A $15 minimum wage could lift 1.3 million out of poverty, notes CBO

A $15 minimum wage could lift 1.3 million out of poverty, notes CBO

Raising the federal minimum wage to $15 would boost the income of up to 27 million Americans and lift 1.3 million people out of poverty, the Congressional Budget Office (CBO) said on Monday. The CBO also noted that as many as 3.7 million workers could lose their jobs if the federal minimum rose to $15.

Timothy
Timothy
Andrew Colomy
Andrew Colomy 6 months

The left, forced to admit what they had was a bad idea... again. How many times have they been completely wrong now? I've lost count.

Paul C
Paul C 6 months

Regardless of the minimum wage you have to wonder how many of these jobs will get eliminated by automation in the coming years. Any repetitive tasks that can be done with low level AI robots will be the first jobs to go.

Ryan M
Ryan M 6 months

All it does is kill small business, increase unemployment, and raise prices. Higher minimum wage accomplishes exactly nothing for anyone apart from large corporations.

Shane Olson
Shane Olson 6 months

Raises 1.3 Million out of poverty while putting 3.7 Million into poverty. Raising the minimum wage doesn’t actually help workers, it just decreases the value of the dollar.

s s
s s 6 months

I just find it funny that all the left leaning sources give a different number to how many jobs will be created and lost. its kinda like they want people to be misinformed.

VaasDC
VaasDC 6 months

and then they get put right back into poverty once cost of living increases, either increases to put you back where you were, you just have higher number visually on your pay or it increases to put you in a worse situation.

Seed
Seed 6 months

$15 minimum wage is a scam. Companies can always lay off workers or reduce their hours. This is especially true for small businesses which do not have the resources of Amazon/Walmart/Target

Wholly Mindless
Wholly Mindless 6 months

Well, it seems someone is starting to grasp economics. I was only expecting a 10% loss of jobs, but this is claiming 15% or so. I can imagine that. Business will do what it has always done, more with less if labor costs get too high. What is a shame though is that people voting for it don't realize that jobs will be lost and taxes will be need to pay for those released from their position.

Marcus Rogers
Marcus Rogers 6 months

This will lift people out of poverty and straight onto the streets when company's start firing half their staff to cover wages.....

Hannibal
Hannibal 6 months

Anyone else surprised at how balanced the NPR headline was? I was expecting something way off base.

Rocky LeBlanc
Rocky LeBlanc 6 months

WRONG

Star Alien
Star Alien 6 months

Give them gov jobs. Call it a day. Your welcome.

michael zubas
michael zubas 6 months

these number are different than what I read. someone moved a decimal point.. last I checked itnwas 17 million peoole. not 1.7.

SimonR
SimonR 6 months

Every headline quotes different numbers.

Rhokanth
Rhokanth 6 months

How many companies will have to shut down? How much will goods inflate in cost to lower all of our standards?

Darth Quaint
Darth Quaint 6 months

On today's game of "would you press the button?": 1.3 million lifted out of poverty. BUT 3.7 million could lose their current jobs. upvote if you would not press.

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