Biden push to raise minimum wage to $15 would kill 1.4 million jobs: CBO

submitted by Tan2 from washingtontimes.com

sorted by:
top
newinsightfulfun
you are viewing a single comment's thread.

view the rest of the comments →

[–][deleted] 4 insightful - 1 fun4 insightful - 0 fun5 insightful - 1 fun -  (4 children)

false. and min wage should be $24 an hour if it kept up with inflation

[–][deleted] 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (2 children)

The minimum wage was originally $0.25 in 1938, which would be $4.61 in 2021. It was raised to $0.75 in 1949, which would be $8.17. It was $1.60 in 1968, which would be $12.27. Not sure where you got $24.

Sources:

Notes:

  • I used January for inflation calculations.

[–][deleted] 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (1 child)

nah that tries to ignore important things like food and energy costs, is to be ignored.

[–][deleted] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

You said inflation, not cost of living. If you said cost of living: that's what I would've looked at.

[–][deleted] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

Yeah, $15/hr was what it was a decade ago. I haven't confirmed it's $24, but it makes sense it's not the same.