Thursday, August 10, 2017

No Jobs In The Suburban Hood

Killing jobs, DC style:
The study was conducted to assess the impact of a proposal in Montgomery County, Md., to raise the minimum wage to $15, up from $11.50. Such a proposal cleared the county council in January but was vetoed by County Executive Isiah Leggett, who commissioned the study.

The results could strike a blow to ongoing efforts in the liberal-leaning county to hike the wage, finding:

47,000 jobs would be lost by 2022, most of them “low-wage positions”
Lost income would total about $396.5 million by 2022
Lost county income tax revenue would total over $40 million in that time period
“The proposed increase in the County minimum wage has the potential to provide some important benefits,” the study noted. “An increase in earnings for low-wage County workers will have tangible positive impacts for low-income workers and their families. This should also lead to reductions in poverty, improvement in mental health and a reduction in hunger and stress among minimum wage workers.”

But it continued, “… At the same time, it is also projected that the wage increase will lead to a significant loss of low-wage jobs. This loss of jobs would lead to a loss of income among County residents. This also has the spillover effect of reduced income tax revenue for the County.”
Liberals love wage hikes-workers, not so much...

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