The first 10 days
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Too many things Joe.
Get the vaccine distribution fixed. Then let’s talk.
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Biden minimum wage proposal could lift more than 1 million workers out of poverty
President-elect Joe Biden's proposal to more than double the federal minimum wage would provide an urgently pay hike to millions of low-income workers and help stem inequality in the U.S., economists and labor advocates said.
In detailing his $1.9 trillion COVID-19 relief proposal on Thursday, Mr. Biden called for raising the minimum wage to at least $15 an hour, saying, "No one working 40 hours a week should still be below the poverty line."
The CBO also estimated the move would cost 1.3 million American jobs, a claim long made by conservative economists. Mr. Biden's call to boost the minimum wage to $15 an hour "is the absolute last thing that unemployed workers need right now," Michael Farren, an economist with the right-leaning Mercatus Center at George Mason University, said in an email. "After all, they can't benefit from higher wages if those higher wages result in slower job growth."
Heidi Shierholz, senior economist and director of policy at the left-leaning Economic Policy Institute, rejects the argument that a wage hike would lead to job losses.
"That claim of job loss isn't supported by evidence — it's likely an overestimate of negative employment impact. But even if you accept their findings, they still find the benefits far outweigh the costs," Shierholz, formerly the Labor Department's chief economist under Barack Obama, told CBS MoneyWatch.
Higher labor costs from raising the minimum wage would be shouldered by businesses, some of which would pass them on to consumers, according to the CBO.
"Now look here, you Baltic gas passer... " - Mik, 6/14/08
The saying, "Lite is just one damn thing after another," is a gross understatement. The damn things overlap.
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@george-k said in The first 10 days:
Biden minimum wage proposal could lift more than 1 million workers out of poverty
President-elect Joe Biden's proposal to more than double the federal minimum wage would provide an urgently pay hike to millions of low-income workers and help stem inequality in the U.S., economists and labor advocates said.
In detailing his $1.9 trillion COVID-19 relief proposal on Thursday, Mr. Biden called for raising the minimum wage to at least $15 an hour, saying, "No one working 40 hours a week should still be below the poverty line."
The CBO also estimated the move would cost 1.3 million American jobs, a claim long made by conservative economists. Mr. Biden's call to boost the minimum wage to $15 an hour "is the absolute last thing that unemployed workers need right now," Michael Farren, an economist with the right-leaning Mercatus Center at George Mason University, said in an email. "After all, they can't benefit from higher wages if those higher wages result in slower job growth."
Heidi Shierholz, senior economist and director of policy at the left-leaning Economic Policy Institute, rejects the argument that a wage hike would lead to job losses.
"That claim of job loss isn't supported by evidence — it's likely an overestimate of negative employment impact. But even if you accept their findings, they still find the benefits far outweigh the costs," Shierholz, formerly the Labor Department's chief economist under Barack Obama, told CBS MoneyWatch.
Higher labor costs from raising the minimum wage would be shouldered by businesses, some of which would pass them on to consumers, according to the CBO.
For crying out loud. “Do you know what would be really great after a pandemic? Historic job loss and inflation!”
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How’s that millions of new jobs thing going? So far we’re at -43K.
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I think there should be some minimum wage. For the US, I just don’t know what that value should be.
