$10.10 an hour minimum wage will cost the country around half a million jobs

$10.10 an hour minimum wage will cost the country around half a million jobs

There are some treasures that must be unearthed, but others are handed to us.  Tuesday’s report from the non-partisan Congressional Budget Office is firmly in the latter category for Republicans everywhere who aspire to set the electoral record straight this November.

     I am referring, of course, to the report issued by the CBO stating that the Obama administration’s new proposal to raise the federal minimum wage from $7.25 an hour to $10.10 an hour will cost the country around half a million jobs.

     500,000. That’s a lot of zeroes, and a lot of families potentially affected by this well-intended plan.

     Newsslinger readers may recall a commentary I wrote concerning another recent report by the CBO which stated that the Affordable Care Act will significantly reduce the number of hours worked by Americans as people quit jobs or work fewer hours since their health insurance is no longer tied to their employment. That earlier CBO report of February 4th became a subject of controversy between those who thought that this was a good thing (like the administration) and those who thought it was not (like myself). Yes, it’s great that people feel like they can work less because the welfare state just got a nice boost, but it still adds up to a lot of lost hours, hours equivalent to 2.3 million full-time jobs.  That’s a lot of milk being suckled at Big Brother’s teats by our comrades.

     Former Congressional representative Bart Stupak (D-MI) said that this new CBO report about the minimum wage is “going to give a lot of angst to Democrats.” They’re not the only ones. If I was making less than $10.10 an hour right now I might be having a little angst of my own concerning whether I’ll still have a job in the future or not.

     Democrats aren’t able to find much wiggle room when it comes to the CBO report on the minimum wage. They’re having a hard time countering it. What they’re doing is pointing to other information in the report asserting that 900,000 American families would no longer be considered below the federal poverty level. Whether this is true or not, it’s alarming that the government is willing to subject Americans to an economic lottery of this sort. So for every one or two people who see their income nudged over the arbitrarily-designated federal poverty line, another person will lose their job entirely? Is that the kind of economic legislation we should welcome in our country? It sounds like Obama is willing to better one person at the expense of another and call it a day. It’s a bait and switch tragicomedy typical of Democrats and one we have already seen enacted in the ACA, albeit with better costumes and scenery.

     King Obama and his lords are trolling for votes in the lead-up to the Congressional elections by effectively bribing the American people with minimum wage legislation oppressive to their business-owning employers, with what is effectively more cholesterol for the plaque-ridden arteries of American capitalism. There are other reports by liberal think tanks that allege that raising the minimum wage will usher in a socialist wonderland, which makes the non-partisan CBO report that much more significant. Promises of higher paychecks may be music to voters’ ears until its tones remain unsullied by the sour notes of reality; that is, by half a million Americans suddenly losing their jobs. Fascism, economic or otherwise, often sounds splendid as long as it’s being done to someone else.

     John Boehner’s spokesperson Brendan Buck wrote in an email that “this report confirms what we’ve long known: while helping some, mandating higher wages has real costs, including fewer people working. With unemployment Americans’ top concern, our focus should be creating – not destroying – jobs for those who need them most.”

     I’m not sure I could put it better myself. We are best served when the government limits itself to essential functions such as enforcing contracts and providing for national defense. The fact that this assertion is a hoary libertarian one doesn’t make it any less true. Obama was not elected to play games with the American people’s financial well-being. In domestic policy this administration has consistently shown itself willing to make American citizens their unwilling guinea pigs in experiments involving socialized medicine and the revocation of constitutional rights. This most recent move toward increasing the minimum wage is only the latest offense in a pattern by this administration of indifference and callousness toward all Americans, whether they are Democrats, Republicans, and independent. Obama is devoted to emulating the failed models of the past including centralized planning and tyranny. When it comes to history, this administration is plainly on the wrong side of it.

Thomas Davis – NEWSslinger Contributor