Democrats’ signature policy proposal to raise the federal minimum wage would cost roughly 1.3 million jobs nationwide, even as it boosts wages for 17 million workers and lift 1.3 million families out of poverty, according to a report by the Congressional Budget Office released Monday.
The report — which offers the most detailed analysis to date of the proposed $15 hourly federal wage — is a mixed bag for House Democratic leaders, who are just days away from putting the legislation on the floor.
The Democratic bill, which would phase in the $15 minimum over five years, only recently won enough support from across the caucus to reach a floor vote.
CBO’s finding that a $15 hourly minimum would result in 1.3 million jobs lost was a median estimate. CBO's upper estimate of 3.7 million jobs lost poses another test for Democratic centrists, many of whom were skeptical about the impact on local businesses. (CBO's lower estimate was that the number of jobs lost would be "about zero.")
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31 comments:
None of Democrats ever had to meet payroll each week and it shows.
15 dollar minimum wage won't hurt big businesses like Lowes or Home Depot they just go to self checkout which they are doing anyway but it will kill smaller businesses.
The left just can't stand it that our national employment level is so high and inflation is low.
That's right. Innovation will offset the increased cost in labor. And self checkouts are never late, and don't have attitudes like they're doing you a favor to check you out.
That's 100% Correct 7:25 !!!!....15$ man o man that's one of the dumbest laws to ever happen !#@$&!!
Another day, another list of opinions that show an utter lack of knowledge about the facts.
#1 The push for self checkout is NOT because of threats of minimum wage increases. Self checkouts get more customers out the door per worker, those customers often spend more, and is in direct response to customer input these companies receive through formal surveys (especially from millenials). In essence, minimum wage could even be decreased and you would still see the push for self checkout going forward
#2 749 despite your statements about "attitudes", customer surveys actually show that plenty of folks prefer the human interaction (especially older folks). There's been plenty of documented backlash from customers who don't like to provide the free labor to the store
#3 you guys constantly show your hypocrisy. In this story you want to tout CBO numbers as evidence. In a not too distant past, you were saying CBO numbers were trash when they showed Trump tax cuts would NOT pay for themselves.
Everything I've typed here is fact, so unless you have some actual data/facts to counter, spare us with the same old "you're a stupid head" response.
July 9, 2019 at 7:54 AM man o man, are you not the brightest. I got an idea. lets keep underpaying them so the taxpayers can pay more to subsidize what they are not making, in food stamps, welfare, etc.
While companies are posting record profits, wages continue to remain stagnate and have been for a decade, while prices continue to rise, and companies continue to either not offer health care or have conveniently shifted 80% of the cost on to the employee.
It's about time people made a livable wage.
Didn't the CBO also say that people would save money with Obama scam healthcare. How did that turn out. What else has the CBO been wrong about.
Sheeple.
8:41 You must not be a business owner. I am, so trust me when I say you are wrong.
July 9, 2019 at 9:21 AM
Self righteous much? Any cuck can be a business owner and not all of them are successful. Typical Smallsbury mentality. What was your point again? Did you mean to say "I am a greedy prick that thinks I built my business all by myself and my underpaid employees should kiss the ground I walk on"? Did you mean - while you live in the lap of luxury you could give a rats ass if your employees can't pay their electric bill nor afford to get proper healthcare? Yea that what I thought you were saying. I have worked for a few of you. Like the "business owner" that didn't give out bonuses because he took company money and built himself a 500K barn and then forced his employees to come eat a pulled pork sandwich in the new barn, for Christmas. Or the "business owner" that decided he was serving a salad bar at the company Christmas party because it was cheap.
You may think you are something special but you are not.
I hit the labor force in 1968; minimum wage was $1.65; now it's $7.25. Almost everything is more expensive today than back then, sometimes in the same ratio and sometimes not.
As both a time clock worker and later as manager for a number of profitable businesses there is one unfailing fact that accompanies any minimum wage increase. Costs and prices go up and marginal workers lose their jobs.
You are forced to pour your drinks, and increasingly to order your food via a germy screen at restaurants due to state or local minimum wage increases. Same with self checkout at larger merchants. Those technologies will not go away once deployed, as unappealing as they are (personal opinion).
Who is going to pay $15 to employ uneducated, unskilled labor? NYC recently bumped its minimum wage and the negative ripple effects have hit: fewer hours for those who kept their jobs, and job loss for many others, primarily in service jobs.
Each time this topic arises it's important to note that any employer is free to pay above the minimum, and savvy ones do pay their better contributors more because they earn it.
Try as they will Democrat legislators can't alter the basic tenets of economics.
July 9, 2019 at 9:59 AM
All rainbows and butterflies.
Employers may be "free to pay above the minimum wage" but it took an act of congress and many dead women to force them to now didn't it.
Try learning a bit of history before you go espousing some BS theory that doesn't match facts.
I guess Walmart and Amazon didn't get that memo that they can pay more. Ya know, those billion dollar companies whose employees are on the taxpayer dime because they are paid so well, regardless of how well they do at their jobs.
Put down the koolaid.
Let's all go Back ...just a little ...To My HOURLY WAGE Bloggers ...( Including me ) ....Do You Receive A 1$ wage Increase Every year ??...Any Time In Your Working Years ?? .... I've made a darn great career on wage ...NEVER has that increase Happen to me !!! Or my 20 to 30 thousand co workers ! END OF STORY
Your diatribes do not substitute for facts. All info I stated at 841 is backed by peer reviewed research, market reports, direct comments from corporations/business owners. All you have are anectdotes. Try again
1053 dude you must be aware by now these people have absolutely no grasp on the facts of current reality. No way you can expect them to know history too lol. They still think "the rich create jobs" all out of the goodness of their own heart.
