Minimum wage increase would free people from work

[CaféAuLait]

Minimum Wage Hike Could Cost 500K Jobs, CBO Reports

According to CBO, increasing the minimum wage would have two chief effects on low-wage workers: First, about 16.5 million workers would receive higher pay that would increase their family’s income, and about 900,000 of those families could earn a big enough increase to eclipse the federal poverty threshold.

But CBO also forecasts some negative consequences from the proposed increase. Some jobs for low-wage workers would probably be eliminated, the report finds, and the income of most workers who lose jobs would fall substantially while the share of low-wage workers who were employed would also probably decrease.

CBO projects that if the president’s proposal to increase the minimum wage to $10.10 was fully implemented by the second half of 2016, it would reduce total employment by about 500,000 workers, or 0.3 percent.

Minimum Wage Hike Could Cost 500K Jobs, CBO Reports - ABC News

So what happens to those without a job? How do we support those families the CBO labels as poor and those that will not have a job as the low wage jobs will disappear? It's great the move will help 960,000 families, but hurting more than half that and future jobs is not good.

 

[O.R.I.O.N]

Blame the companies. They bitch when they are forced to make sure their employees have health insurance,they bitch when they are forced to give them livable wages,they will bitch and moan no matter what. Need to this shit Venezuela style and crack down on them...government needs to crack down on these companies that would rather line the pockets of their CEO's with million dollar bonsuses than give each worker a small raise to help their lives be better...man I fucking hate capitalism and its idiotic supporters.Obama and for that matter ANY president needs to crack down on this shit. If you can afford to pass out million dollar bonuses you damn sure can afford a few more dollars an hour...especially if its some shithole like walmart that has 6 members of that family worth more than 40% of society in this country.

 

[Quantum Windbag]

Did I say that right? I don't want to be accused of racism by saying that Obama wants to fire a bunch of poor people who barely scrape by.

Once fully implemented in the second half of 2016, the $10.10 option would reduce total employment by about 500,000 workers, or 0.3 percent, CBO projects (see the table below). As with any such estimates, however, the actual losses could be smaller or larger; in CBO’s assessment, there is about a two-thirds chance that the effect would be in the range between a very slight reduction in employment and a reduction in employment of 1.0 million workers…
The increased earnings for low-wage workers resulting from the higher minimum wage would total $31 billion, by CBO’s estimate. However, those earnings would not go only to low-income families, because many low-wage workers are not members of low-income families. Just 19 percent of the $31 billion would accrue to families with earnings below the poverty threshold, whereas 29 percent would accrue to families earning more than three times the poverty threshold, CBO estimates.
Moreover, the increased earnings for some workers would be accompanied by reductions in real (inflation-adjusted) income for the people who became jobless because of the minimum-wage increase, for business owners, and for consumers facing higher prices.
​

CBO | The Effects of a Minimum-Wage Increase on Employment and Family Income

On the plus side, it would also increase the deficit.

 

[francoHFW]

The CBO absolutely suqs at predictions, no imagination at all. The country needs DEMAND, some money in customers' hands, so feq em...

 

[tyroneweaver]

everything obama touches turns to @@@@ Everything and I mean everything everything this guy touches cost jobs
I see where the tax on prothestic devices cost 30000 jobs.
America is never going to recover from what this pos did to this country.

and when it's all said and done there still will be 30 million people without health insurance.

 

[Quantum Windbag]

The CBO absolutely suqs at predictions, no imagination at all. The country needs DEMAND, some money in customers' hands, so feq em...

That isn't what you said when they predicted that the stimulus would work.

 

[Quantum Windbag]

I should have posted faster.

 

[Avatar4321]

well minimum wage was created by Progressives to price the "undesirables" of the work force. Just like abortion was pushed by progressives to eliminate inferior groups of people.

They are messed up aren't they?

 

[Bombur]

Ask for $10 and get $9.

The only real problem with the min wage hike is that employment is weak now and it isn't a good time to produce the shock. The US won't always have 500,000 fewer jobs than it would without the increase.

 

[Mr. H.]

...and the beat goes on.

 

[Remodeling Maidiac]

Blame the companies. They bitch when they are forced to make sure their employees have health insurance,they bitch when they are forced to give them livable wages,they will bitch and moan no matter what. Need to this shit Venezuela style and crack down on them...government needs to crack down on these companies that would rather line the pockets of their CEO's with million dollar bonsuses than give each worker a small raise to help their lives be better...man I fucking hate capitalism and its idiotic supporters.Obama and for that matter ANY president needs to crack down on this shit. If you can afford to pass out million dollar bonuses you damn sure can afford a few more dollars an hour...especially if its some shithole like walmart that has 6 members of that family worth more than 40% of society in this country.

