Big business hits back on minimum wage
WASHINGTON (CNNMoney)(CNNMoney)
Buffalo Sabres ccm hockey gear Big business is striking back hard against President Obama efforts to raise the minimum wage, using a government report released just Tuesday that said the effort would both lift people out of poverty and spur job losses.
The commercial opposing President Obama effort to hike the minimum wage touts the report by the Congressional Budget Office released Tuesday, saying to one million jobs will disappear if the minimum wage increases.
The report said that gradually raising the federal minimum wage to $10.10 from $7.25 would boost the incomes of most low wage workers and lift 9,0 out of poverty while resulting in job losses of around 5,0.
The commercial is sponsored by the Employment Policies Institute, a group backed by the restaurant industry and business groups. It will start airing on national television during the Sunday morning talk shows.
is intended to provide a clearer representation of how, when the minimum wage goes up, what some of the consequences are, said group research director Michael Saltsman.
The group plans to spend between $5,0 and $1 million on the ads.
Who behind the ads is a bit of a mystery. But the group research director, Michael Saltsman, said the institute has ties to the restaurant industry and other business groups.
Last year, aa
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Coyotes Black nhl 3rd jerseys run from the same office as the Employment Policies Institute called the Enterprise Freedom Action Committee campaigned against a New Jersey effort to hike the minimum wage, according to New Jersey Election Law Enforcement Commission records. They spent nearly $1 million opposing the ballot measure which voters ultimately approved to raise the minimum wage a dollar to $8.25.
The Enterprise Freedom Action Committee doesn have to disclose donors to anyone but the IRS, said New Jersey Election Law Enforcement Commission Deputy Director Joseph Donohue.
The Employment Policies Institute was organized by Richard Berman, who has an advertising firm and has run other groups that advocate for freedom on issues such as banning smoking in restaurants and taxing soda, as well as lowering the threshold for arresting drunk drivers. He also runs the Center for Union Facts, which criticizes unions.
Several big restaurant companies including YUM! Brands, which owns Taco Bell, KFC, Pizza Hut; Darden Restaurants, which owns Olive Garden and Red Lobster; and Cracker Barrel Old Country Store directly lobbied against a bill to raise the minimum wage last year, according to Senate lobbying reports.
Those companies did not return requests for comment.
Both Darden Restaurants and YUM! Brands have warned investors that an increased minimum wage would adversely affect profit margins, according to SEC filings.
Last week, in an effort to encourage lawmakers to raise the federal minimum, President Obama signed an executive order requiring businesses that get new or renewed federal contracts to pay their minimum wage workers $10.10 an hour starting in 2015. The order is expected to raise wages for a few hundred thousand people.
Wal Mart, was anotheranother
china jerseys nhl large company that lobbied on the federal minimum wage last year, but says that it isn taking a position on Obama latest effort to hike the minimum wage.
haven taken a position either way, said Wal Mart spokesman Kory Lundberg. think thatthat
Blue Jackets college hockey apparel not the only issue here. . . it more to do with whether (workers) have enough opportunity to grow and have opportunity to earn more. Minimum wage is meant for teenagers and those who are just starting out, it is not meant for career or life long work unless you are someone who cannot get any other sort of work (Such as a convict or someone with no skills) if you are one of those people then don be stupid and don start a family! This shouldn even BEBE
Phoenix Coyotes Black china hockey jerseys an issue at this point. except that NoBama likes to hand out lots of money to the poor people for no reason without thinking of the long term consequences. You can bet that a lot of companies are going to either get rid of some of their workforce or close doors completely. I know of a care givergiver
Phoenix Coyotes Black wholesale nhl jerseys china company that only gets so much money from Medicare to put towards their employees while that isn changing, the minimum wage might and they already told me due to the cost of running the business that will for sure make their doors shut!
not true. you know why people have to rely on these min wage jobs now a days because there is no more factorys and places hiring to make you a career. this isn the 70 and 80 anymore factorys arent around so ur comment that people should be trying to start a family on that wage is ridiculous. This has nothing to do with starting a family. This has to do with being able to survive on ur own without government benefits helping you each month. now you tell me where to find a job these days that will hire you and train you like they use to and doesnt pay less than 10. cause god forbide all these people would go work there including myself. Don be ignorant because you have a decent paying job.