(07-10-2019 01:57 PM)RiceLad15 Wrote: (07-10-2019 11:51 AM)At Ease Wrote: Quote:The greatest effects would be felt by those living below the poverty line, who would see a 5.3 percent increase in earnings. Wages would increase for as many as 27.3 million workers, roughly one in six Americans. That includes “many of the 10 million workers whose wages would be slightly above the new federal minimum,” according to the CBO; as the minimum wage kicks everyone up to $15 an hour, those slightly above that level would likely bargain for and get a raise as well. Workers would see total wages increase by $44 billion in the aggregate, with virtually all of that going to the poor. And 1.3 million Americans would rise out of poverty.
Now for the costs in the cost-benefit analysis. According to the study, 1.3 million Americans would lose their jobs. Half of these would be teenagers, and a large segment of the 700,000 adults losing jobs would be part-timers. Consumers would pay around 0.3 percent more for their goods and services, as the wage increase gets partially passed on, and business owners would lose $14 billion, a trivial amount of total business income.
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Thanks for posting. Interesting that the jobs lost are primarily teenagers and part-time workers. A lot less of a problem, IMO, than 1.3 million full-time adult earners losing their jobs. Big difference in those categories.
True, there is a difference. But full time adult earners should not be working MW jobs, Especially not if they are trying to support a family of four and put kids through college.
If that is what you are trying do, either find a better job or learn a new skill. That's what I did 50+ years ago. On my eldest son's birth certificate, my occupation is listed as "parking garage cashier". I made minimum wage and worked 20 hours a week. The rest of the time I was a full time Rice student. I wanted to move up the employment chain, not make a living as a parking garage attendant. One's ambition should not be to slide burgers across a counter for 45 years, then retire.
Let the kids have their first jobs, learn how to work and how to manage their money. And then move on to bigger things.
As for the part time workers, they are usually people working to supplement family income. Often the reason they are part time is because they are full time somewhere else. The loss of their income will be deeply felt by their family. They are not people who are working to pass the time That is what volunteering at the hospital and library is for.
1.3 million jobs, youth and part time, and yes, full time, are nothing to sneeze at.
If $15/hr. is good, wouldn't $20/hr. be better? $25? $50? $100? $200? Why stop at $15? I asked AtEase to answer, now I ask you.
One thing $15/hr will do, it will attract more illegals from the south. Maybe this is one of those things leftists favor just before they claim to not want open borders.