Obama To Push For Minimum Wage Hike At Central Connecticut

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Photo Credit: File

FAIRFIELD COUNTY, Conn. -- President Barack Obama will speak at Central Connecticut State University on Wednesday in his fight to increase the federal minimum wage to $10.10 an hour, Connecticut Gov. Dannel P. Malloy announced Saturday.

Malloy and Obama will be joined at the event on the New Britain campus by Gov. Deval L. Patrick of Massachusetts, Gov. Lincoln D. Chafee of Rhode Island and Gov. Peter E. Shumlin of Vermont.

“There is a debate happening across our country on how to tackle the growing income inequality that is detrimental to our middle-class families and to our economy. Part of tackling that critically important challenge is making sure that we recognize that a decent wage is good for workers and good for business,” said Malloy in a statement.

“For too long, the minimum wage has not kept up with the cost of living,” he said. “As studies have shown, the workers who would benefit from a minimum wage increase brought home 46 percent of their household’s total wage and salary income in 2011. When workers earn more money, businesses will have more customers. This modest boost will help those earning the least to make ends meet.”

More details about the event will be released later in the week, his office said.

In February, Malloy met with Obama and other Democratic governors at the White House to discuss plans to increase the minimum wage. (Read about that visit here at the Daily Voice.) He championed a plan in his State of the State address to hike the minimum wage in Connecticut to $10.10 per hour by 2017, Gov. Dannel Malloy announced Tuesday. (Read about his plan here in the Daily Voice.)

The minimum wage in Connecticut was increased to $8.70 per hour on Jan. 1, 2014. A second increase to $9 per hour is scheduled to take effect Jan. 1, 2015. Malloy is now looking to raise the minimum wage to $10.10 per hour by 2017, mirroring recent national efforts by Obama and Congressional leaders to raise the federal minimum wage to that same amount. 

“I am happy to welcome President Obama and my New England colleagues to Connecticut for the next phase of this incredibly important debate,” Malloy said. “Working together, we can and will make sure that people who work 40 hours a week don’t live in poverty.”

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Comments (22)

You don't need a big fancy report to KNOW that this can only drive prices up to make up the difference and still turn a profit OR result in cutting jobs. If you question this you just don't have much common sense or understand finances at all.

WRONG AGAIN KENNY
Here is the truth from
norealIy:

A copy and paste from the CBO report
Please read
Thanks
Robbie
Here are some key takeaways from the CBO report:
1.More than 700,000 American workers would be lifted out of poverty
More than 1 million retail workers and their family members live in or close to poverty. By raising the minimum wage of full-time workers to the equivalent of $12.25 per hour, 734,075 people would be lifted out of poverty and an additional 769,191 people living near the poverty line would see their incomes rise to more than 150 percent above the poverty line.
2.GDP would rise by as much as $15.2 billion
A wage increase to $12.25 an hour would impact more than 5 million workers and their families. As these families have access to more money, they will spend more, translating to as much as $15.2 billion in new economic activity, according to Demos.

3.132,000 new jobs could be created
If the increase in economic activity reached $15.2 billion, retailers would need 132,000 new employees.

4.The wage increase would actually only cost retailers about 1 percent of total sales
Large retailers would need to absorb the higher labor cost for the 3.5 million workers earning less than $12.25 per hour. But according to Demos, most of this increase in costs would be returned to the firm in the form of productivity gains and increased revenues, amounting to only 1 percent of their total yearly sales.

5.It would generate as much as $5 billion in additional retail revenue
In fact, assuming that low-income families spend rather than save the money from the wage increase, retailers could expect at least 20 cents in new revenue for every additional payroll dollar. That would have added up to as much as $5 billion in 2012.

6.The average shopper would pay just 15 cents more per shopping trip at most
Even if the nation's largest retailers decided to pass off the cost of a $12.25 minimum wage increase entirely to customers, Demos found that an average household would spend just 7 to 15 cents more per shopping trip.

Thanks to president Obama and Governor Malloy we now have the lowest unemployment rate since the village idiot Republican war criminal Bush destroyed the economy.

A nation of part time jobs.They actually count them.Also,more people have simply given up looking because they know in the Obama economy there isn't much chance they will find a full time job.Sometimes,BCJ,its better to say nothing and seem a fool,than to open your mouth and remove all doubt.

Yes Queen and you sure do look like a fool... Thanks for the admission.

I guess that's what passes for "wit"with you clowns."noreally your honor,I haven't done mushrooms in years".

