I’ve talked about the minimum wage a lot here at Difficult Run. The following comes from the Congressional Budget Office’s July report. It pretty much captures one of the major trade-offs of minimum wage hikes.
The people who get the wage increases will obviously be better off. Not so for the 1.3 million (at $15 an hour) who lose their jobs.
So the question boils down to this: are we willing to make that trade?
2 thoughts on “CBO on the Minimum Wage”
There are a lot of people who have minimum-wage jobs. Here are two kinds: kids having part time jobs and struggling adults who often have multiple minimum-wage jobs to make ends meet.
If the struggling adults have to have fewer jobs to make ends meet, that’s a win-win.
“If the struggling adults have to have fewer jobs to make ends meet, that’s a win-win.”
I see. Because out of that 1.3 million jobs lost, it will *only* disemploy teenagers and make life easier for struggling adults working multiple jobs.
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