Government Tells Employers To Take Cuts for Minimum Wage Push
On Tuesday the CBO released a report on the economic impact increasing the minimum wage to $10.10 an hour would have.
Tuesday the White House and liberal talking heads applauded a bipartisan Congressional Budget Office report regarding what economic changes would take place if the United States raised the minimum wage from $7.25 an hour to $10.10 an hour.
The report shows that the increase would have a direct impact on 16.5 million workers who would get a raise but would also could cause half a million Americans to lose their jobs. On a White House blog post this afternoon, the administration pushed for the hike via two spokespeople, Jason Furman and Betsey Stevenson,
...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...
The White House did not reveal that only 1.6 million of the 16.5 million the increased minimum wage would impact are currently making minimum wage. They also did not address the potential negative impact that the increase would have on businesses across the country who are currently paying their employees over minimum wage but under the proposed $10.10 an hour. The White House pretty much told businesses to suck it up and expect to make less money for the greater good.
White House talking points said,
...businesses can adjust in other ways rather than reducing employment (for example, by accepting lower profit margins).
The cries on the left before the 2014 midterms have been all about eliminating "income inequality" from America and arguing for an increase in the minimum wage. Democrats nationwide have tried to distance themselves from Obamacare and the negative affects it has had on their constituents. Some have even run ads against the President's signature legislationhttp://www.truthrevolt.org/news/government-tells-employers-take-cuts-minimum-wage-push