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U.S. CBO projects job losses with minimum wage increase (500,000 jobs lost)
Reuters ^ | 2/18/2014

Posted on 02/18/2014 11:29:18 AM PST by RoosterRedux

Raising the U.S. federal minimum wage to $10.10, as President Barack Obama and Democrats in Congress are proposing, could result in about 500,000 jobs being lost by late 2016, the Congressional Budget Office (CBO) estimated on Tuesday.

(Excerpt) Read more at reuters.com ...


TOPICS: Business/Economy; News/Current Events
KEYWORDS:

1 posted on 02/18/2014 11:29:18 AM PST by RoosterRedux
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To: RoosterRedux

Win/win for the welfare state.


2 posted on 02/18/2014 11:30:31 AM PST by 2ndDivisionVet (I will raise $2M for Sarah Palin's next run, what will you do?)
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To: RoosterRedux

So, given their “miss” on job loss for Obamacare, what will be the adjusted number? (Looking for someone with math skills).


3 posted on 02/18/2014 11:30:44 AM PST by 1rudeboy
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To: RoosterRedux
Unexpected
4 posted on 02/18/2014 11:32:24 AM PST by tomkat
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To: RoosterRedux

Inflation, what a wonderful concept they seem to have stumbled across...


5 posted on 02/18/2014 11:34:30 AM PST by Abathar (Proudly posting without reading the article carefully since 2004)
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To: RoosterRedux

But they would just be “liberated” to pursue other interests.


6 posted on 02/18/2014 11:34:57 AM PST by rightwingintelligentsia (Democrats: The perfect party for the helpless and stupid, and those who would rule over them.)
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To: RoosterRedux

Will the Propaganda machine cover this on the Evening News or the Sunday Morning Talk Shows this weekend?

Do Bears crap in a toilet?


7 posted on 02/18/2014 11:35:20 AM PST by The South Texan (The Drive By Media is America's worst enemy and American people don't know it.)
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To: RoosterRedux

500,000 is acceptable collateral damage on the road to serfdom.


8 posted on 02/18/2014 11:36:47 AM PST by fwdude ( You cannot compromise with that which you must defeat.)
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To: fwdude

The thing is, they know most of the 500K will STILL vote for them even after they lose their jobs because some useful MSM idiot will announce “It was the evil Republicans that cost you your job.”


9 posted on 02/18/2014 11:40:45 AM PST by Abathar (Proudly posting without reading the article carefully since 2004)
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To: RoosterRedux; All

The CBO also needs to note the following about the so-called national minimum wage. With the exception of the federal entities indicated in the Constitution’s Clauses 16 & 17 of Section 8 of Article I, entities which Congress has exclusive legislative control over, the states have never delegated to Congress, via the Constitution, the specific power to regulate a national minimum wage. Corrupt Congress has been exploiting this misconception for many decades, undoubtedly to win votes from low-information citizens.


10 posted on 02/18/2014 11:41:20 AM PST by Amendment10
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Before everybody is happy with this projection and feeling vindicated, what’s the justification for the prediction?


11 posted on 02/18/2014 11:46:41 AM PST by AlmaKing
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This article is a ridiculous blurb of 2 paragraphs with no substantive info.

The Left will laugh at this.

We need substantive data to back up these arguments and assertions.

I would be satisfied if I saw a chart of job losses correlating with the previous increases in the minimum wage.

I’ve watched arguments for and against min wage, in particular Milton Friedman’s arguments with which I agree.

But, this is silly to cheer and say ‘aha!’ when the article is junk.


12 posted on 02/18/2014 11:49:52 AM PST by AlmaKing
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To: rightwingintelligentsia

Free at last
free at last

thank Obama I’m free from ‘job lock’ at last!


13 posted on 02/18/2014 11:49:58 AM PST by TurboZamboni (Marx smelled bad and lived with his parents .)
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To: RoosterRedux

No, no, no...green shoots. Hope ‘n change. Forward.


14 posted on 02/18/2014 11:51:25 AM PST by SoFloFreeper
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To: RoosterRedux

Where do liberals think this extra money comes from? Do they picture fat cat employers sitting back with a scotch in one hand, cigar in the other saying “darn, the federal government figured us out - we’ll have to take less of an obscene profit”?


