Biden’s Economic Policy Will Wipe Out Millions of American Jobs

Gage Skidmore Flickr

Democrat presidential nominee Joe Biden has been proclaiming his plans to enact a $15 federal minimum wage throughout his campaign. However, it’s clear the Democrat has never stopped to think about the exact costs this would have on employers and employees. To believe that every small business owner can suddenly afford to, in some cases nearly double workers wages without it taking a toll on their business is ridiculous.

A new report shows exactly how much Biden’s $15 minimum wage will cost, and the result is a loss of 2 million American jobs. Not only will there be massive job cuts but those most impacted by are sure to be minorities and workers in entry-level or low-skill jobs, the very groups Biden is relying on to get him elected and he has sworn to protect.

In a report fro the Washington Free Beacon:

“Not only are 59 percent of minimum wage jobs held by women and slated to be affected by these wage increases, this means that 1.2 million jobs held by women will be lost by 2027 due to this policy, accounting for 61 percent of total losses,” the report says.

EPI managing director Michael Saltsman said the Biden-backed policy would only exacerbate the financial woes of small businesses amid the pandemic.

“Business owners across the country are already facing a great loss after the economic downturn caused by the coronavirus,” Saltsman told the Washington Free Beacon. “Increasing labor costs through a federal $15 minimum wage would only bring businesses—and the people they employ—closer to the point of no return.”

“Federal and state policymakers must take into account the impact of enacting a $15 federal minimum wage, especially as placing the burden of steeply rising labor costs on employers on top of COVID-19 struggles will cause businesses to reduce their employment or close altogether,” the report states.

The loss of 2 million American jobs is not enough to make Biden blink, meanwhile, Donald Trump is working tirelessly to bring the economy back to what was prior to the Coronavirus pandemic and working to create new jobs. Biden claims he wants what’s best for the American people but clearly he does not care about the long-term effects his Leftist policies will have on millions of hard-working American families.



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Arjay
Arjay
1 year ago

Obviously those IDIOTS haven’t seen the REAL results in the cities that have implemented the $15 minimum wage mandates!!

THOMAS
THOMAS
1 year ago

A raise to $15.00 would raise the cost to consumers for goods and services !
The raise would be eaten up ! Just a FAKE RAISE Promise by the Left !

LJR Justice
LJR Justice
1 year ago
Reply to  THOMAS

OH, YES.. A RAISE IS THE ANSWER?..ALONG WITH THE COST OF LIVING AND BUYING WHAT WE NEED TO LIVE GOES UP AS WELL….STUPID IS, STUPID DOES..!!!

Sara Horvath
Sara Horvath
1 year ago

Jobs at fast food places and convenience stores are so simple that they don’t deserve to be paid $10 an hour, let alone $15! The minimum wage should be $8. That’s reasonable.

Casey
Casey
1 year ago
Reply to  Sara Horvath

That is still to much. Set the minimum wage and then let the market drive what the salaries will be. Better employees will get paid more because their businesses will want to retain them and because businesses recognize the high cost of training.

Mark
Mark
1 year ago
Reply to  Casey

that’s called FREE Market. and it works for those that want to work and improve themselves the Lazy ones don’t work hard and want more pay just for showing up.

IScream2
IScream2
1 year ago
Reply to  Casey

Better yet – Show me where in the Constitution it says that the Federal government has the right to set a minimum wage….

William Moore
William Moore
1 year ago
Reply to  Sara Horvath

The minimum wage debate is a double edged sword. Jobs like fast food and convenience store clerk aren’t meant to be a career or long term thing. Low skilled jobs such as service jobs that don’t require a lot of education are like this. Most if not many of these jobs are done by young people just getting into the workforce. Some are done by adults as survival jobs until something better comes along. Low paying jobs are a great incentive to get a good education that moves you up the wage ladder. Bottom line, businesses that have to pay minimum wage will just pass the costs on to their customers.

rick dees
rick dees
1 year ago

hmmm, Biden, like all “free stuff’, “tax and spend”, Democrats, ie., Socialists, slavers hungrily at the prospect of a $15 minimum wage. It buys lotsa votes from those who incorrectly see this as a path to wealth. Inflation, ie., prices for goods and services will go up, of course, and many employers will cut back on staff to try to survive. The Government will benefit greatly, as corresponding tax revenues will increase, allowing for increased Government spending to again buy votes. Any gains will be fleeting as eventual inflation will force all of us to spend more and more for the same goods and services.

Eliot
Eliot
1 year ago

We already see fast food orders being taken at kiosks.
Let’s raise it to $20.00 per hour so we can put even more people out of work.
Career bureaucrat politicians, who have never worked for a living, should not be allowed to do ANYTHING having to do with the economy.

Casey
Casey
1 year ago

Biden is an economic ignoramus but since every democrat is the same he can get away with saying this kind of stupid stuff.

BigD
BigD
1 year ago

Democraps do not understand basic math. They can’t count to 21 without being indecently exposed

Mark
Mark
1 year ago

the guy has NEVER had a JOB in his life, he has NO clue how Business works.

Jim Pierce
Jim Pierce
1 year ago

It is a known fact that this will eliminate jobs across the country! It has before and will again if enacted. What say uncle joe to those left jobless?

F F Tramutola Jr.
F F Tramutola Jr.
1 year ago

THEY ARE ALL SOROS SLAVES. HIS GOAL, DESTROY US. OUR QUESTION TO POTUS, WHY IS SOROS STILL ALIVE?

LJR Justice
LJR Justice
1 year ago

47 YEARS,…IT’S TAKEN HIM THIS LONG??…I HAVE SEEN NOTHING IN HIS PAST DO NOTHING EXCEPT CROOKED DEALINGS THEN OR EVEN NOW THAT TELLS ME TO PUT TRUST IN WORDS AND LIES ? !! EXCEPT FILLING HIS POCKETS…

Scotty
Scotty
1 year ago

What ever Kamala does will be a disaster for Americans, except for criminals. Joe won’t make it to January 20th, if elected.
The solution? Vote Trump and Republicans!

Billy Q
Billy Q
1 year ago

Why don’t people remember that Biden is a life long politician he has been telling people for 50 years all the things he is going to do for them and what has he done ………nothing !!!! but like sheep the evil DemonRatz that are blinded by the Devil see his adds on TV and they really believe the BS like zombies it’s unbelievable and then you have Trump who has done 99% of everything he said he was going to do and still the ZombieRats just keep voting for idiots and Demons

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