This thread isn't about "companies" jackass. It's anout the federal government costing us jobs.

Go play in the street moron

 

[Mr. H.]

As someone posited in another thread... why stop at $10.10?

Make it $100/hour.

 

[O.R.I.O.N]

Blame the companies. They bitch when they are forced to make sure their employees have health insurance,they bitch when they are forced to give them livable wages,they will bitch and moan no matter what. Need to this shit Venezuela style and crack down on them...government needs to crack down on these companies that would rather line the pockets of their CEO's with million dollar bonsuses than give each worker a small raise to help their lives be better...man I fucking hate capitalism and its idiotic supporters.Obama and for that matter ANY president needs to crack down on this shit. If you can afford to pass out million dollar bonuses you damn sure can afford a few more dollars an hour...especially if its some shithole like walmart that has 6 members of that family worth more than 40% of society in this country.

This thread isn't about "companies" jackass. It's anout the federal government costing us jobs.

Go play in the street moron

Because it isn't the government costing jobs its the companies throwing fits when they can pay million dollar bonuses but complain they can't afford 1$ extra an hour...its bullshit and its got plenty of suckers like you to believe it.

 

[Avatar4321]

One has to wonder how many times we need to increase the minimum wage and get negative results before we realize that's not the way to fix our economy.

 

[Remodeling Maidiac]

Blame the companies. They bitch when they are forced to make sure their employees have health insurance,they bitch when they are forced to give them livable wages,they will bitch and moan no matter what. Need to this shit Venezuela style and crack down on them...government needs to crack down on these companies that would rather line the pockets of their CEO's with million dollar bonsuses than give each worker a small raise to help their lives be better...man I fucking hate capitalism and its idiotic supporters.Obama and for that matter ANY president needs to crack down on this shit. If you can afford to pass out million dollar bonuses you damn sure can afford a few more dollars an hour...especially if its some shithole like walmart that has 6 members of that family worth more than 40% of society in this country.

This thread isn't about "companies" jackass. It's anout the federal government costing us jobs.

Go play in the street moron

Because it isn't the government costing jobs its the companies throwing fits when they can pay million dollar bonuses but complain they can't afford 1$ extra an hour...its bullshit and its got plenty of suckers like you to believe it.

The ill informed are so stupid.

This wage increase only affects government jobs idiot. Private industry has nothing to do with this fiasco

 

[O.R.I.O.N]

Snivel...2 more CONservatives can't beat my argument so they neg rep...yawn...same old shit...different retards.

 

[Quantum Windbag]

Blame the companies. They bitch when they are forced to make sure their employees have health insurance,they bitch when they are forced to give them livable wages,they will bitch and moan no matter what. Need to this shit Venezuela style and crack down on them...government needs to crack down on these companies that would rather line the pockets of their CEO's with million dollar bonsuses than give each worker a small raise to help their lives be better...man I fucking hate capitalism and its idiotic supporters.Obama and for that matter ANY president needs to crack down on this shit. If you can afford to pass out million dollar bonuses you damn sure can afford a few more dollars an hour...especially if its some shithole like walmart that has 6 members of that family worth more than 40% of society in this country.

Venezuela style?

 

[Plasmaball]

i love this idea that people cant afford 10.10 an hour and will have to cut jobs due to it.
Yeah..Im not really going to buy this bullshit when i watch my own owner get a massive bonus at the end of the year, but take over a month to give out a 50 cent raise.

Uh huh....people can officially blow me.

 

[O.R.I.O.N]

The government there has lost control unfortunately. He allowed his opposition to have to much free power and they used it to start a coup against him blaming him for the countries problems when once the poor allow the conservatives back into power they will be back in the slums poorer than ever.

 

[Bombur]

The CBO absolutely suqs at predictions, no imagination at all. The country needs DEMAND, some money in customers' hands, so feq em...

The CBO has to make predictions whether they have good data or not. That is the nature of their job and they generally try and communicate how they are making their prediction and the potential for error in their prediction.

Their predictions are often politicized and therefor attacked but their estimates are reasonable. It is a very difficult thing to try and predict btw.