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 ...
Wonder how much this dying rag pays their employees.
Where do they think this $6.5 billion comes from? Out of thin air? Who is going to pay $10-$15 for a McDonalds meal?
If $15/hr is good $150/hr would be ten times better. NY, you should raise minimum wages to $350/hr just to be safe.
>>That would create $13 billion, using Cuomo’s reasoning.<<
$100/hr gets us to 43 billion! Wow, this is a great idea! Every state and business should implement it immediately!!!
“Higher wage= less workers. How much payroll taxes do the unemployed pay? None.”
To be fair, those workers would have been low-wage workers anyway, so they would be takers themselves. The proper assessment is that they would now be taking MORE from the taxpayers.
HEY LOOK. I just took 10 dollars from my front pocket, and put it in my back pocket. I now have TWENTY DOLLARS!!!
= = =
Blondie would pull this on Dagwood.
She would get all his money, and he would end up owing her.
The employer has a say in how his business is run -and how many employees he can afford to employ at an overly generous minimum wage.. At least until the nazi socialists take over everything and destroy all remaining at will/non union jobs left.
That $6.5 billion has to come from somewhere other than wishful thinking. Where does it come from? Higher prices? Corporate profits if there are any? $15 dollar minimum wage might result in less bottom tier workers and more unemployment negating the rainbow, unicorn, hopey, changey, economic theories of the mathematically challenged left.
Ya think? see tagline
Well hell..! Lets raise it to $30 dollars an hour and we could do TWICE as much good..! /s
:)
“I’m sure it will put a chicken in every pot.”
________________________________________________
And some pot in every chicken.
And line the Union pockets with Cash.
Increasing the minimum wage would slow the economy, increase unemployment, encourage the purchase of automated systems instead of hiring people, and distort pricing and therefore investment decisions. The overall effect is negative.
This is satire right?
+1 for the bill withers reference
The economists involved in that report should be fired.
(D**n these people that know how numbers work! What are we gonna do with them?)
$15 minimum wage would create $6.5 billion hole in NYC economy, state report says (in fine print)Oh, those crazy NYDN journ0lists.
Maybe, but I’ll stick with ‘doofuses.’ Sounds more colloquial.
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