A funny thing happens at $15 per hour...

[Ricter]

Luckily there is no reason to imagine the treasury being decimated by tax cuts because once again after tax cuts, tax revenues went up....overall.

While revenues did fall, if it makes you feel any better spending rose.

 

[jem]

Revenues Fell

I can't paste a link at the moment but I checked.... tax revenues went up overall... as they did with the Bush Reagan and Kennedy tax cuts.

 

[Ricter]

I can't paste a link at the moment but I checked.... tax revenues went up overall.

Don't let the link problem stop you. Where did you check? I'll google the link.

 

[Frederick Foresight]

Don't let the link problem stop you. Where did you check? I'll google the link.

Oh, believe me, he'd really like to tell you, but he's just soooo busy right now. Perhaps soon; maybe after the next election. He'll pencil you in. It'll happen, just you wait.

Hey, how about that local sports team!

 

[Ricter]

Oh, believe me, he'd really like to tell you, but he's just soooo busy right now. Perhaps soon; maybe after the next election. He'll pencil you in. It'll happen, just you wait.

Hey, how about that local sports team!

The sports team from my area is superior to the sports team from your area.
(A favorite t-shirt.)

 

[Mercor]

Revenues Fell

Fiscal Year Revenue
FY 2021 $3.86 (estimated)
FY 2020 $3.71 trillion (estimated)
FY 2019 $3.46 trillion (actual)
FY 2018 $3.33 trillion
FY 2017 $3.32 trillion
FY 2016 $3.27 trillion

The deficit this year is equal to any total tax raised for any year past
Why not collect no taxes, run an 8t deficit, does it really make any difference for now...I think the dems would vote be unanimous
Think how much stimulus that would provide

 

[piezoe]

I've seen it.

When an employer must pay every employee a minimum of $15 per hour regardless of duties a funny thing happens. Something we haven't seen in a long time.

Suddenly that employer has a word on his mind. That word is "merit".

When he or she must pay employees $15 per hour they start looking for actual competency. They start to look for reliability. They start to look for people who show up on time.

And they start firing people who do not meet those standards.

The whole thing is a hat tip to meritocracy. Many will be shut out of the work force but seeing leftists promote employment based upon merit is wonderful. Of course they don't know they are promoting the meritocracy but I think it will become apparent to them a few years down the line.

When the leftists perceive the unintended results of their work I think the next push will be something like "you must hire everyone who applies in the order of application" or some other drastic measure to ensure that you cannot hire based upon competency.

Tonight though the issue appears to be mute because the Senate Parliamentarian has declared that Uncle Joe cannot raise the minimum wage as part of the Covid Relief Bill.

So far Joe Biden has done nothing but issue Executive Orders and has not passed a single law through Congress. Yeah, that first 100 days LOL.

At first you made so much sense, I had trouble believing it was one of your posts I was reading. They you ruined what would have been a great post by throwing in something that makes no sense and seems to have been pulled from an extreme, far-right biased asshole, viz, ...

When the leftists perceive the unintended results of their work I think the next push will be something like "you must hire everyone who applies in the order of application" or some other drastic measure to ensure that you cannot hire based upon competency.
​

 

[El OchoCinco]

Its not so much the $15 for enter level workers that is the issue
Its the level above them, the managers, the experienced workers
Maybe now they make 12-15hr ..now they will need to go to $20 to be fair
Its a big hit

As of Feb 18, 2021, the average hourly pay for a Manager in the United States is $20.17 an hour. While ZipRecruiter is seeing hourly wages as high as $37.02 and as low as $7.93, the majority of Manager wages currently range between $13.22 (25th percentile) to $21.88 (75th percentile) across the United States.

 

[El OchoCinco]

It hasn't been successfully implemented anywhere, and I am happy if someone wants to show me I am wrong.

And by successfully, I mean without negative economic impact.

Still, if done right it will result in higher wages - you just have to accept that less people will be employed at the end.

Here are all the states min wages as of 2020 and proposed 2021..

https://www.paycor.com/resource-center/minimum-wage-by-state

 

[piezoe]

It’s a stupid idea for whom?

I truly doubt that we will see a $15 an hour wage from the federal government, but $11 or $12 phased in over 3 years I’m optimistic.

That's will be too low in 5-6 years , but in three just a little under where it should be. I, like you, am optimistic. If we were to keep the minimum so incredibly, unrealistically low, as it is now, we would be adding to the harmful distortions in we have already introduced into our economy.