The min wage is a subsidy.
One Percenter's screen name refers to his brain capacity. And that's an overestimate.
Kind of. In financial terms a subsidy is any financial aid direct or in-direct given by the government.
WHich the min wage is. It subsidizes people by giving them higher wages than the market would dictate. Of course it screws others by giving them no wage, which is below their marketable wage.
More lies from the idiot Rabbi.
USA Today - Study: States that raised minimum wage had stronger job growth
"A recent study by the Center for Economic and Policy Research attempts to undercut the argument that raising the minimum wage kills jobs.
The study, which updates a Goldman Sachs analysis to include data from April and May, shows that the 13 states that increased their minimum wages on Jan. 1 have had stronger employment growth than the 37 states that didnt. The study compared average employment during the first five months of 2014 with the last five months of 2013.
...low-wage workers tend to spend nearly all their extra cash, lifting the local economy and creating more jobs."
The higher minimum wage gets all those workers off the government dole. By spending their money they create more jobs. This also gets people off the government dole. The reduced government dependance reduces need for government workers. All of these reductions in government deficit spending lowers inflation.
Obama is mopping the floor with both Bush's. They could only dream of having Obama's increased employment rates. For 5 years now Household Income, Hires & Quits rates have been rising while the Unemployment & U-6 rates have been falling.
Employment is rising at increasing velocity. First 6 months of 2014 average 231k jobs added per month, last year the average was 194K jobs added per month.
The last time over 200,000 new jobs were created 6 months in a row was in 1999 when Bill Clinton was president!
Bush took the employment rate of working age population from 74% down to 65%.
Bush destroyed 18 million jobs.
Obama took the employment rate of working age population from 65% up to 69%.
Obama restored or created 8 million jobs.
Employment Rate of Working Age Population