Obama Contemplates The Little People
Behold, as the Wise Leader Tells Businesses How To Run Their Operations.
From 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.”GO READ THE WHOLE THING.
1 comment:
lies of the left:
PROFIT IS IMMORAL.
losing your job is liberation.
co2 is toxic.
jews are illegal aliens in palestine and jerusalem should be divided.
teapartiers are racists.
republicans support slavery of blacks and subjugation of women.
rich conservatives are evil but rich liberals are saints.
actors are geniuses.
rapes by leftists aren't rape-rape.
fox news lies and obama tells the truth.
the world has gotten safer, and richer and more secure because of obama.
the seas have stopped rising because of obama.
we are near full employment because of obama.
obama can do no wrong and can rewrite any law anytime he wants.
the constitution is not written in stone except for abortion, so we can pass gun control and limit the speech of conservatives.
all religion is evil - except for islam - and religious people are dumb except for muslims, that would islamophobic.
what's most wrong with the world is too much co2 and illegal same sex marriage and the fact that southerners exist.
europe is heaven.
the third world would be as rich as us if big corporations and the usa didn't steal from them.
the only thing holding back the usa economy is that we have too few regulations and our taxes are too low.
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