6 ways a new CBO report devastates the $15 minimum wage

6 ways a new CBO report devastates the $15 minimum wage

[Ed. – Let them count the ways,]

1. It would be a job-killer.

The Congressional Budget Office report estimated that a $15 minimum wage would lead to 1.3 million lost jobs by the year 2025, with job losses rising over time due to compounding negative impacts.

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2. It would create a survival-of-the-fittest labor market.

The report makes clear that a $15 minimum wage would disproportionately harm workers with the least education and experience and those with disabilities because these workers would be the first to be let go — or to never be hired in the first place.

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3. It would expedite the pace of automation.

When workers become more expensive to employ, companies have a greater incentive to invest in machinery to eventually replace employees.

With a $15 minimum wage in addition to an Obamacare penalty for failing to provide workers with insurance, plus federally mandated taxes and benefits, the minimum cost of employing a full-time worker would exceed $38,000.

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