STUDY: One Of Richest U.S. Counties Would Lose 47,000 Jobs If Minimum Wage Raised to $15

[IAMX 3,055]

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Maryland's Montgomery County is one of the richest in the nation. The county stretches from the edges of Washington D.C., out past the McMansions in Potomac to the sprawling horse farms in Sunshine and beyond.

The median income in Montgomery County is $95,965, placing it 11th nationwide, according to the 2012 American Community Survey (in all there are eight counties around D.C. in the top 15).

So, they're rich in Montgomery County. But the county would lose some 47,000 jobs in just five years if the minimum wage went to $15, The Washington Post reported. Of course, many of those jobs would be low-wage positions.

 

In all, raising the minimum wage to $15 would result in the loss of $396.5 million of income in the county by 2022.

And even Democrats — or smart ones — know what a $15 minimum wage would do to low-income workers.

 

 

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Montgomery County would lose approximately 47,000 jobs by 2022 if it raises the minimum wage to $15 an hour, according to a study released by the county government Tuesday evening.

County Executive Isiah Leggett (D) commissioned the study — which suggests the vast majority of jobs lost would be low-wage positions — when he vetoed an increase to the minimum wage in January.

Last week, county council member Marc Elrich introduced a new bill to bring the hourly minimum wage up from the current $11.50 to $15. The bill attempted to address opponents’ concerns about the impact of an increase by giving nonprofit organizations, adult day-care providers and companies with fewer than 26 employees until 2022, instead of 2020, to raise wages.

The business community and others who oppose a higher minimum wage criticized Elrich for proposing the legislation days before the study was due. But proponents of raising the wage questioned the value of the study, conducted by the Philadelphia-based economic consulting group PFM, since it asked employers to predict what would happen instead of looking at the impact of an actual wage hike.

[…]

Elrich — one of three council incumbents running to succeed Leggett, who will retire after 2018 — said last week that the PFM study was “nonsense” because it is not possible to project the future impact of a wage increase. He said asking employers about the potential effect of a wage increase was certain to produce negative responses.

 

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No, Seattle and New York have proven that minimum wage hikes are toxic to job creation and economic growth. The American Action Forum did an analysis, where they concluded that over 700,000 jobs were lost due to minimum wage hikes in 2013. USA Today also noted that other states, cities, and localities should look at Seattle when considering such legislation, as it’s wrecking the city.

“If $15 is too much in Seattle, a booming and wealthy city whose region is home to the likes of Amazon and Microsoft, it is too much elsewhere,” wrote the paper’s editorial board. They’re right. 

 

http://www.dailywire.com/news/19383/study-one-richest-us-counties-would-lose-47000-joseph-curl

https://townhall.com/tipsheet/mattvespa/2017/08/03/disaster-maryland-county-would-lose-47-000-jobs-with-minimum-wage-hike-n2363878

 

Honestly, who's surprised at social justice economics failing? Pretty obvious who people shouldn't be listening to.

Edited August 6, 2017 by IAMX

[Póg mo 1,749]

No business which depends for existence on paying less than living wages to its workers has any right to continue in this country.” (1933, Statement on National Industrial Recovery Act)

[IAMX 3,055]

50 minutes ago, Póg mo said:

No business which depends for existence on paying less than living wages to its workers has any right to continue in this country.” (1933, Statement on National Industrial Recovery Act)

 

 

FDR's statements are now law? 

Edited August 6, 2017 by IAMX

[Dashinka 25,667]

51 minutes ago, IAMX said:

 

 

FDR's statements are now law? 

Didn't FDR violate many rights of American citizens?  Wages fixed by the government always end up bringing unintended consequences.  

[IAMX 3,055]

Just now, Bill & Katya said:

Didn't FDR violate many rights of American citizens?  Wages fixed by the government always end up bringing unintended consequences.  

Except what he cited wasn't even law. It was a statement by FDR.

 

Can toss this in the pile of things the left consider law of the land:

 

- Social justice

- Statue of liberty quotes

 

and now

- Presidential statements

 

"You have to go back" (2016, Trump)

 

Law of the land baby. Get the catapults ready.

[ready4ONE 5,400]

Two credible studies, of which the OP selected just one, come to different conclusions regarding the impact of Seattle's minimum wage hike. Like most hikes before, the probability is bad employers who prefer under-paying went all snowflake. Everyone else rolled with the punch.

[Dashinka 25,667]

2 hours ago, ready4ONE said:

Two credible studies, of which the OP selected just one, come to different conclusions regarding the impact of Seattle's minimum wage hike. Like most hikes before, the probability is bad employers who prefer under-paying went all snowflake. Everyone else rolled with the punch.

Wasn't one of the studies orchestrated by the current Seattle administration?  This seems to bring a bit of doubt into its credibility.

[OriZ 3,163]

2 hours ago, Bill & Katya said:

Wasn't one of the studies orchestrated by the current Seattle administration?  This seems to bring a bit of doubt into its credibility.

When 1+1=3....

[eieio 1,594]

14 hours ago, Bill & Katya said:

Didn't FDR violate many rights of American citizens?  Wages fixed by the government always end up bringing unintended consequences.  

It would be nice if occasionally the unintended consequences were positive. 

[Dashinka 25,667]

2 hours ago, eieio said:

It would be nice if occasionally the unintended consequences were positive. 

There are never positive outcomes with socialism. 

 

Margaret Thatcher:  " The problem with socialism is that you eventually run out of other people's money. ”

Winston Churchill:  “Socialism is the philosophy of failure, the creed of ignorance, and the gospel of envy.” and “The inherent vice of capitalism is the unequal sharing of blessings. The inherent virtue of Socialism is the equal sharing of miseries.”

Edited August 7, 2017 by Bill & Katya

[ready4ONE 5,400]

There is no perfect economic system but it is amusing watching those not benefitting from the funnelling of massive wealth into fewer and fewer hands twist themselves into pretzels parroting the disinformation that to do anything else is both useless and harmful, to say nothing of downright un-American.

[Dashinka 25,667]

13 minutes ago, ready4ONE said:

There is no perfect economic system but it is amusing watching those not benefitting from the funnelling of massive wealth into fewer and fewer hands twist themselves into pretzels parroting the disinformation that to do anything else is both useless and harmful, to say nothing of downright un-American.

Do you mean the socialist leaders?  Aren't they the only ones with money in that flawed economic system?  Reference Cuba, Venezuela, DPRK

[IAMX 3,055]

14 minutes ago, Bill & Katya said:

Do you mean the socialist leaders?  Aren't they the only ones with money in that flawed economic system?  Reference Cuba, Venezuela, DPRK

Its ok in socialism having that sort of imbalance.

 

In fact its okay that in a semi-capitalist economy having that imbalance getting worse as government dictates winners and losers.

 

Just make sure that as these imbalances grow to remember these steps:

- Blame capitalism

- Call for more government

- When more inequality occurs

- Blame capitalism

- Call for more government

- Rinse

- Repeat

 

 

[jg121783 3,921]

It's funny. Liberals impose socialist policies on us when they are in power then when their policies fail they blame it on capitalism.

[IAMX 3,055]

Just now, jg121783 said:

It's funny. Liberals impose socialist policies on us when they are in power then when their policies fail they blame it on capitalism.

People with serious issues that need examining. 

 

I think that's why the hyperfocus on Trump's persona -- familiarity.