Biden Setting Federal Minimum Wage At $15, But His Executive Order Doesn't Include A Past Promise On

[mystery-ak]

Biden Setting Federal Minimum Wage At $15, But His Executive Order Doesn't Include A Past Promise On The Issue


Christian Datoc
Senior White House Correspondent
April 27, 2021 9:29 AM ET

President Joe Biden will sign a new executive order Tuesday that will raise the minimum wage for federal contract workers to $15 an hour, from the current rate of just under $11.

The new order will be fully implemented by March 2022. The White House said that Biden’s planned action doesn’t include a past pledge to instate a new benefits package into federal contracts.

Biden originally signed an executive order Jan. 22 that directed the Office of Management and Budget to provide him with options for both instituting a $15 minimum wage and providing “emergency paid leave to workers.”

more
https://dailycaller.com/2021/04/27/biden-federal-contractors-minimum-wage-15-dollars-executive-order/

[IsailedawayfromFR]

Why not make it $50?

Money is created out of thin air isn't it?

[240B]

Why not make it $50?

Money is created out of thin air isn't it?

Yep.
$15 will start out big. Then prices will naturally adjust upward. And $15 suddenly becomes the new $3.
What Liberals cannot comprehend is that the dollar amount does not matter.
The only thing that matters is what you can buy with it (this is called the market basket value of money).
When the minimum wage is raised, the actual real value of a dollar drops.
Over time the raise is incorporated into the economy, everything adjusts to a real value state, and winds up right back to where it was in the beginning.

[IsailedawayfromFR]

Yep.
$15 will start out big. Then prices will naturally adjust upward. And $15 suddenly becomes the new $3.
What Liberals cannot comprehend is that the dollar amount does not matter.
The only thing that matters is what you can buy with it (this is called the market basket value of money).
When the minimum wage is raised, the actual real value of a dollar drops.
Over time the raise is incorporated into the economy, everything adjusts to a real value state, and winds up right back to where it was in the beginning.

Except taxes, which will rise to benefit the government, as they get a %.

[GtHawk]

Except taxes, which will rise to benefit the government, as they get a %.

The only entities that ever benefit from minimum wage increases are union members whose contracts ties their wage to the minimum, state, local and federal taxing authorities. All the ignorant masses that believe the snake oil of the socialists always get a rude awakening when they see the increased taxes in their paychecks and reduced buying power at the stores. But hey at least no one is making mean tweets, right?

[Smokin Joe]

But this is for Federal Contract Workers, not mr and mrs po' folk, trying to get a toehold on the workplace (commonly demolished by COVID restrictions).

So If you aren't working for the gubmint, it doesn't mean you.

But that won't mean you get to pay the same prices an them.

You also won't get some of the tax deductions now reserved for Federal Employees, either. (formerly Form 2106 deductions for the schmucks).