Posted on 01/15/2021 11:38:05 AM PST by Stravinsky
President-elect Joe Biden's newly unveiled stimulus plan includes a federal minimum wage increase to $15 an hour, although the measure is likely to face pushback in Congress.
Currently set at $7.25 an hour, Biden moved to nearly double the country's minimum wage in his $1.9 trillion economic relief package. The plan would also include the elimination of separate minimum-wage thresholds for workers who receive tips and workers with disabilities — a statement that received wide support due to its inclusivity of all workers.
"No one working 40 hours a week should live below the poverty line," Biden said in a speech on Thursday. "People tell me that's going to be hard to pass. Florida just passed it — as divided as that state is — they just passed it. The rest of the country is ready to move as well."
(Excerpt) Read more at businessinsider.com ...
Minimum wage jobs aren’t mean to be careers.
Another attack on small businesses.
The crazy economic policies have both inflationary potential and depression potential.
It is really hard to have inflation when most people are unemployed and broke.
Most government programs (much as we despise them, and wasteful as they are) do not provide enough money to actually cause inflation for very long....
They tend to be fits and starts, which means no-one wants to employ long-term capital to deal with short-term improvements in business.
The most likely end to the Biden policies is that the rich get a lot richer and everybody else is totally f*&^ed—and it won’t matter whether it is “inflation” or “deflation”. Economic toast is economic toast.
You would be very quietly working with vendors to figure out how you could replace your employees with robots, computer software, or just outsourcing...
That just means goods and services will cost more to purchase.
More Inflation and the collapse of this fragile economy.
I saved all that money by investing it in real estate (that I use) and eliminating all my debt, so I’m good. :)
Well, that and PM’s, including lead.
Absolutely.
The Left has no concept of a Businessman implementing a Cost / Benefit Analysis due to Government interference and regulation.
Get ready for a $50.00 combo at Burger King.
The $150/hr minimum wage will guarantee that everyone is pushed into a high tax bracket.
>>>Minimum wage jobs aren’t mean to be careers<<<
Remember the guy who ran the Deep Fryer at McDonalds gushing all over Obama? He thought he was set for life.
What happens to the Fast Food Shift Manager who worked his way up to $15 an Hour? His incentive is gone unless they double his Salary.
The cost of living will be taking a jump along with this unjustified mandatory increase in labor wages that business owners will be forced to pass along to an unsuspecting public.
A SUBSTANTIAL drag on small business recovery.
No family restaurant will survive.
Or any other family-run retail outlet, though plumbers etc. will have little change.
See my post #31
A bone thrown to the unions.
If the minimum wage goes up, they automatically get a raise across the board of equal value at all levels.......................
Yes, if you work for the Unemployment Department!.......................EVEN MORE!.....................
Takin COVID out of the picture, did many employers actually offer a job paying $7.25 an hour?
Employers in my area were looking for bodies...help wanted signs all over the place (starting to happen again)couldn’t fill positions at 10 bucks an hour...
Harbor Freight here in Western NC is already offering new-hires $12.35.
No, they won’t .... and then anyone with a dollar left will be taxed to the hilt to pay for the ones who have lots all their jobs and benefits.
So sick of it all.
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