1,000,000/$10.10

Obama Fan Published:

There is about a two-thirds chance that the effect would be...a reduction in employment of 1.0 million workers.
Congressional Budget Office, "The Effects of a Minimum-Wage Increase on Employment and Family Income"

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  • Melton said that Obama Fan is probably drug related.

  • Too much Fox news!

  • It's pretty obvious that you dislike Obama to the point of embarrassing yourself with all of these twisted numbers. Go ahead and blame him for the birth of Hitler since all this other stuff is just absurd. Just my opinion of course.

  • So, what does that have to do with the price of tea in China?  What is "two-thirds chance" anyway...what kind of odds is that?  Where do you get this stuff?

    "

    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.

    On employment, CBO’s central estimate is that raising the minimum wage to $10.10 per hour would lead to a 0.3 percent decrease in employment and CBO acknowledges that the employment impact could be essentially zero. But even these estimates do not reflect the overall consensus view of economists which is that raising the minimum wage has little or no negative effect on employment.  For example, seven Nobel Prize winners and more than 600 other economists recently stated that: “In recent years there have been important developments in the academic literature on the effect of increases in the minimum wage on employment, with the weight of evidence now showing that increases in the minimum wage have had little or no negative effect on the employment of minimum-wage workers, even during times of weakness in the labor market.”