Raise the minimum wage to $15 an hour and families will have less

Raise the minimum wage to $15 an hour and families will have less money.

The "Raise the Wage Act" proposed by House Democrats will be up for a vote on Thursday and certain Blue Dog Democrats have expressed concern that raising the federal minimum wage from $7.25 to $15 an hour by 2026 could negatively impact their constituents. The Congressional Budget Office’s (“CBO”) report on the effects of such an increase clearly demonstrates that their concerns are justified.

CBO’s median estimate is that a federal minimum wage of $15 would result in 1.3 million fewer workers being employed. But, CBO also found that it would raise wages for 17 million workers who would otherwise make less than $15 per hour and “potentially” 10 million workers with wages slightly above the new federal minimum. That sounds like a pretty trade off. Unfortunately, it’s not.

Notwithstanding these wage increases, CBO found that a $15 federal minimum wage would reduce family incomes $8.7 billion by 2025. This reduction would result from higher rates of joblessness, price increases for consumers, and reduced economic output (growth) all offsetting wage gains. While individuals below the poverty line would see their family incomes increase by $7.7 billion, families above the poverty line would see a decline of about $16.3 billion, or $8.7 billion more than the benefit for lower income families.

In other words, you raise the minimum wage to $15 an hour and American families have less money, brilliant. Even for progressives, a loss of $8.7 billion on a $16.3 billion investment should be viewed as a terrible result – you would think.

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Comment by Patricia Gillenwater on July 27, 2019 at 3:02pm

Jerome, I  love it when you write, no hold out of facts. Some of my pet peeves center around the lobbyist industry, the PAC'c, SuperPAC's and ForeignPAC's and while I am at it the elected setting up foundations and the like.

Comment by Norma J. Sears on July 27, 2019 at 9:33am

Hi all, 

In the past 10 months I have been getting some new flooring, my couch covered and a few rooms painted.  These were all things I had had to put off due to Obama's administration.  There have been a variation of ages of the workers I have had here.  Every one of them knew exactly what I was talking about when I mentioned I didn't have the money to do all this before due to our then President.  It was all thanks to Trump and his getting some things turned around during his tenure in DC.  It also was a teaching lesson for a couple of younger men who where just starting out as apprentices.

I agree on the $15.00 minimun wage deal.  They wanted it to appear they are concerned for the people, and it serves to conceal the fact that they voted themselves another raise this year.

Those with common sence realize it's smoke screen and will only drive up costs.  The same ones will blame Trump went it drives up costs.

Comment by Suzie Nielsen on July 27, 2019 at 9:04am

Jerome,

First, glad to see you!!!  I missed you! Hope you will begin writing for the site again!!?

I agree! I think this is exactly where the "break down" started. Power, and Greed (which came first?) They go to DC with the mentality of superheroes, sadly without superpowers... and quickly figure out " they can vote for their own raises" and they quickly go to work for themselves...not we the people.

 another side effect...

Most seniors I know are so confused by their party, the "I have always been a Democrat or Republican" mentality-  they just vote old school, whatever Daddy did. They lack the technology to do any research and must rely on mainstream media which, of course, is progressive and biased... To me, it is all about education and teaching old dogs new tricks...

