Will Biden raise the federal minimum wage from 7.25 USD per hour to 15 USD?

[slapper]

https://www.cnbc.com/2021/01/14/biden-calls-to-raise-the-federal-minimum-wage-to-15-per-hour.html

The federal minimum wage is poised to get its first update in more than a decade.

President-elect Joe Biden on Thursday said he will ask Congress to boost the federal minimum wage to $15 per hour from the current $7.25 per hour. The federal minimum wage has not been increased since 2009.

The call to raise the federal minimum wage is part of a larger $1.9 trillion coronavirus aid package called the American Rescue Plan aimed at helping boost the U.S. economy from the damage of the pandemic.

“There should be a national minimum wage of $15 an hour,” Biden said during a Thursday night speech. “Nobody working 40 hours a week should be living below the poverty line.”

Will the US business suffer from the increased labor costs?
Will Biden and the democrats keep their promise?
Stupid question:Will the American working class buy more Bitcoin,if they have bigger salaries?
Some economists say that the current federal minimum wage is way lower than the labor productivity,so increasing the minimum wage will lower the profits of the business,while boosting the consumption of the working class.

IMO $15 is unrealistic, but the Democrats & Republicans can reach an agreement around $10-$11 as it's not increased for more than ten years.

$15 is too high for more of the pooper states and could lead to many business bankruptcies.

Totally agree with you. It can not happen in just a step like that. $7.5 to $15 is 100% in increase. This firmly changes the whole situation of the country. $10 is more realistic than this one

A long process of applying new minimum wage should be held by now if BIden really wants to double it. And as you mention, this increase definitely damage different businesses and make them soon bankrupt. But the say thing is that it only impact small and medium businesses while BIG GUYS are still invulnerable.

[kaya11]

I guess he should be raising wages knowing he is adding more taxes to his constituents. Especially in times like these which thr people arr having a hard time making a living. Let's see what he dors for the better, we are waiting good news, all around the world is watching for the goodness of America and it's people.

[mu_enrico]

I don't understand this president and why he got 80 million votes. He canceled the Keystone XL pipeline that makes lots of people lost their job in this pandemic, and adding this minimum wage increase will only make the situation worse.

But the worst thing is still the media. The complete sucking up to this administration is so blatant. Biden canceled the pipe = great, Biden raise the minimum wage = awesome, The US economy tanked = that's because of Trump.

[Silberman]

I don't understand this president and why he got 80 million votes. He canceled the Keystone XL pipeline that makes lots of people lost their job in this pandemic, and adding this minimum wage increase will only make the situation worse.

But the worst thing is still the media. The complete sucking up to this administration is so blatant. Biden canceled the pipe = great, Biden raise the minimum wage = awesome, The US economy tanked = that's because of Trump.

That is because unlike other countries in which the media is neutral and for the most part is just informing the public about what it is happening through the country, the media in the US is partisan and the majority supports the Democrats, a small minority supports the Republicans and I have yet to find a single source that is neutral, so get used to it, whatever Biden does is going to be celebrated no matter how bad it is for the economy and whatever goes wrong will be blamed on someone else.

[Sithara007]

That is because unlike other countries in which the media is neutral and for the most part is just informing the public about what it is happening through the country, the media in the US is partisan and the majority supports the Democrats, a small minority supports the Republicans and I have yet to find a single source that is neutral, so get used to it, whatever Biden does is going to be celebrated no matter how bad it is for the economy and whatever goes wrong will be blamed on someone else.

That is not the case. The media is not neutral anywhere in the world. Even here in India, the media is divided on the basis of political affiliation. We have channels such as Republic TV, Zee News.etc who support the right-wing ideology, and on the other side we have channels such as NDTV, India Today, Aaj Tak.etc with the left-wing ideology. Same is the case in the United States as well. They have channels such as Fox News which support the Republicans, and CNN, MSNBC.etc which support the right-wing.

[stompix]

That is because unlike other countries in which the media is neutral and for the most part is just informing the public about what it is happening through the country,

What other countries are you talking about?
UK with The Guardian and The Sun?
France with L'Humanité  and La Croix ? 
Or about Russia with Russia Today and that's all as all the papers and tv station are owned by Kremlin?
Give one example where the top 5 TV stations and newspapers are not biased, one!

