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Congressional Budget Office: Wage hike would lift pay but cost jobs
www.FoxNews.com ^
| February 18, 2014
Posted on 02/22/2014 3:48:22 AM PST by Yosemitest
A plan by President Obama and fellow Democrats to increase the minimum wage to $10.10 an hour would cost roughly 500,000 jobs
but increase wages for roughly 16.5 million Americans, the nonpartisan Congressional Budget Office said Tuesday.
The report was immediately met with sharp Republican criticism for the wake hike plan.
While helping some, mandating higher wages has real costs, including fewer people working, said a spokesman for House Speaker John Boehner, R-Ohio.
With unemployment Americans' top concern, our focus should be creating -- not destroying -- jobs for those who need them most.
...Republicans argued the report puts authoritative weight behind their argumentthat such an increase would cut jobsbecause companies would have to spend more on wages.
"This report confirms what we've long known, Boehners office said.
The report was released as the Democrat-controlled Senate prepares to debate an Obama-backed proposal
to gradually increase the $7.25 hourly minimum wage to $10.10 by 2016.
However, the proposal faces long odds of passing in the GOP-controlled House.
... After 2016, Harkin's bill would require the minimum wage to be increased annually to reflect rising inflation.
...
(Excerpt) Read more at foxnews.com ...
TOPICS: Business/Economy; Constitution/Conservatism; Editorial; Government; US: Ohio
KEYWORDS: economy; jobs; johnboehner; maximumunemployed; minimumwage; obama; obamarecession; obamataxhikes; ohio; speakerofthehouse; unemployment; unenjoyment
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To: americanbychoice3
And as the new middle class, of course they'd enjoy paying the government more of their "new and worth-less money" because of their "new tax bracket".
21
posted on
02/22/2014 10:39:26 AM PST
by
Yosemitest
(It's Simple ! Fight, ... or Die !)
To: americanbychoice3
Very interesting analysis.
Here’s something else to consider. The increased min wage will no doubt lead to jobs lost, more part-time vs. full time and more jobs not being created to save on labor costs. Also more automation vs. employees when possible, and increased productivity from existing employees. If Increased min wage still manages to lower the bottom line, it will be made up in product-price-inflation, as a counter to government dictates on business.
Thanks for your take.
22
posted on
02/22/2014 7:11:29 PM PST
by
PGalt
To: Yosemitest
So true. Look at what the liberal and their progressive pals have done to our nation’s military. They have forced those who engage in acts of abomination to the Lord and God on our military. I ask all how can a man be a chaplain in this military knowing that these abominations take place? This nation was founded by men and women who sought religious freedom from the Church of England, others churches, plus even Catholics had an entire state to begin with. This nation prospered as people believed in the protestant/puritan work ethic. Now, just as Jesus lost so many followers after feeding the thousands because they wanted more and more, and; then he was worried if he’d even keep the 12.The left has all but banned crosses and signs of our real American religions. It is high time we all fight the good fight and we must rebuke these abominations. Jesus was not nice to the Rabbi’s in the temple with their false teachings/rules. Jude v. 3 Paul was clear to Timothy. In Timothy 6:11 he said -”fight the good fight.”v.12 tells him to GUARD.
23
posted on
02/23/2014 10:51:39 AM PST
by
Lumper20
( clown in Chief has own Gov employees Gestapo)
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