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"The Congressional Budget Office (CBO) this week said Biden's plan to raise the minimum wage to $15 per hour from the current rate of $7.25 by 2025 would take 900,000 people out of poverty that year, but would also cut employment by 1.4 million jobs."
So 900,000 would be better off, 1.4 million would become unemployed, and prices would rise for 340 million. That doesn't sound like good policy to me especially as it would cause lots of small businesses to go bankrupt, fuel inflation, and making manufacturing in America less competitive against foreign competition. Last low skilled people, the young and recent immigrants especially, simply will not have very many job opportunities in order to start their careers. Most people start at entry level and then move up from there: what happens after Democrats make sure their are no longer very many entry level jobs?
Lastly, I find it hilarious that Biden officials keep saying they need to follow the facts and evidence all while deliberately ignoring all the facts and evidence.
So 900,000 would be better off, 1.4 million would become unemployed, and prices would rise for 340 million. That doesn't sound like good policy to me especially as it would cause lots of small businesses to go bankrupt, fuel inflation, and making manufacturing in America less competitive against foreign competition. Last low skilled people, the young and recent immigrants especially, simply will not have very many job opportunities in order to start their careers. Most people start at entry level and then move up from there: what happens after Democrats make sure their are no longer very many entry level jobs?
Lastly, I find it hilarious that Biden officials keep saying they need to follow the facts and evidence all while deliberately ignoring all the facts and evidence.
