Tag: socialism

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Readers say 500,000 to 1 million jobs will be lost due to the Minimum Wage Hike

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Readers say 500,000 to 1 million jobs will be lost due to the Minimum Wage Hike 

If you read the article, you’ll see that 500,000 jobs gone is the lower end of the CBO estimate. The upper end is 1million. ( https://theridgewoodblog.net/cbo-says-minimum-wage-bill-would-cost-jobs-boost-income/ )

How can Jason Furman, who claims to be an economist, be anything other than a government shill? The supply and demand theory that is the basis of economics says that when you raise the price of something by 40%, demand for it will surely fall. Surely, he knows better.

The ones who will be hurt the most by this are minority youth trying to enter the workforce. Look for inner city youth unemployment to rise significantly and hundreds of thousands more to land on the dole. Maybe that’s the goal here.

If you can’t pull better than a minimum wage job you’re the one whose going to lose here. Big government cannot dictate what businesses will do. So they force businesses to pay more. What happens? Employees are dismissed and those remaining are required to do more.

Most businesses that can only pay minimum wage are marginal at best. This could cause a few to close their doors. Thanks Barry!
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Reader says Class warfare never works

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Reader says Class warfare never works

Where are all these rising home values? Not here. Prices tanked from the high’s of 2006, 2007 and are nowhere near what they were.
Many of the big ‘earners’ left NYC years ago for CT. Then CT couldn’t resist and implemented an income tax. Many hedge funds are still in Greenwich and Stamford to avoid NY/NYC taxes.
Many of the very big earners that I know have moved to FL for their principle residence (when able). Unless they send their kids to boarding school, they’d stay around here until the last one graduates High school.
Many of the 500k-10million earner types have to have a presence in the area. But the real big earners head south. As such, their income taxes must be replaced by the rest of us.

Class warfare never works. But the left wingers keep using it to ‘rally the troops’ and in the end, the smart rich guys manage to legally keep as much of their well earned income away from the tentacles of the government. This crap never worked in Cuba and North Korea, and it wont work here. So will one of you Dumbocrats please tell Barry to pick a new subject.

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The United States of Decline

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The United States of Decline
America unravels at an increasingly dizzying pace.
By Deroy Murdock

America is unraveling at a stunning speed and to a staggering degree. This decline is breathtaking, and the prognosis is dim.

For starters, Obama now rules by decree. Reportedly for the 27th time, he has changed the rules of Obamacare singlehandedly, with neither congressional approval nor even ceremonial resolutions to limit his actions. Obama needs no such frivolities.

“That’s the good thing about being president,” Obama joked on February 10. “I can do whatever I want.” In an especially bitter irony, Obama uttered these despicable words while guiding French president François Hollande through Monticello, the home of Thomas Jefferson — a key architect of America’s foundation of limited government.

https://www.nationalreview.com/node/371248/print

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NAACP president: Black people worse off under Obama

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NAACP president: Black people worse off under Obama

NAACP President and CEO Benjamin Jealous said Sunday that black Americans “are doing a full point worse” than when President Obama first took office.

“The country’s back to pretty much where it was when this president started,” Mr. Jealous told MSNBC host David Gregory on “Meet the Press.” “White people in this country are doing a bit better. Black people are doing a full point worse.”

The black unemployment rate was 12.7 percent when Mr. Obama took office. While the unemployment rate in the U.S. as a whole is below 8 percent, the Labor Department reported the black jobless rate was up from 12.9 percent to 14 percent for December.

The worst during Mr Obama’s first term was in September 2011, with 16.7 percent unemployment for blacks — the highest since 1983, the Department of Labor reports. The black teen jobless rate hit a staggering 39.3 percent in July 2012.

Read more: https://www.washingtontimes.com/news/2013/jan/28/naacp-president-black-people-worse-under-obama/#i

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Byron York: Obamacare will reduce incomes of most Americans

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Byron York: Obamacare will reduce incomes of most Americans

By Byron York | FEBRUARY 3, 2014 AT 6:23 PM

There’s no doubt the Affordable Care Act will redistribute wealth in America. People at the top of the income ladder will pay more; people at the bottom will benefit. But how, exactly, will that work?

A new study finds that Obamacare’s redistribution will be stunningly lopsided. Scholars at the liberal Brookings Institution have discovered that Obamacare will increase the income of Americans in the lowest 20 percent of the income scale, and especially in the lowest ten percent. But all other income groups — even people who make very modest incomes in the $25,000 to $30,000 range, as well as all income brackets above that — will experience a decline in income because of Obamacare.

