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WH; employers must accept less profit for minimum wage hike
Quote:The White House lauded a Congressional Budget Office report on the proposed minimum wage hike to $10.10 per hour while brushing off one key finding: that such a bill could cost half a million jobs, and maybe more.

“The new Congressional Budget Office (CBO) report finds that 16.5 million workers would get a raise from increasing the minimum wage to $10.10 per hour and this would help millions of hard-working families, reduce poverty, and increase the overall wages going to lower-income households,” Jason Furman, chairman of the Council of Economic Advisers, and Betsey Stevenson, Council of Economic Advisers member, wrote in a White House blog post this afternoon.

“Opponents claim raising the minimum wage won’t reduce poverty, but that is not the case, as many American who work full time are unable to make ends meet.

This finding echoes the broad consensus of academic studies on the topic, which is nearly unanimous in finding that increases in the minimum wage reduce poverty,” Furman and Stevenson wrote for the White House

In addition, businesses can adjust in other ways rather than reducing employment (for example, by accepting lower profit margins).

CBO’s estimates do not appear to fully reflect the increased emphasis on all of these factors from the recent economics literature.”
It's the "BILL OF RIGHTS" not the bill of "needs"
And the WH will keep pushing until they accept no profit....

How can anyone argue we don't have communists in the WH?

Blind people have extraordinary other senses......peeples with head up butt, hear no evil, see no evil, know no evil.
"In 4 more OMao years you won't like how America looks....I guarantee it."
“When injustice becomes law, resistance becomes duty.” -- Thomas Jefferson
Who is john galt?
One only needs to look at the successor to obomba's good friend hugo chavez and what is happening in Venezuela .

first he authorized the looting of appliance stores

now many businesses have left or closed up to prevent the same fate.

there are violent riots in the streets because the people cant even get a roll of toilet paper now

and our media is silent on the whole affair
It's the "BILL OF RIGHTS" not the bill of "needs"
No, the media is complicit in the affair.

CBO estimate 500,000-1,000,000 jobs lost over the next two years due to the federal increase.

Anyone who thinks the Resident at 1600 PA ave is just foolish is either brain damaged or fooling themselves.

As Charles Krauthammer correctly surmised, this is nothing but wealth redistribution from the lower middle class to the bottom class. This is nothing more than an attempt at purchasing votes for the next election cycle... Just like everything else this administration has done.

Let me just say that if Mike Rowe was a dental hygienist, obama's next dentist visit would be featured on "Dirty Jobs".

"I'll have those niggers voting Democrat for the next 200 years" ~Lyndon Johnson DEMOCRAT. You see this? THIS IS ALL THEY CARE ABOUT! Buying votes to secure power. Everything else is a distraction: wars, disasters, taxes, you name it.

And yes, the RINOS are no better.
tolerance for failure meter... LOW

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