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(c) 2016 Jon L Gelman, All Rights Reserved.

Saturday, February 22, 2014

The Clear Benefits of a Higher Wage

Today's post was shared by Steven Greenhouse and comes from mobile.nytimes.com

Republicans sputtered with outrage when the Congressional Budget Office said that immigration reform would lower the deficit, strengthen Social Security and speed up economic growth. They called for the office to be abolished when it dared to point out that tax cuts raise the deficit or when it highlighted the benefits of health care reform. But now that the budget office has predicted (and exaggerated) the possibility that an increase in the minimum wage might result in a loss of jobs, Republicans think it’s gospel.

“This report confirms what we’ve long known,” said a spokesman for the House speaker, John Boehner. “While helping some, mandating higher wages has real costs, including fewer people working.”

What Republicans fail to mention is that Tuesday’s report from the budget office, a federal nonpartisan agency, was almost entirely positive about the benefits of raising the minimum wage to $10.10 by 2016, as President Obama and Congressional Democrats have proposed.

More than 16 million low-wage workers, now making as little as $7.25 an hour, would directly benefit from the increase, the report said. Another eight million workers making slightly more than the minimum would probably also get raises, because of the upward “ripple effect” of an increase. That would add $31 billion to the paychecks of families ranging from poverty level to the middle class, significantly increasing their spending power and raising the...

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Jon L. Gelman of Wayne NJ is the author NJ Workers’ Compensation Law (West-Thompson) and co-author of the national treatise, Modern Workers’ Compensation Law (West-Thompson). For over 4 decades the Law Offices of Jon L Gelman  1.973.696.7900  jon@gelmans.com  have been representing injured workers and their families who have suffered occupational accidents and illnesses.

Read more about "Minimum Wage and Workers' Compensation:"
Feb 12, 2014
The political posturing over raising the minimum wage sometimes obscures the huge and growing number of low-wage workers it would affect. An estimated 27.8 million people would earn more money under the Democratic ...
Jan 29, 2014
President Barack Obama plans to act unilaterally to raise the minimum wage for employees of federal contractors, a move that asserts his executive powers before his State of the Union address in which he will press ...
Feb 22, 2014
But now that the budget office has predicted (and exaggerated) the possibility that an increase in the minimum wage might result in a loss of jobs, Republicans think it's gospel. “This report confirms what we've long known,” ...
Nov 17, 2013
"The refusal to increase the minimum wage is just one of the ways House Republicans have inflicted harm on the economy and hurt people's pocketbooks," said New York Rep. Steve Israel, who chairs the Democratic ...