RATS aren't smart enough to understand the business model of a lemonade stand...
Posted on 06/26/2017 3:28:55 PM PDT by Hadean
Seattle's first-in-the-nation $15 per hour minimum wage law is hurting the workers it aimed to help, a new study has found.
The working poor are making more per hour but taking home less pay. The University of Washington paper asserts the new wages boosted worker pay by 3 percent, but also resulted in a 9-percent reduction in hours and a $125 cut to the monthly paychecks.
The law also cost the city 5,000 jobs, the report said.
Seattle's minimum wage ordinance, passed by the Seattle City Council and signed by Mayor Ed Murray in 2014, was sold as a way to close the income inequality gap and help those struggling at the bottom of the economic ladder. More than a dozen cities and counties, mostly in California and New York, followed suit.
"This is a two-edged sword," said Jacob Vigdor, one of the team of researchers studying the issues for Seattle. "And if you raise this minimum wage the way Seattle did you run the risk of actually taking money away from the people you are trying to help."
The study was published as a "working paper" on Monday by the National Bureau of Economic Research.
(Excerpt) Read more at foxnews.com ...
Yeah, but liberals feel good about getting it passed, and that’s all that matters.
Sounds like the Law is working Great, just as intended. All those income affected folks now suffering under lost hours or lost jobs can now go down to their Democrat Welfare headquarters and sign up for all the free stuff, that will force them to vote for the demonrats in perpetuity just for the free chit.
The local left-wing politicians will just say it’s all lies, the voters will agree, and everyone moves on.
The people who want low-level work will drive to the suburbs, adding to traffic congestion. More Seattle worker’s paradise.
Yeah, and fill out their voter-registration papers while they're at it. Win-win!
Newsflash: Liberals stunned to learn that money does not grow on trees.
Now their push for green everything makes money!
Bless their hearts.
Oh, gee. Who could’ve guessed?
Maybe if these feel-good liberals would escape from their echo chambers long enough to give another point of view a second of consideration, we wouldn’t have to “learn” these simple truths over and over!
RATS aren't smart enough to understand the business model of a lemonade stand...
Moreover, the problem with our widening wage gap has a lot more to do with the Fed (a dollar is no longer a dollar), our ridiculous trade policies, and illegal immigration, than “greedy” employers who cannot afford to pay $15 for entry-level jobs. So...bravo Seattle. Show us how not to do it.
Excellent analysis of the true intent of the law.
In addition, it will increase income disparity, which will lead to higher taxes on the “rich”.
Put it in terms they can understand:
High minimum wage = fewer jobs
No job = no money for weed
We and a lot of other people warned them.
Sounds like the Seattle city council never heard of a thing called "economics".
Their wages went up 30-45% yet my friends in Seattle tell me of employees who want their work hours reduced. Why? Because if they worked a full 8 hours, they would make too much money to qualify for Gov’t benefits.
For the employees it’s a great deal. They make the same amount for less hours and still get their Gov’t handouts.
BRILLIANT!!!!
“Don’t those ingrates understand that we proved our moral superiority by depriving them of jobs?”
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