Author Topic: White House: Employers Can Prevent Job Losses After Minimum Wage Hike By Making Less Money, “Accepting Lower Profit Margins”…  (Read 375 times)

0 Members and 1 Guest are viewing this topic.

Offline happyg

  • Hero Member
  • ****
  • Posts: 11,822
Odds the person who wrote this for the Obama administration ever worked in the real world is somewhere between slim and none.

Via PJM:
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. [...]

“Overall the logic for the finding that raising the minimum wage does not result in large adverse impacts on employment is that paying workers a better wage can improve productivity and thereby reduce unit labor costs. These adjustments, along with others that firms can make, help explain why the increase in the minimum wage need not lead to a reduction in employment. Higher wages lead to lower turnover, reducing the amount employers must spend recruiting and training new employees. Paying workers more can also improve motivation, morale, focus, and health, all of which can make workers more productive. In addition, by reducing absenteeism, higher wages can increase the productivity of coworkers who depend on each other or work in teams. 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.”

Keep reading…
http://weaselzippers.us/174879-white-house-employers-can-prevent-job-losses-after-minimum-wage-hike-by-making-less-money-accepting-lower-profit-margins/

Offline Oceander

  • Technical
  • Hero Member
  • ****
  • Posts: 44,056
  • #ToldYouSo
First rate quack.

Here's the basic problem with the thesis:  in every business where the thesis holds, it's already been implemented, and in every business where it hasn't been implemented, it won't because it doesn't make economic sense.

Only a stupid effing idiot - or a liberal/democrat - would think otherwise.

Offline Once-Ler

  • Hero Member
  • ****
  • Posts: 7,157
  • How I Learned to Stop Worrying and Love the Trump
First rate quack.

Here's the basic problem with the thesis:  in every business where the thesis holds, it's already been implemented, and in every business where it hasn't been implemented, it won't because it doesn't make economic sense.

Only a stupid effing idiot - or a liberal/democrat - would think otherwise.

rats believe the purpose of business is not profit but to create jobs.
You may not see the Wall, but it's there.
It's been in your heart all this time.

Offline Oceander

  • Technical
  • Hero Member
  • ****
  • Posts: 44,056
  • #ToldYouSo
rats believe the purpose of business is not profit but to create jobs.

true enough.

Offline rangerrebew

  • America defending Veteran
  • TBR Contributor
  • Hero Member
  • *****
  • Posts: 61,280
  • “It’s easier to fool people than to convince them
true enough.

I don't think so.  If his job is to create jobs, by that standard he is a miserable failure.  His REAL  job is to destroy jobs and divide employers from the employees because, as Lincoln noted, a house divided against itself cannot long stand.
« Last Edit: February 19, 2014, 08:42:57 AM by rangerrebew »
Abraham Lincoln:

There is no grievance that is a fit object of redress by mob law.
--January 27, 1838 Lyceum Address

Don't interfere with anything in the Constitution. That must be maintained, for it is the only safeguard of our liberties. And not to Democrats alone do I make this appeal, but to all who love these
great and true principles.
--August 27, 1856 Speech at Kalamazoo, Michigan

Let us then turn this government back into the channel in which the framers of the Constitution originally placed it.
--July 10, 1858 Speech at Chicago

Online mountaineer

  • Member
  • Hero Member
  • ****
  • Posts: 34,592
Because no one in this administration ever held a real-world job, how would they know that the "profit margin" in the food service industry, for example (where a lot of minimum wage jobs may be found), already is pretty darn slim?
Just being unique doesn't make you useful.

Offline Relic

  • Hero Member
  • ****
  • Posts: 4,967
I don't think so.  If his job is to create jobs, by that standard he is a miserable failure.  His REAL  job is to destroy jobs and divide employers from the employees because, as Lincoln noted, a house divided against itself cannot long stand.

I agree. I watched a local morning news program this morning. They had a view comment segment regarding minimum wage. Even Clevelanders seem to understand the negative aspects of raising the minimum wage. A couple small business owners commented, one said he'd close, the other said he'd downsize.

There is no way the Obama administration, or Obama himself, is this clueless. This is a statement for public consumption to rally the LIVs while covering the real agenda.

Offline raml

  • Hero Member
  • ****
  • Posts: 2,312
Only very very low information voters would believe it is that simple. The scary fact though is this country is made up of many many very very low information voters. Businesses need to make a decent profit or why would any business owner stay in business.

Offline Gazoo

  • Inactive Members
  • Hero Member
  • ****
  • Posts: 3,968
Quote
White House: Employers Can Prevent Job Losses After Minimum Wage Hike By Making Less Money, “Accepting Lower Profit Margins”…

 :silly: 8888crybaby **nononono*

You really can't make this crap (Hey TS I said crap :) ) up!

Are we living in a twilight zone. There are idiots running the asylum.
"The Tea Party has a right to feel cheated.

When does the Republican Party, put in the majority by the Tea Party, plan to honor its commitment to halt the growth of the Federal monolith and bring the budget back into balance"?


Share me

Digg  Facebook  SlashDot  Delicious  Technorati  Twitter  Google  Yahoo
Smf