15 posted on 02/18/2014 11:57:05 AM PST by andyk (I have sworn...eternal hostility against every form of tyranny over the mind of man.)
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To: AlmaKing

You’re not expecting Reuters to include the supporting data, are you? :)


16 posted on 02/18/2014 11:57:59 AM PST by andyk (I have sworn...eternal hostility against every form of tyranny over the mind of man.)
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To: RoosterRedux

So they mean a million


17 posted on 02/18/2014 11:59:20 AM PST by AppyPappy (Obama: What did I not know and when did I not know it?)
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To: andyk

It’s Obama Money! Recall the lady in Detroit claiming Obama has a stash?


18 posted on 02/18/2014 12:01:00 PM PST by The South Texan (The Drive By Media is America's worst enemy and American people don't know it.)
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To: The South Texan

LOL, I totally forgot about his stash!


19 posted on 02/18/2014 12:02:11 PM PST by andyk (I have sworn...eternal hostility against every form of tyranny over the mind of man.)
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To: RoosterRedux

If you’ve got $9/hr qualifications and the gov’t says no one can be paid less than $10/hr, well then, they’ve made it illegal for you to work. How does that help?


20 posted on 02/18/2014 12:06:17 PM PST by Paine in the Neck (Our Lives, our Fortunes, and our sacred Honor)
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To: RoosterRedux
"I'm Told That I'm Worth More Than Minimum Wage!"


21 posted on 02/18/2014 12:06:41 PM PST by TexasCajun
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To: TexasCajun

“”I’m Told That I’m Worth More Than Minimum Wage!””

I am not a fan of Rachel Maddow. But in this picture she looks the most feminine I ever seen her.


22 posted on 02/18/2014 12:11:47 PM PST by EQAndyBuzz (Insurgent Conservative)
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To: RoosterRedux

Lead stor on tonight’s Nightly Noose.


23 posted on 02/18/2014 12:19:57 PM PST by Eric in the Ozarks ("Say Not the Struggle Naught Availeth.")
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To: andyk

That’s exactly what they think.


24 posted on 02/18/2014 12:33:59 PM PST by RoosterRedux (The only true wisdom is in knowing you know nothing -- Socrates)
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To: andyk

That’s exactly what the liberals think. They think businesses earn obscene profits and shortchange their workers. They think businessmen are all like Scrooge and all workers are like Bob Crachit (SP?), and that tiny Tim is hungry because Scrooge won’t pay his dad a living wage.


25 posted on 02/18/2014 12:35:15 PM PST by Dilbert San Diego (TH)
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To: TexasCajun

Pajama Boy has a certain liberal look about him. Can’t quite put my finger on it though.....................


26 posted on 02/18/2014 12:36:10 PM PST by Dilbert San Diego (TH)
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To: Dilbert San Diego

Pajama Boy has a certain liberal look about him. Can’t quite put my finger on it though.....................

Arched eyebrows


27 posted on 02/18/2014 1:00:31 PM PST by stars & stripes forever (Blessed is the nation whose God is the Lord.)
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To: RoosterRedux

Hey, I thought increasing the minimum wage was supposed to increase employment and raise profits for business owners!


28 posted on 02/18/2014 1:20:00 PM PST by Right Wing Assault
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To: AlmaKing
The Left will laugh at this. We need substantive data to back up these arguments and assertions.

Of course. Conservatives are always having to provide irrefutable, iron clad, scientific evidence, to advance any line of thought, while libs can pull anything out of their butts they like.

I'm sick of the double standard.

29 posted on 02/18/2014 1:59:56 PM PST by Windflier (To anger a conservative, tell him a lie. To anger a liberal, tell him the truth.)
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To: Dilbert San Diego
That’s exactly what the liberals think. They think businesses earn obscene profits and shortchange their workers. They think businessmen are all like Scrooge

Yet you curiously never hear any of them saying a bad word about George Soros, or any number of other left wing fat cats.

30 posted on 02/18/2014 2:05:19 PM PST by Windflier (To anger a conservative, tell him a lie. To anger a liberal, tell him the truth.)
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To: AlmaKing

Cbo is alwways waaay off


31 posted on 02/18/2014 4:17:55 PM PST by genghis
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To: EQAndyBuzz

ROFLMAO!


32 posted on 02/18/2014 6:49:46 PM PST by depressed in 06 (America conceived in liberty, dies in slavery.)
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