More lies and propaganda from the right wing wackos. Thanks Governor Malloy and president Obama for fixing the screwups of past Republicans

Thanks Governor Malloy and president Obama for getting us back to lowest unemployment since the village idiot war criminal Republican Bush destroyed the economy.. We now have plenty of good full time jobs for people with 21st Century skills

A copy and paste from the CBO report
Please read
Thanks
Robbie
Here are some key takeaways from the CBO report:
1.More than 700,000 American workers would be lifted out of poverty
More than 1 million retail workers and their family members live in or close to poverty. By raising the minimum wage of full-time workers to the equivalent of $12.25 per hour, 734,075 people would be lifted out of poverty and an additional 769,191 people living near the poverty line would see their incomes rise to more than 150 percent above the poverty line.
2.GDP would rise by as much as $15.2 billion
A wage increase to $12.25 an hour would impact more than 5 million workers and their families. As these families have access to more money, they will spend more, translating to as much as $15.2 billion in new economic activity, according to Demos.

3.132,000 new jobs could be created
If the increase in economic activity reached $15.2 billion, retailers would need 132,000 new employees.

4.The wage increase would actually only cost retailers about 1 percent of total sales
Large retailers would need to absorb the higher labor cost for the 3.5 million workers earning less than $12.25 per hour. But according to Demos, most of this increase in costs would be returned to the firm in the form of productivity gains and increased revenues, amounting to only 1 percent of their total yearly sales.

5.It would generate as much as $5 billion in additional retail revenue
In fact, assuming that low-income families spend rather than save the money from the wage increase, retailers could expect at least 20 cents in new revenue for every additional payroll dollar. That would have added up to as much as $5 billion in 2012.

6.The average shopper would pay just 15 cents more per shopping trip at most
Even if the nation's largest retailers decided to pass off the cost of a $12.25 minimum wage increase entirely to customers, Demos found that an average household would spend just 7 to 15 cents more per shopping trip.

here's the report. the NET effect is a LOSS fo 500k jobs....but go ahead. raise it. see who gets hurt.

http://www.cbo.gov/sites/default/files/cbofiles/attachments/44995-MinimumWage.pdf

Hey everybody,step right up and see the country's two biggest job destroyers on stage at the same time! The greatest show on earth! Tweedle Dee,and Tweedle Dumb! Noreally your honor,thats not my crack pipe.

Will the Press ask the President why he is advocating for the ELIMINATION OF 500,000 JOBS?

From his own Congressional Budget Office study this month:

"Once fully implemented in the second half of
2016, the $10.10 option would reduce total employment
by about 500,000 workers"

A copy and paste from the CBO report
Please read
Thanks
Robbie
Here are some key takeaways from the CBO report:
1.More than 700,000 American workers would be lifted out of poverty
More than 1 million retail workers and their family members live in or close to poverty. By raising the minimum wage of full-time workers to the equivalent of $12.25 per hour, 734,075 people would be lifted out of poverty and an additional 769,191 people living near the poverty line would see their incomes rise to more than 150 percent above the poverty line.
2.GDP would rise by as much as $15.2 billion
A wage increase to $12.25 an hour would impact more than 5 million workers and their families. As these families have access to more money, they will spend more, translating to as much as $15.2 billion in new economic activity, according to Demos.

3.132,000 new jobs could be created
If the increase in economic activity reached $15.2 billion, retailers would need 132,000 new employees.

4.The wage increase would actually only cost retailers about 1 percent of total sales
Large retailers would need to absorb the higher labor cost for the 3.5 million workers earning less than $12.25 per hour. But according to Demos, most of this increase in costs would be returned to the firm in the form of productivity gains and increased revenues, amounting to only 1 percent of their total yearly sales.

5.It would generate as much as $5 billion in additional retail revenue
In fact, assuming that low-income families spend rather than save the money from the wage increase, retailers could expect at least 20 cents in new revenue for every additional payroll dollar. That would have added up to as much as $5 billion in 2012.

6.The average shopper would pay just 15 cents more per shopping trip at most
Even if the nation's largest retailers decided to pass off the cost of a $12.25 minimum wage increase entirely to customers, Demos found that an average household would spend just 7 to 15 cents more per shopping trip.

The CBO report states on page 5 (first page of the Exec. Summary, after all the cover pages, etc)

The net effect of increasing the min wage will be to eliminate 500k jobs. As others have stated, some will benefit....but even more will lose entirely. why does our political leadership PUSH for the elimination of 500,000 jobs?

From the CBO Report:
"Once fully implemented in the second half of
2016, the $10.10 option would reduce total employment
by about 500,000 workers"

Here is the URL for those who will eventually call me a liar.

http://www.cbo.gov/sites/default/files/cbofiles/attachments/44995-MinimumWage.pdf

Raising the Minimum Wage Would Help, Not Hurt, Our Economy Raising the minimum wage would be good for our economy. A higher minimum wage not only increases workers’ incomes—which is sorely needed to boost demand and get the economy going—but it also reduces turnover, cuts the costs that low-road employers impose on taxpayers, and pushes businesses toward a high-road, high-human-capital model. Despite these positive benefits, and the sad fact that the minimum wage is worth far less today than it was in the late 1960s, with the Senate set to vote to raise the federal minimum wage from $7.25 to $10.10 per hour, opponents will likely trot out the same unfounded argument that the minimum wage reduces employment. And with today’s unemployment rate stuck above 7 percent, we anticipate these types of arguments to reach a fevered pitch. The evidence, however, is clear: Raising the minimum wage does not have the harmful effects that critics claim. A significant body of academic research finds that raising the minimum wage does not result in job losses, even during periods when the unemployment rate is high. Critics of the minimum wage, however, often hold on to the claim that raising the minimum wage will lead to job losses and ultimately hurt the overall economy, exacerbating the problem of high unemployment. The argument that raising the minimum wage will increase unemployment is somewhat far-fetched, since the minimum wage impacts a relatively small share of the overall workforce, which is itself concentrated in certain industries such as restaurants and demographic groups such as teenagers. V

