Rounds: $15 Minimum Wage Would Damage Our Economy By Killing 1.4 Million Jobs
WASHINGTON—U.S. Sen. Mike Rounds (R-S.D.) today issued the following statement after the non-partisan Congressional Budget Office (CBO) released a report detailing the devastating impacts of President Biden’s proposed $15 minimum wage increase.
“As a former governor and business owner, I understand how important economic policies are in making sure businesses have opportunities to grow and create jobs.
“President Biden continues to embrace a radical left-wing agenda by pushing policies like a $15 federal minimum wage, which would kill an estimated 1.4 million American jobs and damage our economy.
“In South Dakota, I’ve already talked to several small business owners who have indicated they will be forced to cut staff just to stay open should this drastic hike to the minimum wage take place.
“We are in the middle of a pandemic. Our businesses have faced enough hardship already. We don’t need to add additional injury. Our goal should be to enact business-friendly policies that promote economic growth and job creation.”
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I completely concur! $15 per hour might be fine for some big, fancy, wine-drinking, east coast liberal, but I refuse to pay my God-fearing, beer drinking, hard-working, South Dakota born and raised employees more than $7.25 per hour. No way are they gonna get paid more than that, and no way are they gonna work for that. Joe Biden, keep your nose out of our great country; Rushmore Country…..God bless you Kristi Noem!
Your lack of understanding basic economics say it all. Facts over feelings.
At one time I was going to look up the origin of the “jackass” as the symbol of the Democrat party.
I don’t have to look anymore.
Current federal minimum wage $7.25, passed 10 years ago. Enough of this trickle down economic BS
Mr. Tom is righter than right. I say if you want to make more, work harder. If you don’t like your job, quit. The workforce in South Dakota is in a state where any hardworking fellow can get whatever job he wants. Stop being a low paid grunt and get more ambitions.
Mr. Tom is right. Nobody should have to work for $7.95 and hour, if they get off their butt and work harder.
yes, because that completely possible living in captive markets such as Faith, Lemmon, Cresbard, Highmore – it’s not like every rural town has opportunities like Sioux Falls, Rapid City, Aberdeen, Watertown.
This is why the majority of the best and brightest leave the state. Aside from Ag – the best thing South Dakota exports is it’s future talent.
If you can’t make a livable wage, you can’t stay where you’re at. Though, I personally think this raise should be tied to some sort of work training or educational requirement and not just a willy-nilly artificial pay increase.
I believe President Biden has stated on record that he is open to incrementally increasing the minimum wage over several years. Sounds like a good compromise to me.
Do you think Joey will remember if he said that? Democrats don’t even admit something that is proved by audio/video: remember the firing of the guy in Ukraine?
It’s none of Biden’s business what SD approves for a minimum wage. Setting minimum wage levels is a state function. Minimum wage decrees make it hard for kids and elders looking for a first job or a job to merely supplement retirement. Employers will invest in robotics, not because they want to deprive willing workers of employment opportunities, but because they cannot afford to pay artificially elevated minimum wages. Remember: an employee costs more than twice the actual wage when work comp, SSI contributions, benefits, etc. are figured in.
You’re dumb – there is a FEDERAL MINIMUM WAGE. If it’s not the President’s business, who should set the base of minimum pay? Mississippi? Puerto Rico? Businesses? it’ll be a race to the bottom and only people will suffer in the end.
If businesses cant adjust, then a market takes over.
I really do not know about very many rural areas of South Dakota, but I can tell you living in Sioux Falls I see signs all over the place for positions that pay $15/hour. I know of very few places that start at $7.95/hour. However, there are jobs out there that are not even worth $7.95/hour but pay that anyway. If you are in high school making minimum wage, make yourself more valuable to your employer. If your employer wants to keep you, you will get more. If you are 30, of able body and mind and still making minimum wage, that is on you. If you are wait staff depending upon tips, watch out! If the price of a meal in a restaurant goes up because the restaurant has to pay more, expect smaller tips.
tipped income earners are not included in this.
This is one of those occasions where I believe it should be incumbent upon the states to determine the appropriate minimum livable wage for its residents. I get a $15 minimum wage, and perhaps higher, for places like California, where the cost of living is exorbitant for some residents. South Dakota isn’t quite so expensive. A one-size-fits-all approach doesn’t feel appropriate here.
“Minimum Wage” is probably the most harmful economic concept ever conceived.
And it is obvious that a number of the commenters here have no idea that today, in SD it is $9.45 per hour. What rock do these people live under?
$9.45*2080hrs= $19,656. Been a long time since I lived on that little amount of money. Just saying.
As it should be. The people making that amount are mostly new to the workforce. If you cannot make more than that, it is probably on you.
How much do many senior citizens live on?
I don’t know – how much have they saved? Did they have a pension? Military service? Investments?
Your hypotheticals are ludacris.
What hypothetical did I propose?
I’m pointing out that your one question is completely impossible to quantify because of, including, the different circumstances I’ve listed.
When you double something’s price, folks buy less of it.
…or the money used to pay for it goes down in value so the original price is about the same adjusted for inflation.