Say whatever you want, but the people most hurt by a $15 minimum wage will be:
1. Young people just starting out looking for jobs.
2. Unskilled labor (young or old)
3. Small businesses just starting out who NEED young and unskilled workers in order to expand their businesses.
Everyone needs to start somewhere, even small businesses. A $15 minimum wage may just kill off the next Walmart or Home Depot!!!
July 9, 2019 at 12:19 PM -
ha ha ha, and I have historical facts and events on my side. I thought you were writing a comedy skit when you stated " any employer is free to pay above the minimum" . Like they voluntarily do. The FACT is the only way they do is when they are forced to. You've offered nothing but privileged whining. Tell the men and women who were forced to work in locked deadly hazardous warehouses about your statistics. I am sure they will get a chuckle. Or maybe you can have a chatty chat with some Amazon worker that isn't allowed a drink or pee break. Did you know at their warehouse in PA they have an ambulance sitting in the parking lot, on call, to take their heat exhausted employees away? Try google. Its there. How kind of the billion dollar corporation to offer them a ride.
12:19 PM Facts? You've stated none. Peer review? Like minded individuals parroting each other with no facts? Comments from owners? Oh you mean whining because you have to pay those helping you be successful more?
Seems 8:41 had you pegged.
12:19 Regardless of why self check out has been installed, it cost cashiers their jobs. Now led by Amazon and Walmart, robotic workers are being added in warehouses and in stores. Kiosks are replacing cashiers in Fast food restaurants and robotic cooking equipment is rolling out also. Jobs are being lost and the increases in the minimum wage do drive it as they make the changes affordable. Economies of scale. Tech kills low end jobs. This is nothing new.
9:59 replying to blather from 10:53 & 1:13, and agreeing with 1:06.
I was raised in a very strong labor union area, studied labor economics in grad school, and walked the talk as prole and then as boss in operations and general management jobs.
If you are productive it will reflect in your pay, or else you have a clear signal from your boss that it would be advantageous to you to find something that rewards you on the scale you think you deserve. That's fair to both parties and factual.
Workers are always free to move and quit, and they do. That includes managers. Workers who don't like Amazon's work rules can seek another job; as you or I can do. There are always trade-offs so you can pick and choose.
The reference to the Triangle Shirtwaist fire of 1911 is kind of outdated for those purporting to throw history around.
Except in public schools there is no free lunch. Rising business costs are addressed by raising prices or trimming expenditures, or by some combination.
In all instances, minimum wage increases are artificial cost increases, and in all instances many of the touted beneficiaries of the action end up with fewer hours or lost jobs. That's factual.
July 9, 2019 at 1:06 PM and the facts you based this on? Or you just parroting the MSM narrative? Your proof? Some already failing restaurant in Seattle that died when they had to pay their dishwasher a livable wage?
July 9, 2019 at 9:21 AM
Mr I am a business owner - You voluntarily paying your people more? You give them healthy raises? You provide full time with benefits? What business do you own? Lets hear from your employees! You seem to have plenty of time on your hands trolling blogs and not working.
July 9, 2019 at 1:36 PM
Regardless? Hmmm, the point of the article? The scare tactic and misinformation they are using? Facts are important.
Northwest Woodsman: Virtuous Marxists expressing their compassion without regard to consequences of their actions. Makes them feel good about themselves and since they operate based on emotions, results don’t matter.
If your business can't offer a living wage to its employee's then close the doors and make room for one that can or downsize the number of employee's you maintain. We all know why employers keep more employees though and that's to avoid paying them full time benefits. You also have the option to take your business to another country. Either or.
Yes 1:09, a loophole for businesses to use and avoid giving benefits with a straight face. Actually it's just another form of corporate greed
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The fast food industry keeps a lot of part time employees on hand in order to deal with the call-outs on the schedule. Many American workers just won't show up on a beautiful weather day especially on weekends. That is the reality. We keep more people on hand than we need to operate the business as a buffer for those who skip work at the last minute.
Thank you
Yeah, you saying it's fact makes it so, right? Another mental midget with a keyboard.
100% agree with you. 8:41 is living in a fantasy world.
Higher wages, higher cost of merchandise to consumer.
So, the employee actually doesn't get
anything byt he increase .
@12:44 Absolutely horse feces. I have family that work in the fast food industry and they are refused overtime, they are classified as part time, raises are non existent, and set schedules are often disrupted to make room for the new part time 16 year old who will be quitting in two months regardless. Certainly you need enough employees to cover a shift but then you have managers making 5-10 times the amount of an actual worker (I say that because most managers sit on their asses doing nothing) who can earn their keep and cover the shift. The fact is they hire way more than they need to keep everyone from getting overtime and fulltime benefits. They keep raises to a minimum to keep those Christmas bonuses.
Again, the day of selling the poor on accept low pay and vote for our politics are over. The minimum wage is going up and will continue to increase periodically to offset inflation. This is the political reality and all the bitching and whinging about it falls on deaf ears.
If your business will close no one cares but you. Just as you don't care if the employee can pay their bills.
Hey, if your business closes you can go get one of those minimum wage jobs you claim are good for the economy and in your desperation help someone else get rich off of your productivity..
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