Anderson Cooper to Biden: CBO Study Says Raising the Minimum Wage Would Cost 1.4 Million People Their Jobs

RUSH EXCERPT:

COOPER: “The congressional budget office says a $15 minimum wage would lift 900,000 people out of poverty but cost 1.4 million people about their jobs.”

BIDEN: “If you read that whole thing about pinocchio, there are an equal number of studies that say it wouldn’t have that effect. And particularly in terms of how gradually you do it. Let’s say you said you’re going to increase the minimum wage from $7.25 an hour between now and the year 2025 to $12 an hour, to $13 an hour, you double someone’s pay and the impact on business would be absolutely de minimis, and it would grow the gdp, and it would generate economic growth.”