Back to the 15$ plan, seems like is not going to happen, even Sanders has doubts:
https://www.businessinsider.com/the-senate-rejects-raising-15-minimum-wage-during-pandemic-2021-2

"It was never my intent to increase the minimum wage to $15 an hour immediately during the pandemic," Sanders said. "My legislation gradually increases the minimum wage to $15 an hour over a five-year period, and that is what I believe we ought to do."

I wonder how his voters feel right now.

[Obito]

I guess he should be raising wages knowing he is adding more taxes to his constituents. Especially in times like these which thr people arr having a hard time making a living. Let's see what he dors for the better, we are waiting good news, all around the world is watching for the goodness of America and it's people.

This should've happened a long time ago, the gap between inflation of daily items and the daily household of a minimum wage earner is so big right now that workers do not have the time to do something better, and to make it more better, their administration should impose big taxes on the higher income households and companies, and they should stop giving megachurches a tax free living, you see how Osteen is living a mansion and all he does is preach the Lord and receive tithe.

[Twinkledoe]

I guess he should be raising wages knowing he is adding more taxes to his constituents. Especially in times like these which thr people arr having a hard time making a living. Let's see what he dors for the better, we are waiting good news, all around the world is watching for the goodness of America and it's people.

This should've happened a long time ago, the gap between inflation of daily items and the daily household of a minimum wage earner is so big right now that workers do not have the time to do something better, and to make it more better, their administration should impose big taxes on the higher income households and companies, and they should stop giving megachurches a tax free living, you see how Osteen is living a mansion and all he does is preach the Lord and receive tithe.

I want to agree with your last statement. Some of these people are just using the name of Church to avoid paying taxes and they are also the ones continuously receiving donations even in times of pandemic. They don't get hungry as they have always money. I believe there are a lot of these "Pastors"  or Church Leaders that are just using the name of the Church to live comfortably. But raising to more than 200% I believe is not the right time as businesses are not yet ready for that big raise.

[Vishnu.Reang]

This should've happened a long time ago, the gap between inflation of daily items and the daily household of a minimum wage earner is so big right now that workers do not have the time to do something better, and to make it more better, their administration should impose big taxes on the higher income households and companies, and they should stop giving megachurches a tax free living, you see how Osteen is living a mansion and all he does is preach the Lord and receive tithe.

Higher income house holds are already paying almost half of their income as tax, and you want to increase this further? It will be a historic blunder to penalize wealth creation. Already there are tax slabs in existence in the US, and the large majority of the households pay only 12% or lower rates as tax. On the other hand, the rate for the topmost slab is 37%. The so called "rich" are already paying 3-4 times more tax in proportion to the others. Increase it any further and they will just pack their bags and move to some country where the tax laws are more favorable.

BTW, I am of the opinion that the churches should be taxed. Why there should be an exception for them while others are paying their taxes? Also, there is hardly any positive contribution coming out from these institutions.

[Obito]

~snip

I want to agree with your last statement. Some of these people are just using the name of Church to avoid paying taxes and they are also the ones continuously receiving donations even in times of pandemic. They don't get hungry as they have always money. I believe there are a lot of these "Pastors"  or Church Leaders that are just using the name of the Church to live comfortably. But raising to more than 200% I believe is not the right time as businesses are not yet ready for that big raise.

Then how come most businessman have already recovered to the damage that the pandemic caused, the big companies are still earning big money and I think that it is a justifiable thing to do because they are also the people responsible for never increasing the minimum wages, what it really means when they say that their business is not ready is that they are not ready to get their big profit being cut for taxes. You are right about this megachurches they are some of the biggest legitimate criminal in the world, preying on the hope that God is there by their side.

~snip

Higher income house holds are already paying almost half of their income as tax, and you want to increase this further? It will be a historic blunder to penalize wealth creation. Already there are tax slabs in existence in the US, and the large majority of the households pay only 12% or lower rates as tax. On the other hand, the rate for the topmost slab is 37%. The so called "rich" are already paying 3-4 times more tax in proportion to the others. Increase it any further and they will just pack their bags and move to some country where the tax laws are more favorable.

Yes, I want that to increase, you know the reason that they are still rich? That is because of their tax write off and charity donations which nullifies their tax payment and if the rich is really paying tax then how come Jeff Bezos pays almost 0 in taxes?

~snip

BTW, I am of the opinion that the churches should be taxed. Why there should be an exception for them while others are paying their taxes? Also, there is hardly any positive contribution coming out from these institutions.

