President Obama told a union organizer who had his hours cut thanks to Obamacare that his proposed minimum wage hike would make up for his lost wages.
A top White House economic adviser and three Democrats on a conference call touting the president’s minimum wage hike could not identify how many workers actually earn the minimum wage.
Fringe elements of the left have long been extremely bothered by intern pay—specifically, the lack thereof in many of the industries that, coincidentally, many on the left want to work in. Media internships—be they in Hollywood or at news outlets—are often unpaid. They are often unpaid because the labor involved is menial, the jobs frequently go to the best connected rather than the best skilled, and interns are typically more work to manage than their meager output is worth.
“But equality or something!” these rabble rousers cry, worrying that it’s super duper unfair that some people agree to work for what their labor is worth (which is to say: nothing). And equality is what they have gotten! Conde Nast, for instance, recently scrapped its internship program altogether because it realized that paying workers more than they’re worth (which is to say: nothing) is an insane business decision. In a tight industry like the media—where subscription rates are falling and ad revenues are declining—throwing money at people who don’t deserve it is nuts.
However, it’s not just unpaid internships that have fallen under the withering gaze of the egalitarians. Super-paid internships are also viewed with a skeptical eye.
Hence this new study from Glassdoor, which lists the 25 highest-paid internships in the land. While Wall Street used to dominate such lists, Silicon Valley is where the action is these days. And, not so coincidentally, Silicon Valley has supplanted Wall Street as enemy number one when it comes to “inequality.”
A top White House economist says that President Obama’s minimum wage increase will have “zero effect” on employment, despite a CBO report that the proposed hike would likely eliminate 500,000 jobs.
The 40 percent minimum wage hike touted by President Obama and congressional Democrats would cut 500,000 jobs and could leave as many as 1 million people unemployed, according to the Congressional Budget Office.
The majority of people who will directly benefit from the minimum wage hike are not actually living in poverty or supporting families, as President Barack Obama has asserted, according to a presentation prepared by the White House.
A new study by the American Action Forum found that just 1.6 percent of American workers make at or below the federal minimum wage and argues raising the rate would do little to help the working poor.
An Organizing for Action advertisement to raise the minimum wage for hard working Americans actually features a British woman riding a London subway train.
President Barack Obama’s decision to unilaterally raise the minimum wage for federal contractors will not help out nearly as many workers as the president’s supporters think.
Costco, whose CEO is a prominent Democratic Party fundraiser, will directly benefit from the 40 percent minimum wage increase proposed by Sen. Tom Harkin (D., Iowa) and embraced by the president in his State of the Union address.