Higher vaccination rates reportedly aid in local economic recovery
The economy is currently growing at a faster rate as many are eager to get back to normal spending habits and making up for the time spent at home.
and last updated 2021-04-22 19:24:43-04
COLLEGE STATION, TX â As people have spent more time at home throughout the pandemic, the economy has taken quick a hit.
As more people become vaccinated, they are feeling more comfortable in getting out and more likely to spend money. In order for the economy to get back to the levels it was at before the pandemic, we must feel comfortable enough to go out and support the economy with our dollars.
Minimum wage hikes hurt young most | News, Sports, Jobs
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By Kristina Peterson, Richard Rubin and Eric Morath WASHINGTON Senate Democrats began preparing a backup plan Friday for raising the minimum wage at some large companies as part of their coronavirus relief package, after the chamber s parliamentarian ruled out including a broader increase. Backed by Senate Majority Leader Chuck Schumer (D., N.Y.), two committee chairmen are working on a new, more limited proposal that would use the tax system to prod employers to raise wages. The plan would impose tax penalties on large companies that aren t paying the higher wage Democrats seek and create tax incentives for small companies to do so. Democrats hope the chamber s parliamentarian would allow them to include the modified plan in the coronavirus relief package.
have proposed gradually increasing the federal minimum wage to $15 per hour by 2025, with the stated intention to raise the pay of low wage workers. Sounds like great news for the low‐paid, doesn’t it?
An old saying from economist Thomas Sowell is that “there are no solutions, only trade‐offs.” That is as true about the minimum wage as anything else. The Congressional Budget Office summarizes the mainstream economic consensus on the effects of the Democrats’ proposed aggressive major minimum wage hike fairly well and I don’t think the trade‐off is worth it.
Yes, for those workers affected who are lucky enough to maintain their jobs, hours, and existing perks, an enforced minimum wage hike through raising hourly wage rates will increase their overall compensation. The CBO estimates that 0.9 million people will be taken out of poverty as a result. But a consequence of raising the mandatory wage floor that aggressively, the CBO predicts, will be t