Gov Malloy and Pres????? Obama
DO NOT CHANGE THE Attempts of the Three Remaining Indian Tribes looking for Federal recognition !!!!!! For it was their land to begin with.
I REMIND YOU Mr. OBAMA that they are "People of COLOR" and you must not be "One Sided" in this matter for to do so shows EXTREME PREJUDICE !!!!!!! Hope Both of you GET THIS MESSAGE--RECOGNIZE !!!!!

No big deal. Some people will benefit from the min wage hike as they will make few bucks more per hour. But some other people will lose their min wage jobs. They will go from $7.25/hr to $0/hr.
Min wage hike is a form of wealth transfer from some poor people to other poor people.

But for vast majority of people this min wage hike will not affect them whatsoever, because they are not making anywhere near min wages. No big deal.

john.real.965
You may want to have someone read the CBO report to you that I posted below as it states the increase of the min wage will increase jobs. However I do agree with you that the min wage increase is still not enough . It should be at least 20 per hour.

Raising the Minimum Wage Would Help, Not Hurt, Our Economy Raising the minimum wage would be good for our economy. A higher minimum wage not only increases workers’ incomes—which is sorely needed to boost demand and get the economy going—but it also reduces turnover, cuts the costs that low-road employers impose on taxpayers, and pushes businesses toward a high-road, high-human-capital model. Despite these positive benefits, and the sad fact that the minimum wage is worth far less today than it was in the late 1960s, with the Senate set to vote to raise the federal minimum wage from $7.25 to $10.10 per hour, opponents will likely trot out the same unfounded argument that the minimum wage reduces employment. And with today’s unemployment rate stuck above 7 percent, we anticipate these types of arguments to reach a fevered pitch. The evidence, however, is clear: Raising the minimum wage does not have the harmful effects that critics claim. A significant body of academic research finds that raising the minimum wage does not result in job losses, even during periods when the unemployment rate is high. Critics of the minimum wage, however, often hold on to the claim that raising the minimum wage will lead to job losses and ultimately hurt the overall economy, exacerbating the problem of high unemployment. The argument that raising the minimum wage will increase unemployment is somewhat far-fetched, since the minimum wage impacts a relatively small share of the overall workforce, which is itself concentrated in certain industries such as restaurants and demographic groups such as teenagers. V

a) you're 100% incorrect on the findings of the CBO report
b) if $20 is better for the economy and will "increase jobs" as you say, wouldnt $40/hr be even better? if $40/hr is better than $20/hr, why not $100/hr? $200/hr? your logic is faulty.

if increases in the minimum wage "increase jobs" as you say, why stop at $10.10?

fact is, you leftists - while claiming to be well intentioned - are hurting the very people you claim to want to help.

A copy and paste from the CBO report
Please read
Thanks
Robbie
Here are some key takeaways from the CBO report:
1.More than 700,000 American workers would be lifted out of poverty
More than 1 million retail workers and their family members live in or close to poverty. By raising the minimum wage of full-time workers to the equivalent of $12.25 per hour, 734,075 people would be lifted out of poverty and an additional 769,191 people living near the poverty line would see their incomes rise to more than 150 percent above the poverty line.
2.GDP would rise by as much as $15.2 billion
A wage increase to $12.25 an hour would impact more than 5 million workers and their families. As these families have access to more money, they will spend more, translating to as much as $15.2 billion in new economic activity, according to Demos.

3.132,000 new jobs could be created
If the increase in economic activity reached $15.2 billion, retailers would need 132,000 new employees.

4.The wage increase would actually only cost retailers about 1 percent of total sales
Large retailers would need to absorb the higher labor cost for the 3.5 million workers earning less than $12.25 per hour. But according to Demos, most of this increase in costs would be returned to the firm in the form of productivity gains and increased revenues, amounting to only 1 percent of their total yearly sales.

5.It would generate as much as $5 billion in additional retail revenue
In fact, assuming that low-income families spend rather than save the money from the wage increase, retailers could expect at least 20 cents in new revenue for every additional payroll dollar. That would have added up to as much as $5 billion in 2012.

6.The average shopper would pay just 15 cents more per shopping trip at most
Even if the nation's largest retailers decided to pass off the cost of a $12.25 minimum wage increase entirely to customers, Demos found that an average household would spend just 7 to 15 cents more per shopping trip.