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Liberals and the minimum wage


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Liberals as usual ignore both Economics 101 and common sense when they claim that raising the minimum wage won't hurt the economy and lose jobs.

 

And as usual, Obama lied about it.

 

Economists overwhelmingly agree it will hurt the economy and jobs, as even moderatel liberal economist Robert Samuelson concedes.

 

 

 

Make jobs, not propaganda
Robert J. Samuelson

The White House is engaging in fairy-tale economics with its claims about raising the minimum wage....

Choices exist. On some, the White House has voted against job creation. Naturally, it tries to obscure this. Concerning the minimum wage, it predictably assailed the estimated job losses. These don’t reflect the “consensus view of economists . . . that raising the minimum wage has little or no negative effect on employment,” wrote Jason Furman and Betsey Stevenson of the White House Council of Economic Advisers.

How convenient. Conflicts vanish. The decision is a no-brainer. So say the studies.

This is fairy-tale economics
. Many studies find negative job effects. The CBO didn’t make them up.
http://www.washingtonpost.com/opinions/robert-samuelson-obama-uses-fairy-tale-economics-on-minimum-wage/2014/02/23/1247e41a-9b1d-11e3-9080-5d1d87a6d793_story.html?hpid=z2
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