In other words, Obamacare is going to cost some of the very people it was designed to help.

Brookings scholars Henry Aaron and Gary Burtless sought to determine the law’s impact on income in 2016, when almost all of Obamacare will be in effect. To do so, they adopted a broad definition of income — not just a person’s wages, but also pension income, employer health coverage, government cash transfers, food stamps, other benefits, and now, subsidies from Obamacare.

They found quite an impact. “The ACA may do more to change the income distribution than any other recently enacted law,” Aaron and Burtless wrote. Obamacare provides billions in subsidies to those who qualify, expands Medicaid benefits, cuts Medicare, fines those who don’t purchase government-approved coverage and levies new taxes — all of which will change how much income millions of Americans bring in each year.

https://washingtonexaminer.com/byron-york-obamacare-will-reduce-incomes-of-most-americans/article/2543390

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Authoritarianism Persists Around the World, But Not Because of an American “Crisis of Confidence”

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Authoritarianism Persists Around the World, But Not Because of an American “Crisis of Confidence”
Jesse Walker|Jan. 24, 2014 11:04 am

Freedom House’s annual report came out this week, and it’s pretty glum. Here’s how the organization’s announcement of its findings begins:

The state of freedom declined for the eighth consecutive year in 2013, according to Freedom in the World 2014, Freedom House’s annual country-by-country report on global political rights and civil liberties.

Particularly notable were developments in Egypt, which endured across-the-board reversals in its democratic institutions following a military coup. There were also serious setbacks to democratic rights in other large, politically influential countries, including Russia, Ukraine, Azerbaijan, Turkey, Venezuela, and Indonesia.

The report itself notes that “the overall level of regression was not severe,” with 40 countries getting freer and 54 getting more authoritarian. Freedom House’s list of which countries are “free,” “partly free,” or “not free” hasn’t changed much: The number of countries in the “free” category declined by two, and the numbers in the other categories went up by one apiece. The number of electoral democracies actually increased by four. So while there’s plenty of bad news here, the situation isn’t as dire as that lede suggests.

https://reason.com/blog/2014/01/24/authoritarianism-persists-around-the-wor

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Record 20% of Households on Food Stamps in 2013

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Record 20% of Households on Food Stamps in 2013
January 21, 2014 – 4:34 PM

By Ali Meyer

(CNSNews.com) — A record 20% of American households, one in five, were on food stamps in 2013, according to data from the U.S. Department of Agriculture (USDA).

– See more at: https://cnsnews.com/news/article/ali-meyer/record-20-households-food-stamps-2013#sthash.sKvKHpir.dpuf

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Examiner Editorial: If top 5% paid 40% of taxes, what is their ‘fair’ share?

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Examiner Editorial: If top 5% paid 40% of taxes, what is their ‘fair’ share?
November 22, 2012 | 8:00 pm

Riding a wave of confidence after his re-election victory, President Obama is eager to collect scalps from the class war he appears to have won. Americans, Obama said in his postelection news conference earlier this month, “want to make sure that middle-class folks aren’t bearing the entire burden and sacrifice when it comes to some of these big challenges. They expect that folks at the top are doing their fair share as well.” House Minority Leader Nancy Pelosi, D-Calif., echoed this point in a fundraising pitch sent out on Monday: “Voters sent a clear message to Republicans in the election: we must stand up for the middle class and ensure the wealthy pay their fair share.”

Although Obama and his fellow Democrats repeatedly call on wealthier Americans to pay their “fair share,” they never specify what percentage of the nation’s tax burden the wealthy would have to bear. As matters stand, the top 1 percent of American households paid 39 percent of income taxes in 2009, according to the most recent data compiled by the Congressional Budget Office, and the top 5 percent of taxpayers paid 64 percent.

But income taxes, taken in isolation, do not tell the whole story, because lower-income Americans do pay payroll taxes. But even taking into account all forms of taxation, the top 1 percent still paid 22 percent of federal taxes while earning just 13.4 percent of household income. The top 5 percent paid 40 percent of all federal taxes, despite earning only 26 percent of all income. No matter how you slice the numbers, it’s hard to understand why anyone would think the wealthy aren’t already shouldering a burden commensurate with their blessings.

https://washingtonexaminer.com/examiner-editorial-if-top-5-paid-40-of-taxes-what-is-their-fair-share/article/2513985#.ULIJXuTLQxE