MINIMUM WAGE
There are about 39,000,000 workers that would benefit from a new minimum wage of $15.00 hour. The Government would be the big winner as this doubling of income would put these earners into the next Tax Bracket.
A current single, earns $7.25 an hour and pays about $1,000. In taxes. A single person making $15.00 an hour would pay about $3,000.in taxes or a $2,000. Increase of new revenue to the IRS.
Now do you see why politicians want to raise the minimum wage, $2,000. X 39,000,000 people = $78,000,000,000. (BILLION) Wind Fall to spend on whatever they want to.
It doesn’t bother them that 50% of the 39 million will lose their jobs, because businesses can’t afford to pay that much.