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- เผยแพร่เมื่อ 31 ม.ค. 2021
- President Biden is pushing to raise the minimum wage to $15. Here's how that would affect the economy.
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WASHINGTON - Democrats who now control Congress are proposing to raise the federal minimum hourly wage to $15 by 2025.
It would be the first increase in more than a decade. The current wage, $7.25, was set in 2009.
"Let’s be clear. The $7.25 an hour federal minimum wage is a starvation wage," said Sen Bernie Sanders, I-Vt., in announcing the bill Tuesday. "No person in America can make it on $8, $10, or $12 an hour. In the United States of America, a job must lift workers out of poverty, not keep them in it."
The Raise the Wage Act of 2021 would increase the federal minimum wage to $15 in five steps over the next four years. Beginning in 2026, the federal minimum wage then would be indexed to median wage growth under the bill, a similar version of which also is being introduced in the House.
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Greed is the reason the minimum wage (starvation wage) stays low; less for you means more for me.
Small businesses cant pay 15 dollar per hour and go under. Then big businesses will win and pay their workers 15 dollars per hour. After a few years they lobby the corrupt gov to take the wage per hour down vack to 7 dollars per hour. By that timr no more small businesses and Amazon and big corp wins again. Well done.
@@unvaccinatedAndPureBlood That’s a talking point with right wing “think tank” origins.
@@1drummer172 No, it's because you never started a business.
@@unvaccinatedAndPureBlood Wrong again; I’m a retired technology (cad/cam) business owner.
@@1drummer172 small business, right? Did you hire?
People get paid $7.25 and hour?? It makes me sick Hearing this!! That's not enough to live on period!! Something needs to be done about this🤦♂️
They're trying to pay people $9-10 per hour out here in las Vegas for things like cooking and construction
Here's the thing, you can't raise minimum wage and expect there not to be a change. For instance mcdonald's doesn't have the 1$ menu anymore because they have to compensate for the wage increase. Increasing minimum wage also decreases the amount of jobs, for instance if you go to stores in places where they have a high minimum wage they have reduced their jobs by half and replaced them with self checkout lanes.
@@1810jeff A big mac meal in Seattle cost 5.99, the same big mac meal in north carolina cost 5.99 ... 7.25 vs over 15 an hour. When you keep minimum wage the same for 12 years people earn less and less each year. The cost of living has gone up 40% since 2009, why do you think it's acceptable to pay people 40% less for the same work in 2021 as people did in 2009.
@@kevinsouza7744 Alright so it's more complicated than that, inflation has a lot to do with it. But if you raise the minimum wage a lot of people are going to get let go. First to be fired are cashier's and other jobs that can be done by a kiosk. In fact this has happened to McDonald's and your example of mcdonald's has to do with mcdonald's keeping their prices the same across the country but that big Mac meal did not cost 6$ a decade ago so combine inflation, regulation cost, wage increases and taxes and they start seeing increased prices like we see every other year. Another example would be 5$ footlongs from subway, now they're like 7$ minimum.
@@kevinsouza7744 You may want to check those numbers. It doesn't work like that in the Chicago area.
If you factor in the cost of food, fuel and utilities,, napkins, and other non edibles, maintenance, real estate, and the total capital investment required to install and operate a franchise, it's readily apparent what a 100% labor increase will do. No one will go into food service enterprise, period, and those who are already invested will be trying to sell. Good luck.
Well let them sell! That’s further proof of the value of OVERLY underpaid workers. No one should work for unlivable wages unable to provide for the needs of their own families.
The price of every item you listed rises, but minimum wage has not changed or kept up.
You think business (aspiring) owners have complaints. Well, guess how much more they would complaint if they earned minimum wage!
So people should continue to suffer so that a few businesses can survive
@@TIENxSHINHAN if they don't survive those same people will suffer even more, because they will have no job at all.
Blessings....
Just the *misleading* "facts" you mean. Here is some reality:
1) As the BLS notes, only 392,000 people make the federal minimum. Those *technically* making less include those effectively unemployable due to disability who are being paid charitably and tipped/commission workers who, as the BLS notes, pretty much universally make considerably more than the federal minimum (they can't make less - employers are legally obligated to make up any shortfall.
2) No one should ever take the claim of a politician seriously. The initial minimum wage amounted to no more than $4.61/hr in today's dollars. Only if you believe that that is enough to live on can you take seriously the claim that it was "meant to be the wages of a decent living". Spare me.
3) You don't restate current dollars; you restate historical dollars. The federal minimum is currently $7.25/hr. It was, again, initially, $4.61/hr and peaked at just under $12/hr in 1968. The average has been ... right about where it is now. There does not exist a valid justification for relying on the historical high point as a basis for comparison in any trend. Constant reference to the 1968 figure is inherently dishonest.
4) Actually, forget which "side" one is on. Look at the actual data and sound research. It does not bear out the claim of inflation (except a brief period of disequilibrium). It does bear out the loss of jobs and contraction of profits. It also shows that the equilibrium to minimize turnover costs and increase morale is already factored in to the market price for labor such that no benefit is realized by employers for any higher pay level. And, since minimum wage laws have been demonstrated to *decrease* the financial resources available to impacted workers, the notions that minimum wage laws help anyone "keep up" or stimulate the economy are absurd on their face.
Customers decide the revenue of a business. Revenue is what wages are paid from. Service and product draw and satisfy customers at a demand point. Cost must stay at or below price to hire or keep an employee. Government must now set prices and demand if they want to keep workers above revenue and what customers want as service and product. If customers refused to buy at the increased price the business must end or lay off workers or profit or cost of goods must be reduced. Government can lower government workers pay and give bonus to private workers possibly.
