CBO Confirms: $15 Minimum Wage Spike Would Cost Nearly 1.5 Million American Jobs
Democrats are proud to remain ignorant on politics, economics and history. That’s a deadly combination, considering the radical left controls the White House and both chambers of Congress.
The whole “raising the minimum wage” argument is simple: if wages go up, businesses will be forced to raise prices on customers to make ends meet, while also cutting workers’ hours or stop hiring altogether.
Who wins in that scenario, Dems?
From The Daily Wire:
In a report released Monday, the Congressional Budget Office said that hiking the minimum wage to $15 might reduce poverty, but at the cost of 1.4 million jobs and by adding billions to the federal deficit.
President Joe Biden and Sen. Bernie Sanders (I-VT) have both pledged to back legislation raising the federal minimum wage to $15 — what both the president and the socialist Senator call a “living wage.” Initially, both Biden and Sanders wanted to include the minimum wage hike in an upcoming COVID-19 economic relief package, but with Democrats intent on passing that bill through “reconciliation,” it may have to be offered separately.
[…]
The jump would “cut employment by 1.4 million workers and increase the federal deficit by $54 billion over a decade,” the outlet notes. And while federal spending on things like supplemental food aid programs might decrease, “spending on Medicaid and unemployment benefits would increase because of higher enrollment by those who lose their jobs.” Prices on goods and services would also rise, The Wall Street Journal adds.
It could not be easier to defeat a liberal argument. All you have to do is use their own words against them.
For example, Democrat Socialist Alexandria Ocasio-Cortez was upset that she had to pay $7 for a croissant – as anyone would be.
But how is it so hard for AOC to see why she’s paying $7?
A basic lesson in economics should have Ocasio-Cortez understanding that when minimum wages rise, so do the costs of goods.
Hasn’t she ever heard of supply and demand?
LOOK:
Croissants at LaGuardia are going for SEVEN DOLLARS A PIECE 😱
Yet some people think getting a whole hour of personal, dedicated human labor for $15 is too expensive??
— Alexandria Ocasio-Cortez (@AOC) April 1, 2019
Reactions:
Bless your heart.
The croissants at LaGuardia are going for $7 because people continue to purchase them.
If the consumer wasn't buying the product, then the business would lower costs.
People living in socialist countries don't get croissants; they have to eat their pets.
— #ThePersistence (@ScottPresler) April 1, 2019
The inflated price of food at the airport is caused by the extremely overpriced retail space, which in turn is managed by the city of New York. Maybe you should find way to lower taxes instead of creating more ways to grab people’s money.
— James Randall 🇺🇸 (@guygemini) April 1, 2019
It’s almost like you have the option of not buying one.
— Christian Schneider (@Schneider_CM) April 1, 2019
https://twitter.com/MarkDice/status/1112747182896013312?%7Ctwcamp%5Etweetembed%7Ctwterm%5E1112747182896013312&ref_url=https%3A%2F%2Filovemyfreedom.org%2Finsanity-ocasio-cortez-freaks-out-over-7-croissant-gets-roasted-on-basic-economics%2F
You're flying? But I thought you were getting rid of the airplanes? YOU SAID THE WORLD IS ENDING IN 12 YEARS.
— The🐰FOO (@PolitiBunny) April 1, 2019
AOC then fired off another tweet after being resoundingly mocked, as per usual…
GOP taking every tweet so earnestly, making my point for me. It’s not an argument against the price of a croissant – it’s about the value of human worth.
But I guess that idea is foreign to them since their policies treat people as disposable anyway 🤷🏽♀️
— Alexandria Ocasio-Cortez (@AOC) April 1, 2019
