Top White House Economic Adviser Says Minimum Wage Is a "Terrible Idea"

[deminks]

https://www.motherjones.com/politics/2018/11/larry-kudlow-white-house-economic-advisor-says-minimum-wage-is-a-terrible-idea/

While raising the federal minimum wage has increasingly seen bipartisan support, there’s one place where the idea isn’t popular: The White House. In fact, the Donald Trump’s chief economic adviser would prefer that the nearly century-old policy be scrapped altogether.

“My view is a federal minimum wage is a terrible idea. A terrible idea,” Larry Kudlow, the director of the National Economic Council, said at a Washington Post event on Thursday. He also dismissed the federal minimum wage as “silly,” warning that it raises costs for struggling small businesses.

Raising the minimum wage has taken on increased popularity in the past five years thanks to movements like Fight for $15 and successful state ballot initiatives. One 2017 poll found that 74 percent of Americans, including 58 percent of Republicans, supported raising the minimum wage to at least $9 an hour and minimum wage ballot initiatives have picked up steam in traditionally conservative strongholds, such as Arkansas and Missouri. The policy has become a mainstream talking point among Democratic politicians, including potential presidential candidates Sens. Bernie Sanders and Elizabeth Warren. The federal minimum wage was first introduced in 1938 and was last raised in 2009 to $7.25 an hour.

(end snip)

Well, that otta give young people an incentive to vote, and vote Democratic. Thanks, asswipes.

[ck4829]

1. So if a minimum wage is horrible, maybe we should have a maximum wage/income instead?

What if the CEO wasn't allowed to take home a hundred thousand dollars. Think of how much that would help out "small businesses".

[tymorial]

3. When a standard three-bedroom Cape costs over $1000000 in Massachusetts

Yes I agree

[tymorial]

2. Do you know what the terrible idea, a truly terrible idea

The rapidly accelerating disparity of wealth in this country. The whole point of the minimum wage was to allow for opportunity of growth, an expanding middle class and potential for financial stability. We see exponential increase in earnings among the top 10%, destruction of the middle class, and generational poverty with no end in sight. And yet with all of that we are supposed to believe that an elimination of minimum wage is somehow going to improve the financial future of American workers? We are already seeing a massive increase in earnings among the wealthiest 10% over the past 50 to 60 years and that includes a periodically increased federal minimum wage. I'm not buying it and anyone that does is a complete f****** idiot

[louis-t]

4. Yeah, just think how great things would be if

no one could afford to buy anything from their employers.