The minimum wage in 2003 was $7.25 an hour also.
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Entry level means you don’t have to know any thing about the tasks required to accomplish said tasks you learn as you go “OJT”
What does that have to do with minimum wage being stagnant for 12 years?
So since you're learning, you don't deserve to eat? By this logic, people have to be stuck in certain fields for the rest of their lives because trying something new could cost them everything.
Capitalism eventually goes back to feudalism.
In small towns people are paid, below minimum wage. Paid in cash and warned if they complain the company has two sets of books. Greed!
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This wont work until there is legislation regarding rent rates.
Predatory landlords are the true root of the problem around the world.
When wages go up they use it as an excuse to raise rents proportionally putting us right back to where we were.
We need to mandate that units of 300 square feet or less cannot rent for more that 40 hours net at minimum wage this will enable everybody to afford a place to live.
A salary cap of +25% should allow for people to transition to market rate housing.
Each year the landlord may request a W2 to verify eligibility.
This would also benefit fixed income retirees and the disabled.
Further making it mandatory that future construction of apartment buildings must each have a number of these units directed by the local permitting authority.
Thus insuring availability and allowing for growth of the community.
Finally, someone proposes a practical solution. Finally someone sees the real problem. The problem is the money takers, not the money givers! I don't thin the gov will ever make the kinds of laws you propose though. I think the only way to get rid of greedy landlords is to put them out of business. If I charge 350/month for a studio and Joe next door charged 850, he will go out of business. I hope t be a landlord 1 day.
dont sound like freedom...greed control dont work
This video only presents the arguments as to why minimum wage hasn’t been increased, it doesn’t go into any detail at all about why it hasn’t. Clickbait.
Good
There should BE NO MINIMUM WAGE. MINIMUM WAGE IS FOR MINIMUM WORKERS.
I bet not one single person here knows of anyone making $7.25 and hour.
23 million Americans earn between 7.25 and 11 an hour. Im sure everybody knows at least someone.
@@kevinsouza7744 Given that the source of the 23 million figure is the endlessly debunked National Employment Law Project and was from during the Obama administration, it's a lot less likely than you think.
I make 7.25 an hour
I live in Texas, so I know plenty of people making $7.25. There are hard labor jobs here paying only $10. Making the federal minimum wage is incredibly common in the South.
@@FletchforFreedomwhy are y'all so happy to side with corporations over workers? You don't own anything. You don't make any money from the minimum wage being $7.25. What do you gain by selling people out?
Should be 13 now
Should be $25. $13 isn't close to enough to survive on anywhere in the US.
@@TIENxSHINHAN I lived with 7.25
What do these people not understand about entry level jobs, this is where you don’t need any experience , you haven’t proven to have a work ethic , you are training and getting paid, you are not expected to stay very long because is just a steppingstone to better paying jobs , once you improve yourself thru education , work ethic and experience in a career then you can demand your pay for your worthy work
College degrees and trades aren't learned overnight, 7.25 is not acceptable in 2021.
A job is a job. "Entry level" means nothing.
@@frankverdino477 A job is a job and every one pays the worker the full value for it.
Entry level jobs are also at white collar jobs too. An entry level white collar job might get u $40,000 a year and that’s w/ experience. Not everyone is able to afford college because a degree is $80,000 minimum and that’s if u don’t go to graduate school.
For people who can’t afford college the need to be able to afford to live and have basic necessities too. They won’t have the best lifestyle but they also deserve a liveable wage, housing, food, etc. The cost or rent, and housing continues every single year, as well as food, bills, taxes, etc. so the minimum wage staying at a flat $7.25 for over a decade is insanity. The minimum wage should be $15 minimum
@@TooMuchShantae69 just speaking about lowest level jobs, many ways a person can improve his knowledge these days of the internet, you can teach yourself almost anything I’m 73 and I’m constantly looking up things with answers instantly shame on the person that doesn’t take advantage of such opportunity
if min wage was meant to be higher, market forces would have driven it that high
Lol! "Market Forces" also drive wages down.
@@frankverdino477 Yes, it's called supply and demand. Lots of unskilled workers for relatively few jobs make the wages go down. Few high-skilled workers make the wage go up.
@@frankverdino477 While it is certainly possible under devastating economic conditions for worker pay to fall, that is by far the exception. While there have been brief drops during economic downturns, the trend has been entirely positive for centuries. In fact workers have never been better compensated in history (making half again as much as when the so-called period of "stagnation" (long debunked) began.
I agree 7.25 isn’t enough however at 15.00 there will be less jobs, times are different people don’t seem to want low paying jobs , by 19 yrs old I had already advanced to four jobs cause I started looking for a better job as soon as I got hired , made me versatile and my resume was impressive, I’ve never been unemployed for more then a couple of weeks
But some one still had to do the job you left. Someone always will have to do those jobs.
@@frankverdino477 No, that's wrong. Minimum wage laws result in nothing but disemployment. Those jobs are *eliminated* and no one "needs" to do them. Some businesses will cut hours, some will cut complement, some will close but the notion that the economy (or the employer) must have those people is utter nonsense and contrary to reality.
@@frankverdino477 in my country that someone is a teenager who gets replaced by another teenager in a short amount of time.
Republicans
We need people to work cheap so owners can make more money for themselves.
Lol first
Second