New CBO report: Biden’s minimum wage hike would cost 1.4 million jobs
February 12, 2021
The first principle of being a competent human is to not destroy yourself with your own bad decisions.
Daily Wire reports:
In a report released Monday, the Congressional Budget Office said that hiking the minimum wage to $15 might reduce poverty, but at the cost of 1.4 million jobs and by adding billions to the federal deficit.
President Joe Biden and Sen. Bernie Sanders (I-VT) have both pledged to back legislation raising the federal minimum wage to $15 — what both the president and the socialist Senator call a “living wage.”
[…]The plan, CNN notes, would help some people, increasing “worker pay by $333 billion, giving a boost to some 17 million workers whose wages would otherwise be below $15, as well as many of the 10 million workers whose wages would otherwise be slightly above that level.”
People will lose their jobs:
The jump would “cut employment by 1.4…
View original post 602 more words
Gds44's Blog 