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04-01-2013 07:49 AM  6 years ago
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Dennis (RIP)

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New York Taxpayers to Subsidize Minimum Wage
New York Taxpayers to Subsidize Minimum Wage

03/28/2013| posted by Jason Pye

How can a government make bad public policy like minimum wage even worse? Use taxpayers to subsidize it. That’s right, the New York legislature will soon increase its minimum wage to from $7.25 to $9 an hour, but they will use taxpayers to subsidize the increase:

A hike in New York’s minimum wage is a big win for Democrats, but a provision buried inside the tentative state budget shows taxpayers will be paying much of the bill.

The “minimum wage reimbursement credit” is spelled out at the bottom of a revenue bill in the budget separate from the minimum wage measure. The credit would reimburse employers for part of the difference in wages from the current $7.25 minimum wage as it rises to $9 an hour by 2016.

Once it reaches $9 an hour, employers would pay 40 cents and taxpayers $1.35 of the extra $1.75 an hour workers are paid.
[…]
The cost of the measure approved in closed-door negotiations between Gov. Andrew Cuomo and legislative leaders won’t be known publicly until after the budget gets final legislative approval, which is expected by the end of this week. Early estimates are between $20 million and $40 million, with no cap on the total.

The increase in the minimum wage is progressive, gradually increasing over the next three years. The Associated Press notes that the minimum wage will be increased to $8 per hour next year, with taxpayers picking up the 75-cent increase. When the minimum wage rises to $8.75 in 2015, taxpayers will cover $1.31 of the cost. And by 2016, when it rises to $9 an hour, taxpayers will be paying $1.35, as noted in the excerpt above.

The minimum wage already hurts teens, entry-level, and low-skilled workers, leaving them out to dry by increasing unemployment. But rather than paying for an increase in the minimum wage through higher prices at the cash register, taxpayers are going be forced to subsidize already terrible public policy with even worse tax policy.

http://www.unitedliberty.org/articl...ze-minimum-wage

My Comments: Welcome to the land of the loony left in New York !!

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04-01-2013 12:33 PM  6 years ago
SSN Pru

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I have friends in syracuse who wish the lower part of the state would separate and form it's own state apart from the northern parts. NY City dominates the politics of that state big time!Stupidity can be cured. Ignorance is for life!
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04-01-2013 12:36 PM  6 years ago
Dennis (RIP)

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I have friends in syracuse who wish the lower part of the state would separate and form it's own state apart from the northern parts. NY City dominates the politics of that state big time!
They might consider seceding from the state and form their own state separate from NY.

That oughta shake up the lefties in NY.

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04-01-2013 12:37 PM  6 years ago
SSN Pru

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NY State has a HUGE reputation for being for being extreme left on many issues when in reality, it's only Albany and NY City!Stupidity can be cured. Ignorance is for life!
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04-01-2013 12:59 PM  6 years ago
Dennis (RIP)

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NY State has a HUGE reputation for being for being extreme left on many issues when in reality, it's only Albany and NY City!
Yeah, its unfortunate they have the population centers under their control. Thus, the entire state.

Same as in California.

They are doomed to failure.
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04-01-2013 04:22 PM  6 years ago
fla heli boy

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most blue states are blue only because of one or two large population centers. Pretty messed up if you axe me.
Why even bother to vote in those cases??? Which is why the left has been winning lately.
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