This, too, will pump a lot of money into the economy.
Posted on 02/10/2016 6:09:31 PM PST by BenLurkin
Raising the minimum wage to $15 an hour would benefit 927,400 city workers and pump $6.5 billion into the city's economy, according to state Labor Department report released Wednesday.
The report predicted that Gov. Cuomo’s proposal for a $15 minimum wage would boost wages for 2.3 million workers across the state and generate $15.7 billion for New York's economy through increased consumer spending.
...
Release of the report came a day after state Senate Majority Leader John Flanagan (R-Suffolk County), who has expressed reservations about Cuomo's plan, said Senate Republicans needed more information about the proposal's impact.
A report produced late last year by the Empire Center for Public Policy and the American Action Forum said raising the minimum wage to $15 an hour would cost the state at least 200,000 jobs.
(Excerpt) Read more at nydailynews.com ...
LMAO Yeah, and Bernie’s proposals would increase income by $22k
Frauds should be put in jail
This, too, will pump a lot of money into the economy.
Negative impact on the labor market by increasing the minimum wage? Of course we did not consider that for this report! Such a preposterous idea!
Good idea NYC lead the way. Soon you will be San Francisco East.
OMG this is definitely Democrat groupthink. Democrats should be as rare as they are right.
Marxist foolishness.
Let the economy manage itself. Government economic arrangements only lead to Soviet-style failure.
Higher wage= less workers. How much payroll taxes do the unemployed pay? None. Bunch of doofi. (doofi is the correct plural for “doofus”)
CC
I’m still trying to understand out how they figure that by taking money from the consumers who will pay more money for services and products, and funneling that money to the minimum wage workers to spend, somehow “creates” $ 6.5 billion.
It makes no sense to me.
Heck, then a $30/hour wage would be even more awesome. GO FOR IT NEW YORK!!!!!
This is reminiscent of Nancy Pelousey stating, without a trace of irony, that extending unemployment benefits will create wealth.
Exactly. That would create $13 billion, using Cuomo’s reasoning.
HEY LOOK. I just took 10 dollars from my front pocket, and put it in my back pocket. I now have TWENTY DOLLARS!!!
Liberal math is fun and profitable...
Economically illiterate idiots...
Tell that to Seattle.
Yes, and all of the previous raises in minimum wage lifted everyone out of poverty. I’m sure it will put a chicken in every pot.
Gosh, why not make it $100 per hour?
“OK, Big Mac and fries and a Strawberry shake. That will be $32.50 Please.”
“Nuthin from nuthin leaves nuthin...”
The loss of 5 million jobs as companies leave will then be a problem
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