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Obama to use Executive Order to raise minimum wage to $10.10 across our nation

Anonymous
Posted by Anonymous
  • 87 Replies
So, do we still have to tip waitresses?






http://www.tpnn.com/2014/03/26/more-bad-news-for-obama-an-increased-minimum-wage-will-increase-the-deficit/


A new CBO report was recently released and Barack Obama is not going to like it. His regime took a blow when the CBO reported his proposed, and in some cases forced, minimum wage hike from the current federal level of $7.25 to $10.10 would cause a loss of jobs upwards of 1 million. Now, the CBO reports that this increase in minimum wage, which amounts to a 40% increase, will increase the deficit.
The Washington Free Beacon reports on this new finding by the CBO that also detailed the impact of such an increase on both private business and local, state, and federal governments.

Private employers will lose $15 billion through higher wages for workers and smaller tax breaks for reinvesting money into a company, a move the CBO said “mostly affects small- to medium-sized businesses.”

State, local, and federal governments will spend $1 billion more on higher wages and prices over the next ten years. Those cost increases are ten times higher than the thresholds set forth in the Unfunded Mandates Reform Act, which calls on government agencies to avoid deficit increases.

The nonpartisan office found that the Senate’s minimum wage bill would drive up prices the government must pay for goods and services, while also leading to lost tax revenue.

“It would affect the federal budget directly by increasing the wages that the federal government paid to a small number of hourly employees and indirectly by boosting the prices of some goods and services purchased by the government,” the report said. “Federal spending and taxes would also be indirectly affected by increases in income for some people and reductions in income for others.”

The CBO also said that this increase will cost the private sector $15 billion over ten years and increase the deficit by $5 billion over ten years. The Washington Free Beacon also reported that “the CBO said Obama’s gesture was largely symbolic since fewer than 4,000 workers are employed by the federal government at hourly rates below $10.10.”

With Obamacare, Barack Obama promised increased coverage, even for things that you may not want, for reduced cost. With the minimum wage, he is pushing for an increased cost without addressing the real economic impact. This is what happens when you have an elitist academic with no real world experience as president. Unless, this is all part of his fundamental transformation to ruin America. Either way, the American people overall lose.


Posted by Anonymous on Mar. 26, 2014 at 8:44 PM
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Replies (1-10):
Anonymous
by Anonymous 2 on Mar. 26, 2014 at 8:45 PM
Can't wait for this to crash and burn.
Anonymous
by Anonymous 1 - Original Poster on Mar. 26, 2014 at 8:46 PM
My post or Obama?

Quoting Anonymous: Can't wait for this to crash and burn.
Anonymous
by Anonymous 3 on Mar. 26, 2014 at 8:46 PM
He did not.
Texor
by Platinum Member on Mar. 26, 2014 at 8:47 PM
1 mom liked this

http://www.foxnews.com/politics/2014/03/26/ignored-by-congress-tipped-workers-turn-to-state-lawmakers-to-boost-their-base/ (and I even chose Fox News for those who don't trust anything else...)

He's not using an executive order.  He can't.  This is in Congress.

Anonymous
by Anonymous 4 on Mar. 26, 2014 at 8:47 PM
A lot make less than minimum wage
Anonymous
by Anonymous 5 on Mar. 26, 2014 at 8:47 PM

Thought that was determined to be illegal? That he must have congress to change something so drastically.

DixieL
by Ruby Member on Mar. 26, 2014 at 8:48 PM
2 moms liked this

I know I'll get bashed for liking President Obama, but I think it's great. To me it proves how much he loves this country and Americans. He is for the middle class, not just for the rich..

Anonymous
by Anonymous 1 - Original Poster on Mar. 26, 2014 at 8:49 PM
Who said he did? My says says he will. I looked up multiple sources and they claim by 2016. So, federally, it will keep going up annually until every state hits $10.10...

Quoting Anonymous: He did not.
SAHMJC
by Gold Member on Mar. 26, 2014 at 8:49 PM
If waitresses made $10.10 no I wouldn't tip. However if waitresses made that much, the cost of going put to eat is going to drastically increase
Anonymous
by Anonymous 6 on Mar. 26, 2014 at 8:49 PM
CT just became the first state to pass this bill. Looks like people will be getting a pretty decent raise! I'm a bit surprised at the large jump!

I don't think it applies to waitresses though. The current minimum wage doesn't so I don't see why this one would.
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