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$15 Federal Minimum Wage: An Anchor on Struggling Businesses
Daily Signal ^ | 1/22/2021 | Rachel Greszler

Posted on 01/23/2021 8:10:45 AM PST by Onthebrink

This below really struck me:

A $15 federal minimum wage translates into over $36,000 per year in wages and mandated taxes and benefits paid by employers. That means that any jobs that don’t produce at least $36,000 per year in goods and services will eventually be eliminated—either because businesses close their doors, outsource their labor, or automate low-skilled jobs.

That’s why even liberal economists and the nonpartisan Congressional Budget Office caution that a $15 federal minimum wage would lead to a survival-of-the-fittest labor market, reduce future incomes, and disproportionately harm African Americans and women.

(Excerpt) Read more at dailysignal.com ...


TOPICS: Business/Economy; Government; History
KEYWORDS: aoc; economy; joebiden; progressives
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To: ought-six

“that’s how we (1) made our own money for college, cars, dates, beer; (2) developed responsibility; (3) started to become productive members of society.”

Those jobs are “entry level jobs” which were never meant to be careers.

THE REALITY OF TODAY, RIGHT NOW, THIS ELECTION.

They have machines that flip and assemble burgers now. Because of laws like this the sale of those machines will explode.

The customers will order via a computer, they pay by card in an automated manner, and pick up their orders which were cooked, assembled, and packaged by a machine.

There is one person in the back keeping track of the raw supplies that the machine processes into your order.

The owners profits go way up and the number of employees drops by over 90%. The owners do not have to pay any hourly wages or any excess benefits or costs to the government for the machine.

In one stroke the all powerful communists in government have just made those with enough money to buy the machines much richer, displaced over 90% of the employees in that industry, and instigated more homelessness and hungry children.

AND THEY ARE PROUD OF THEMSELVES.

THIS IS WHAT THE LEFT CALLS PROGRESS.


21 posted on 01/23/2021 9:12:14 AM PST by oldenuff35
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To: Onthebrink

The good news is everyone will learn how to cook. Ramen.


22 posted on 01/23/2021 9:27:06 AM PST by Salvavida
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To: Onthebrink

They will not get 15 but will take 11 or 12. Still a big hit to small biz


23 posted on 01/23/2021 9:33:30 AM PST by pangaea6
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To: Onthebrink

“An Anchor on Struggling Businesses”

Yea.... it’s an anchor alright likened to dropping out a 500 lb. anchor with 15’ of rope tied to a 10’ aluminum boat in 100’ of water.


24 posted on 01/23/2021 9:36:39 AM PST by LastDayz (A blunt and brazen Texan. I will not be assimilated.)
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To: JBW1949

The lowest wage that will be accepted by the worker for a job...

Ergo, that would be an illegal alien.


25 posted on 01/23/2021 9:41:22 AM PST by CVS-20
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To: JBW1949

The lowest wage that will be accepted by the worker for a job...

Ergo, that would be an illegal alien.


26 posted on 01/23/2021 9:41:22 AM PST by CVS-20
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To: dsrtsage
No sane businessman will ever hire teens, much less “teens”

They can do the work themselves then.

27 posted on 01/23/2021 9:44:16 AM PST by central_va (I won't be reconstructed and I do not give a damn...)
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To: Onthebrink
The Dumb-ocrats will never do this because $15/hr ($30/hr couple) will take a lot of workers off the public dole because they would now make to much. Perhaps they would become right wingers.

So this ain't going to happen. Don't worry Republicans we will still have a taxpayer subsidized unskilled worker pool for you to exploit.

28 posted on 01/23/2021 9:49:13 AM PST by central_va (I won't be reconstructed and I do not give a damn...)
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To: Godzilla

There is no historical correlating economic data that equates higher unemployment to raises the minimum wage.


29 posted on 01/23/2021 9:50:41 AM PST by central_va (I won't be reconstructed and I do not give a damn...)
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To: econjack

Right, the Republican aristocracy wants an open border, no minimum wage and taxpayer defacto subsidy for labor. And they wonder why Trump was elected.


30 posted on 01/23/2021 9:52:47 AM PST by central_va (I won't be reconstructed and I do not give a damn...)
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To: duckman

Except our borders are wide open. Open borders + no min wage = disaster.


31 posted on 01/23/2021 9:53:52 AM PST by central_va (I won't be reconstructed and I do not give a damn...)
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To: Vermont Lt
So, does this mean that there will no longer be food stamps or subsidies?

Yes it would.

32 posted on 01/23/2021 9:55:52 AM PST by central_va (I won't be reconstructed and I do not give a damn...)
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To: FreedomNotSafety

Wages have been beaten down for so long it causing social instability. Combine that with Republicans love affair with insane levels of LEGAL immigration and we are on the road Communism.


33 posted on 01/23/2021 9:59:00 AM PST by central_va (I won't be reconstructed and I do not give a damn...)
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To: mewzilla
Without a commensurate increase on productivity, which doesn’t occur, an increase in the minimum wage is just a job killer.

Except that there is no data to back that up.

34 posted on 01/23/2021 9:59:52 AM PST by central_va (I won't be reconstructed and I do not give a damn...)
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To: central_va

But they will get those on unemployment. (Shaking my head...)


35 posted on 01/23/2021 10:20:30 AM PST by Vermont Lt (We have entered "Insanity Week." Act accordingly.)
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To: Vermont Lt

If minimum wage goes up a hamburger will cost $4,000 and fries $3,000.


36 posted on 01/23/2021 10:22:50 AM PST by central_va (I won't be reconstructed and I do not give a damn...)
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To: Onthebrink

Many employees will be getting the real minimum wage - $0.


37 posted on 01/23/2021 10:28:35 AM PST by Veggie Todd (Religion. It's like a History class. Without the facts. )
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To: central_va

“Welcome to McRobot burgers...enter your order on the screen”


38 posted on 01/23/2021 10:48:09 AM PST by kaktuskid
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To: Onthebrink

nobody said squeek about the $15/hr morphing into ‘federal and federal contractors’ only (most of whom already make $15/hr)

same as nobody said squeek about Calif’s $15/hr morphing into unions-are-exempted.


39 posted on 01/23/2021 11:24:53 AM PST by blueplum ("...this moment is your moment: it belongs to you... " President Donald J. Trump, Jan 20, 2017) )
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To: kaktuskid
“Welcome to McRobot burgers...enter your order on the screen”

Automation is being developed without regard to the minimum wage. If the min wage went down automation would still take place.

40 posted on 01/23/2021 11:28:58 AM PST by central_va (I won't be reconstructed and I do not give a damn...)
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