Now Playing Tracks

Obama's top economic advisor: Raising the minimum wage will help those who want to "work less"

poorrichardsnews:

image

These are the kinds of economic “geniuses” that President Obama listens to. Obama’s top economic advisor said on MSNBC that raising the minimum wage will allow people who want to work less to make a decent living.

Here’s the video:

from CNS:

Raising the minimum wage to $10.10 by 2016 will help “people who just want to work hard,” but it also will help those who want to “work less,” White House economic adviser Gene Sperling told MSNBC’s “Morning Joe” on Wednesday.

He argued that Americans support raising the minimum wage because it will lift “struggling” families out of poverty:

"But they also know what it’s like to see a friend, a neighbor, where one spouse goes back to work, who would prefer maybe not to work. Maybe they’re working part-time just to supplement the family’s income. And they think, if that family member is making that sacrifice — spending less time with the child — then they should be making a decent living or be able to work less because they’re getting a decent wage."

Sperling called an increase to $10.10 a “moderate increase,” and he said it means people “will rely less on the government.”

"These are people who just want to work hard and support their family. That’s why Americans support increasing the minimum wage — that’s why the president supports it."

read the rest

The reality is that the opposite is true.  Oh, some people will work less alright…because they won’t be able to find a job! Sperling’s example of the working mom is just stupid because it fails to account for the inflationary effect that raising the minimum wage will have of the cost of living.  As labor becomes more expensive, the price of everything else goes up with it. 

This is Obama’s reasoning…vote Democrat so we can raise the minimum wage and you can work less!

To Tumblr, Love Pixel Union