Tuesday, February 18, 2014

President Obama on Raising the Minimum Wage

Many of you undoubtedly received this mass e-mail from the White House...

"Hello everyone,
Earlier today, I signed an Executive Order to raise the minimum wage to $10.10 for federal contract workers.
It's the right thing to do. But what's more, companies have found that when their employees earn more, they're more motivated, they work harder, and they stick around longer. You should expect the same of your federal government.
The bottom line is this: We are a nation that believes in rewarding honest work with honest wages. And America deserves a raise.
If you agree, let me know you're standing with me -- and take a look at what else we're going to do in 2014.
The order I signed today will help folks across the country. But it's not enough.
Right now, there's a bill in Congress that would raise the federal minimum wage to $10.10 an hour for all Americans. It would lift wages for more than 28 million current workers, and would move millions of Americans out of poverty. That means businesses would have customers with more money to spend.
Raising the minimum wage would grow the economy for everyone.
You don't need to believe me: Believe the 600 economists -- including seven Nobel Prize winners -- who wrote both houses of Congress last month to remind them that the bill before them will have little or no negative effect on jobs. "

Can 600 economists be wrong? This web site would like to believe that raising the minimum wage would not damage the economy for everyone. This web site is, however, run by people who've actually been in the U.S. about as long as our President has been alive, and we can't.