Posted on 05/05/2023 8:34:07 AM PDT by Red Badger
WASHINGTON–Sen. Bernie Sanders (I-Vt.) introduced a bill on May 4 to raise the federal minimum wage to $17 per hour. The proposal, which is more than double the current rate of $7.25, was unveiled to the cheers of various labor leaders outside Capitol Hill.
“It is time to pass a new livable wage,” Sanders said. He was joined by AFL-CIO President Liz Shuler, who said the increase would not burden large corporations, citing a leaked McDonald’s earnings call wherein the CEO says the company would do “just fine” under a $15 minimum wage.
Last December, McDonald’s opened its first largely automated restaurant, a concept that is still in its infancy as humans are still needed to cook and prepare the food.
When asked if the increase to the federal minimum wage would disproportionately increase costs for small businesses, as opposed to corporations, Sanders rejected the premise.
“[Small business] can handle it … we’re not increasing the cost of business,” he told The Epoch Times. “When these people are able to earn a living wage—you know what—maybe they’re going to be able to go out and buy a damn hamburger.”
Sanders argued that the Democrats’ previous goal of raising the minimum wage to $15 was no longer sufficient, as the dollar’s purchasing power has eroded over time. Accounting for the recent spike in inflation, a $17 wage is roughly equivalent to $14.50 pre-pandemic.
Critics of the increase say higher wages are a key contributor to rising inflation and that such policies will only worsen the problem for low-income wage-earners.
“What’s causing the dollar to lose its purchasing power?” said 2024 Libertarian presidential front-runner Dave Smith during an episode of his podcast last week. “[Sanders] just seems to have no thought, ‘Oh yeah, there actually might even be a connection between the policies you advocate for and the fact that inflation is destroying the purchasing power of the dollar.’”
Although many states have raised their minimum wages in recent years, the federal rate of $7.25 still applies in the 20 states that do not mandate a higher one. Congress has not voted to increase the federal minimum wage since President George W. Bush signed a series of increases into law in 2007.
The bill introduced by Sanders is expected to face resistance from Republicans, who have long opposed raising the minimum wage, arguing that it would lead to job losses, exacerbate inflation, and hurt small businesses.
Also speaking at the event was Economic Policy Institute President Heidi Shierholz, who argued that an increase in the minimum wage would boost economic activity and only lead to minimal job losses.
Expanding on her premise, The Epoch Times asked Shierholz why then an even higher minimum wage would not be preferable.
“Nobody is suggesting a $100 an hour minimum wage,” she said. “We know that particularly low wage employers have the power to suppress wages … that’s inefficient.”
How will that effect inflation? What will people do that don’t provide $17/hour worth of value to their employer?
Bernie the Commie, show me someone who is working for $7.25 an hour? All the fast food places around here have signs that say $12 an hour.
Bernie is an idiot, but we all knew that. The communist thinks adding costs does not add costs.
Its definitely NOT Bernie.. who is doing quite well by Communist’s standards. Heck, he’s doing alright by Capitalist standards.
Bernie - of course - does not care about small business employees’ ability to “buy a damned hamburger.” He cares about big labor unions with contracts tied the Federal minimum wage - and a vast increase in their future political contributions.
Paying $17 an hour costs more than $25 an hour, I’ll wager.
How about passing a bill that pegs the Federal minimum wage to the CPI, and the Department of Labor can announce an annual adjustment to the minimum wage.
He’s never done anything in business but rip it off. This guy is a moron and a fool. Typical communist.
Sit down, you old codger.
No Bernie, you are not increasing the cost of business. You are increasing the cost to the consumer.
We need age limits on Congress people........................
This is conspiring to gather more DemoCommie votes.
“a $100 an hour minimum wage”
A lot of these knuckle heads would work for half a day and quit. Seriously. I’ve seen people quit after a half day at $12/hr.
The ignorant amongst us spew this nonsense and a willing media reports as factual.
It’s long past time for this geriatric simpleton to enter a mental asylum
What more can you expect from an economics ignoramus who build a career feeding at the public trough?
Bet he’s running in 2024.
The stupid commie sap still doesn't get the connection between the price of the hamburger and the cost of making it. Like chasing a carrot tied to the end of a stick.
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