Posted on 07/10/2015 3:28:42 PM PDT by Oldeconomybuyer
Citing significant new costs to the state and a negative effect on businesses, the Brown administration’s Finance Department is opposing a bill that would raise California's $9 minimum wage to $11 an hour on Jan. 1 and boost it again to $13 in 2017.
“The Department of Finance is opposed to this bill because it results in significant, unbudgeted costs to the General Fund,” the report says. “Further, Finance notes the net impact of an increased minimum wage on California’s economy and state budget is likely to be negative.”
“For the economy, losses from higher production costs to businesses would be partially offset by the consumption boost from wealthier minimum wage workers, but would overall lead to slower employment growth,” the report said.
(Excerpt) Read more at latimes.com ...
Oh yeah we can screw free enterprise but not the gvmnt.
Liberals forget that.
/johnny
Why is it liberals/progressives/marxists never understand that no part of the economy is static. Wages rise,and so do products bought by those with more money to spend. Because increased wages increase the costs of the company producing a product or providing a service. That is the way of the world but somehow that logic is always ignored by those advocating a living wage.
So when are the OWS, progressives types going to storm the governor mansion...?
If Brown was a pubbie, they would be calling for his head...
Only the blood bags (tax payers and private businesses) we feed off of should pay. Never your masters in government. They’re too special.
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