If you have no job, you have no wages. When that is the case you are getting the minimum wage. ZERO dollars per hour. Biden has a plan to raise the federal minimum wage to $15. If we go there it will kill over a million jobs according to the CBO. Do you trust your government?
It will increase the cumulative federal budget deficit by $54 billion over 10 years. With interest rate bumps and inflation adding another $16 billion. So, for $70 billion we can harm more people than we help.
Is that good decision making?
The $15 minimum wage should die
The $15 minimum wage is being promoted by Biden. Its introduction a bill is coming from Bernie Sanders. The measure is one of several proposals Democrats hope to hide in their $1.9 trillion coronavirus relief legislation.
Democrats approved a $1.9 trillion budget resolution Friday. The intention is to skirt a 60 vote threshold in the narrowly divided Senate. The move makes it possible to enact it through reconciliation. The budget resolution now heads to congressional committees. Those committees will debate such hot-button proposals as a $15 minimum wage and $1,400 direct relief payments.
Sen. Joni Ernst succeeded in stalling immediate minimum wage changes. She was able to attach an amendment that will delay hikes until the end of the pandemic. The speculation is, the passage of her amendment forecasts the proposal’s eventual defeat in committee. Biden says this is likely. He understands the minimum wage is actually zero.