Joe Biden quickly went to work undoing Trump’s track record of success. Even as the country continues to suffer under the pandemic, he is pushing policies that are killing jobs.
One of those plans was a $15/hour minimum wage hike. That would double the current rate.
Experts from the CBO said this move would have a disastrous effect on the country. Even Biden appeared to back out of the promise.
But never let it be said that House Democrats would pass on a bad idea.
From Fox News:
Democrats on the House Committee on Education and Labor approved a $15 federal minimum wage proposal included in President Biden’s coronavirus relief package in the early hours of Wednesday morning…
Increasing the federal minimum wage from $7.25 to $15 an hour by 2025 would cut employment by 1.4 million… according to a study released Monday by the Congressional Budget Office.
Even as many Americans are still out of work thanks to Democrat lockdown orders, the House approved a measure that would cost $1.4 million jobs.
It’s already been proven (in states that embraced the $15/hour wage hike) that this move costs jobs, big time.
The left argues that big companies like Starbucks and McDonald’s can “afford” the wage hike. But their argument reveals their utter ignorance of our economy.
Most “big” companies are actually franchises owned by small business owners. These local businessmen certainly do not have spare billions to afford a wage hike (despite what Bernie Sanders says).
In order to avoid totally losing their shirts, these businesses would have to lay off staff (or shut down entirely).
That’s why fast-food restaurants (and other businesses) are aggressively switching to automated systems like kiosks and touch screens. That way, they can cut more human staff.
Other businesses that can’t adapt in that way simply leave the state—taking the jobs with them.
Do you honestly think some companies won’t outsource jobs to other countries, if the entire country embraces this hike?
Democrats claim this move will lift “900,000 Americans out of poverty.” But can that offset the 1.4 million who will lose their jobs?
Will Democrats be around to help these families, once they are sent packing? Yeah, I didn’t think so.
- House Democrats approved a measure to hike the minimum wage to $15/hour.
- The CBO admitted this move will cost $1.4 million jobs.
- States that implemented this move saw job losses and fleeing businesses.
Source: Fox News