- Joined
- Jan 2, 2013
- Messages
- 19,259
- Reaction score
- 6,899
- Gender
- Undisclosed
- Political Leaning
- Conservative
https://www.cbo.gov/system/files/2019-07/CBO-55410-MinimumWage2019.pdf
The $15 option would affect family income in a variety
of ways. In CBO’s estimation, it would:
Boost workers’ earnings through higher wages,
though some of those higher earnings would be offset
by higher rates of joblessness;
• Reduce business income and raise prices as higher
labor costs were absorbed by business owners and
then passed on to consumers; and
Reduce the nation’s output slightly through the
reduction in employment and a corresponding
decline in the nation’s stock of capital (such as
buildings, machines, and technologies).
On the basis of those effects and CBO’s estimate of the
median effect on employment, the $15 option would
reduce total real (inflation-adjusted) family income in
2025 by $9 billion, or 0.1 percent
Comments.
The $15 option would affect family income in a variety
of ways. In CBO’s estimation, it would:
Boost workers’ earnings through higher wages,
though some of those higher earnings would be offset
by higher rates of joblessness;
• Reduce business income and raise prices as higher
labor costs were absorbed by business owners and
then passed on to consumers; and
Reduce the nation’s output slightly through the
reduction in employment and a corresponding
decline in the nation’s stock of capital (such as
buildings, machines, and technologies).
On the basis of those effects and CBO’s estimate of the
median effect on employment, the $15 option would
reduce total real (inflation-adjusted) family income in
2025 by $9 billion, or 0.1 percent
Comments.