New CBO report: Biden’s minimum wage hike would cost 1.4 million jobs


WINTERY KNIGHT

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…

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