Comment by Jerome on July 27, 2019 at 6:30am

Wow, Luis, way back to the 19th century, really, way back then?  Look Political Parties are much like man made religions.  Christ never created a denomination, and really a government of, by and for the people never created a Conservative, Liberal, Republican or Democrat.  It is true that today's Republican Congress stretching way back to when I a child, have never really wanted to win anything.  They certainly didn't want Donald Trump to become President, but he is.  Republicans never agree or lock step with their own platform, because that would mean winning, and winning means taking control, making decisions and taking responsibility for those decisions.  When Republicans win, they have no scapegoat, like blaming the Democrats when they couldn't get things done as promised.  Hence the rub, Donald Trump upset the Republican apple cart.  Actually most of every law on the books is still in place, the ACA is no different in that respect, and that means going way back to the early 18th century.  The formation of political parties came early, but developed into the corrupt organizations that they are over a 200 year span of what we now call history.  When the U.S. came to fruition, no one wanted to be a Senator or Congressman, they all had jobs and responsibilities outside of what we now call D.C.  George Washington didn't want to be President, Jefferson, Adams and Hamilton enjoyed just being citizens, Congressional responsibility was a part-time job.  Benjamin Franklin once said "poor people should not be encouraged to become comfortable in their poverty", i.e. welfare.  By the same token, Senators and Representatives should have never been allowed to become comfortable in their positions.  I believe it was Alexis de Tocqueville that iterated in essence American Democracy would remain safe until Congress realized that they could vote themselves raises.  That's when representing the people evolved into representing one self, and the birth of the career politician came into being.  America doesn't have political parties, we have several caucuses, committees, departments that are nothing but self-serving carpetbaggers.  Once we understand how our government has been working behind the closed doors and in the smokey board rooms of D.C., then it should become completely apparent that when one man such as President Trump comes to command, and tips over the money changer's tables, blow back from every comfortable corrupt politician is and was expected and imminent.  Politicians aren't there for We the People, and haven't been for a very long time.    

Comment by luis✩USA on July 27, 2019 at 5:45am

Pat, I always feel compelled to add that, w/ the exception of Obamacare/ACA, the repubs had went along w/ the dems going back to the 19th century.  As for the ACA, the only reason that I see that the GOP didn't get on board was because their votes weren't necessary for it to pass.

Why do I come to that conclusion? Isn't it obvious?  Most of that law is still in place. 

And, although a type of tax reform did get through. It's TEMPORARY, A 5yr sunset.  (unfrigginbelieveable)

Comment by Patricia Gillenwater on July 26, 2019 at 10:10pm

Luis, All you said in your last post could very well happen if the demon-rats prevail in 2020. 

War on cash well that will become a reality. AI would play a big role in directing what you can purchase or not. One who is diabetic and tries to purchase a Snickers bar on that loaded guaranteed income card (Snap replacement) sorry you can't purchase buy an Apple instead.

SS well it too could be phased out as well with guaranteed income. Gotta have the equality factor within the masses.

Well I doubt demon-rats would leave out their favorite class, illegal invaders, to receive guaranteed income payout. 

Now illegal invaders not working they will be busy preying on anyone within the masses and beyond the upper class walled in areas.

Comment by luis✩USA on July 26, 2019 at 9:03pm

Hmmm...the under-the-table workers will be phased out soon enough.  Eventually the rabid-radical-left will control all of DC once again; and the password-of-the-day will be REVENGE!  Taxes WILL soar - including for the middle class. Yet, it'll NEVER be enough!  The next step for the country would inevitably be to phase out cash all together.  No cash - no unreported wages.  And, when America is ruined, I'm betting the problems w/ illegals will go away as well.  There'd be nothing left to take.

And the American citizenry will go on a protest frenzy screaming and hollering for their freebees; and over the cuts in SocSec/SSI...  Oh, it is coming. 

Comment by Patricia Gillenwater on July 26, 2019 at 5:53pm

Rich, I am afraid you are right about the under the table worker supplanting the legit.

Comment by Rich Knoch on July 26, 2019 at 3:59pm

One of the many problems with the $15/hour minimum wage is it will drive up all wages for folks who have been with the company and are competent in their jobs.

You could say, the increase in minimum wage will have the "camel's nose in the tent" affect on all working folks, at least those who have jobs after automation and AI eliminate many of them.  Invaders-from-the-South who work off-the-books-jobs and don't pay taxes will also replace those who think $15/hour is the new elixir for America.

Comment by Patricia Gillenwater on July 26, 2019 at 2:29pm

Luis, I agree with you.

I recall the first time going to a McDonalds. Burgers  were 9 cents,  you could watch them  being made from the sidewalk window. The  burgers came down a conveyor belt and went around where squirts of  condemendants were added. That type of McDonalds didn't last long. White Castle was a better deal.

The AI introduction in present day will truly be a form of tyranny. 

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