Thursday, January 21, 2021

A $15 Minimum Wage Doesn’t Belong in a COVID-Relief Plan; Biden's proposal to raise minimum wage to $15 could could kill up to 3.7M jobs, and other C-Virus Updates

Stephen Yang/Reuters
A $15 Minimum Wage Doesn’t Belong in a COVID-Relief Plan:
Joe Biden has repeatedly promised to unite the country and bring Americans from across the political spectrum together to address the grave problems we face as a nation. The inclusion of a partisan poison pill in the sweeping $1.9 trillion COVID-19 relief proposal that the president-elect unveiled last week is another reminder that he may have an unusually divisive notion of unity.
Alongside some relatively uncontroversial funding for vaccine distribution, COVID testing, and the like, Biden’s proposal includes eminently debatable but at least “on-topic” funding for mass “stimulus” checks, expanded unemployment benefits, and (to give the president-elect the benefit of the doubt) a bailout for state and local governments. Yet it also includes a provision that would more than double the federal minimum wage, raising it from $7.25 to $15 nationwide.
Such a provision in no way, shape, or form belongs in a COVID-19 relief package. Whether you support or oppose it, it’s hard to argue that this hike has more than a tangential relationship to the problems caused by COVID-19. --->READ MORE HERE
Biden's proposal to raise minimum wage to $15 could could kill up to 3.7M jobs, CBO estimates:
President-elect Joe Biden's proposal to raise the minimum wage to $15 an hour could kill up to 3.7 million jobs, the Congressional Budget Office estimated.
The CBO said that some of the higher earnings from the $15 federal minimum wage could be offset by higher rates of joblessness.
The report found that 1.3 million workers who would typically be employed would be without jobs in an average week in 2025. A new federal minimum wage would also increase the pay of 17 million workers in an average week in 2025.
The increase in earnings would mostly affect low-income families, while a loss of business would affect higher-income families.
Families below the poverty line would receive an additional $8 billion in real income in 2025, while families above the poverty line would lose $16 billion in real income. --->READ MORE HERE
Follow links below to related stories and resources:

COVID Lockdowns Will Result In 1 Million Excess Deaths Over Next 15 Years, Scientists Find

German quarantine breakers to be held in refugee camps, detention centers

USA TODAY: Coronavirus Updates

WSJ: Coronavirus Live Updates

YAHOO NEWS: Coronavirus Live Updates

NEW YORK POST: Coronavirus The Latest

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