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Tuesday, February 18, 2014

Minimum Wage Hike Would Kill A Half-Million Jobs: CBO

Raising the minimum wage to $10.10 will cut about a half-million jobs out of the economy by 2016, according to a new Congressional Budget Office report Tuesday that could deal a major blow to Democrats’ chief domestic agenda item this year.

A majority of low-wage workers would see their pay rise thanks to the increase and would be substantially better off, including many who would be lifted above the poverty line. But a minority would also lose jobs as businesses choose to invest elsewhere, the CBO said in its analysis of a proposal very similar to the one congressional Democrats have offered.

“Once fully implemented in the second half of 2016, the $10.10 option would reduce total employment by about 500,000 workers, or 0.3 percent,” the nonpartisan scorekeepers said, adding that there is substantial uncertainty and the loss could be anywhere from “very slight” to as much as 1 million jobs.

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4 comments:

Anonymous said...

thats what they want, for people to lose their jobs so they can make you slaves of the state...

you all will see soon enough...

Anonymous said...

Sounds like Barry's plan for the economic destruction of America is right on track.

Anonymous said...

Thats not too bad by our Dictators in Chiefs standards

Anonymous said...

Can't they use the pic of a hot chick... why do we always have to see dingy reid, pelosi, frankenstein, etc. Let's get some eye candy on these stories!