A $10 minimum wage would save $7.6 billion annually in spending according to the EPI

Padawanbater2

Padawanbater2

Well-Known Member
The key findings are:

  • About half of all workers in the bottom 20 percent of wage earners (roughly anyone earning less than $10.10) receive public assistance in the form of Medicaid and the six primary means-tested income-support programs, either directly or through a family member. These programs include the Earned Income Tax Credit (EITC); the Supplemental Nutrition Assistance Program (SNAP), also known as food stamps; the Low Income Home Energy Assistance Program (LIHEAP); the Supplemental Nutrition Program for Women, Infants, and Children (WIC); the Section 8 Housing Choice Voucher program; and the Temporary Assistance for Needy Families program (TANF) or equivalent state and/or local cash assistance programs.
  • Workers in the bottom 20 percent of wage earners receive over $45 billion in government assistance each year from the six primary means-tested income-support programs.2
  • Roughly half of all public assistance dollars from means-tested income-support programs that go to working individuals go to workers with wages below $10.10.
  • If the minimum wage were raised to $10.10, more than 1.7 million American workers would no longer rely on public assistance programs.
  • Raising the minimum wage to $10.10 would reduce government expenditures on current income-support programs by $7.6 billion per year—and possibly more, given the conservative nature of this estimate. This would allow these funds to be repurposed into either new programs or expansions of existing programs to further leverage the poverty-fighting impact of this spending.3
  • Safety net programs would save 24 cents for every additional dollar in wages paid to workers affected by a minimum-wage increase to $10.10.

Full Article Here
 
A

althor

Well-Known Member
I am 100% on board for a $10 an hour minimum wage. That is a realistic pay bump for minimum wage.
I find it ridiculous to go from 7(whatever) to 15, that is such a huge jump it will echo problems.
 
bluntmassa1

bluntmassa1

Well-Known Member
Well that is actually reasonable and give it 2 years and up it $2 more much better than doubling the pay overnight that will give small business owners a much better opportunity to stay in business.
 
SneekyNinja

SneekyNinja

Well-Known Member
althor said:
I am 100% on board for a $10 an hour minimum wage. That is a realistic pay bump for minimum wage.
I find it ridiculous to go from 7(whatever) to 15, that is such a huge jump it will echo problems.
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Economically we could reasonably go to about 11 bucks an hour with practically no pain because lower wage workers tend to put any increases they make directly back into the real economy.
 
dbkick

dbkick

Well-Known Member
Fucking mcdonalds here will start you out at 10 an hour, same as budtender and trimmer.
If you really want to make the money become an extract pro and earn 15 whole dollars an hour.
 
C

Catfish1966

Well-Known Member
Padawanbater2 said:
The key findings are:

  • About half of all workers in the bottom 20 percent of wage earners (roughly anyone earning less than $10.10) receive public assistance in the form of Medicaid and the six primary means-tested income-support programs, either directly or through a family member. These programs include the Earned Income Tax Credit (EITC); the Supplemental Nutrition Assistance Program (SNAP), also known as food stamps; the Low Income Home Energy Assistance Program (LIHEAP); the Supplemental Nutrition Program for Women, Infants, and Children (WIC); the Section 8 Housing Choice Voucher program; and the Temporary Assistance for Needy Families program (TANF) or equivalent state and/or local cash assistance programs.
  • Workers in the bottom 20 percent of wage earners receive over $45 billion in government assistance each year from the six primary means-tested income-support programs.2
  • Roughly half of all public assistance dollars from means-tested income-support programs that go to working individuals go to workers with wages below $10.10.
  • If the minimum wage were raised to $10.10, more than 1.7 million American workers would no longer rely on public assistance programs.
  • Raising the minimum wage to $10.10 would reduce government expenditures on current income-support programs by $7.6 billion per year—and possibly more, given the conservative nature of this estimate. This would allow these funds to be repurposed into either new programs or expansions of existing programs to further leverage the poverty-fighting impact of this spending.3
  • Safety net programs would save 24 cents for every additional dollar in wages paid to workers affected by a minimum-wage increase to $10.10.

Full Article Here
Click to expand...
Basically, shift cost born by government now to private sector. And then use those "savings" to fund more giveaways? So no savings at all then?
 
C

Catfish1966

Well-Known Member
Unclebaldrick said:
Is Obama is secret Muslim who founded ISIS?
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No, but he self declared as a Muslim when entering school in Indonesia before converting to the church of "God Damn America" and has materially helped ISIS through ineptness in foreign policy. Any other opinions you'd like to tell me I have?
 
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