Economist at the Center on Budget & Policy Priorities
and economic adviser to Vice President Biden
“The 'simple textbook prediction' that raising wages
results in job loss has been proven wrong and too
simplistic. There are various ways in which the higher wages
are offset that don't include losing jobs, including
redistributing profits and adapting prices”
“Even if employers give workers fewer hours,
workers' hourly wages would be higher so they
could still come away with higher earnings”
Economist at the American Enterprise Institute and
former advisor to John McCain & Mitt Romney
“Lifting the minimum wage would result in job loss.
A bunch of workers would get bigger checks while
a bunch of workers would have to lose their jobs”
“Subsidies, like the Earned Income Tax Credit,
would give low-wage earners more take-home pay.
But the subsidies make it so taxpayers share the burden
of supporting workers, rather than the workers who
lose their jobs due to wage increases”
States must at least meet the federal wage baseline of $7.25.
These four McDonald's workers shared their monthly budgets to show how their spending stacks up to the controversial McDonald's sample.
Fast food and retail store workers have joined in a wave of protests nationwide since November, asking for higher wages and more hours. How did it affect them? These four workers share their stories.
While fast food and retail workers have been protesting low wages, Costco has struck a balance between making money and also paying its workers well.