Reply to Help me understand the impact of a $15 minimum wage?

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[quote=Anonymous][quote=Anonymous]
[twitter]https://twitter.com/stephenfhayes/status/1358484132259586048[/twitter]

[quote]Critics of a higher minimum wage cite a number of reasons for their opposition: the effect on youth employment levels, the likelihood that it will increase the costs of products and services, and the chance that it will decrease the number of jobs available. Such concerns align with the data and projections published by the nonpartisan Congressional Budget Office in July 2019. [b]The CBO estimated that while a $15 minimum wage would increase the wages of 17 million workers and reduce the number of people living below the poverty line, it would also eliminate 1.3 million jobs. The CBO’s projections also indicated a $15 minimum wage would reduce business income while causing prices to increase, concluding that “the $15 option would reduce total real (inflation-adjusted) family income in 2025 by $9 billion, or 0.1 percent[/b].”

Given the opposition to a $15 minimum wage among economists and the projections put out by prominent organizations like the CBO, Biden is wrong to claim that “all the economics” indicate raising the minimum wage to $15 would have an overall positive effect on the economy. [/quote][/quote]

If he does this, he will take the prize as the biggest job killing president.  He already has a great start on this unflattering title with many of his EOs.  [/quote]

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