Because we are still tied to the archaic notion that church and the state is separated. This means that the church can't intervene with state affairs and in return the state will not involve them in their affairs, but those are just words that are meant to be broken.

[Vishnu.Reang]

~
Yes, I want that to increase, you know the reason that they are still rich? That is because of their tax write off and charity donations which nullifies their tax payment and if the rich is really paying tax then how come Jeff Bezos pays almost 0 in taxes?

That doesn't make any sense. Because you can't have a group of people paying 12% tax, and another group paying 50%. It will eventually result in high-income group moving to other countries. The solution is to remove the loopholes used by the super-rich to avoid paying taxes. Because if Jeff Bezos pays no tax, then he will continue to do so even if the tax rate is increased to 50% or even 80%. On the other hand, those who pay their taxes honestly will be negatively impacted. To put it simply, there should not be any tax write-offs and exclusions for charity donations. Everything should come under the tax umbrella.

[RealMalatesta]

Will the US business suffer from the increased labor costs?
Will Biden and the democrats keep their promise?
Stupid question:Will the American working class buy more Bitcoin,if they have bigger salaries?
Some economists say that the current federal minimum wage is way lower than the labor productivity,so increasing the minimum wage will lower the profits of the business,while boosting the consumption of the working class.

Everyone who thinks 15 dollars is "impossible" should realize that if the federal minimum wage kept up with the federal inflation, it should have been 23 dollars right now. Which means every business should be earning enough to pay people 23 dollars per hour, and if they do not offer that and they will "go bankrupt if they pay 23 dollars" that means they didn't increased their prices according to the inflation neither, and that is the wrong part.

We have tens of millions of jobs that corporations pay as minimum as possible, specially working people under 40 hours but do not make them work 10-20 neither, they make them work 39 hours exact so they do not have to give them benefits, and in the end we are talking about is 15 too much. 15 is not too much, 15 is exactly what every business has to pay and the ones that can't should not exist because they are failed business' if the only thing that makes them stay afloat is 7.5 dollars per hour difference, a good business would survive that and even more.

[bryant.coleman]

Everyone who thinks 15 dollars is "impossible" should realize that if the federal minimum wage kept up with the federal inflation, it should have been 23 dollars right now. Which means every business should be earning enough to pay people 23 dollars per hour, and if they do not offer that and they will "go bankrupt if they pay 23 dollars" that means they didn't increased their prices according to the inflation neither, and that is the wrong part.

We have tens of millions of jobs that corporations pay as minimum as possible, specially working people under 40 hours but do not make them work 10-20 neither, they make them work 39 hours exact so they do not have to give them benefits, and in the end we are talking about is 15 too much. 15 is not too much, 15 is exactly what every business has to pay and the ones that can't should not exist because they are failed business' if the only thing that makes them stay afloat is 7.5 dollars per hour difference, a good business would survive that and even more.

There are jobs where the staff receive tips, for example restaurant waiters. If the $15 per hour minimum wage is made applicable across these sectors, then it will impact very negatively on the business. Also, the main question is whether $15 per hour as minimum wage is fair or not. The question is whether the timing is right. The unemployment rate is at all time high, and this move will just worsen the unemployment crisis in the United States.

[RealMalatesta]

There are jobs where the staff receive tips, for example restaurant waiters. If the $15 per hour minimum wage is made applicable across these sectors, then it will impact very negatively on the business. Also, the main question is whether $15 per hour as minimum wage is fair or not. The question is whether the timing is right. The unemployment rate is at all time high, and this move will just worsen the unemployment crisis in the United States.

First of all if there is a job that gets tips on top of that 15 dollar per hour, let them be, that is their right and that is how it should be done, there is no reason why people should not make more money, there is literally zero argument to be made that people should be making less money than they possibly can with this, like I said any business that can't handle 50 year inflation and can only survive by paying 1970 wages to not fire people should bankrupt and owners should be so broke that they end up working for 7.25 dollars themselves to understand the problem.

However the unemployment is just a ruse that rich people use to show you how it is not the right time, believe me this is the right time, the grocery store type places, amazons, walmarts, targets and many other places made combined 1.8 trillion profit in 2020 thanks to pandemic, their workers got extra pay for just one month. Believe me the money is there, if companies start firing people that is because they are greedy not because they can't afford it.