Skip to comments.U.S. CBO projects job losses with minimum wage increase (500,000 jobs lost)
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 ...
Win/win for the welfare state.
So, given their “miss” on job loss for Obamacare, what will be the adjusted number? (Looking for someone with math skills).
Inflation, what a wonderful concept they seem to have stumbled across...
But they would just be “liberated” to pursue other interests.
Will the Propaganda machine cover this on the Evening News or the Sunday Morning Talk Shows this weekend?
Do Bears crap in a toilet?
500,000 is acceptable collateral damage on the road to serfdom.
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.”
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.
Before everybody is happy with this projection and feeling vindicated, what’s the justification for the prediction?
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.
Free at last
free at last
thank Obama I’m free from ‘job lock’ at last!
No, no, no...green shoots. Hope ‘n change. Forward.
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”?
You’re not expecting Reuters to include the supporting data, are you? :)
So they mean a million
It’s Obama Money! Recall the lady in Detroit claiming Obama has a stash?
LOL, I totally forgot about his stash!
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?