Report says wage hike could cost 500k jobs, put Dems on defensive

Report says wage hike could cost 500k jobs, put Dems on defensiveBY: Alan FramPresenter: Ajaypaul Dhillon

OverviewSummarize: Key pointsUtilitarian ApproachAlternative DecisionDuty-Base ApproachKant's Second ImperativeVirtue-Base ApproachSolutionVideo

SummaryCost a half-million jobIncrease more than 16.5 million peoples payLift 900,000 people over the federal poverty threshold.SummaryDemocrats concluded that the increase would reduce jobs in 2016 by roughly 500,000 or 0.3 percent. 600 economist cited academic findings that increase in the minimum wage have had little or no negative effect on the employment of minimum-wage workers, even during the times of weakness in the labor market.Senator Mitch McConnell argument: The CBO report shows that raising the minimum wage could destroy as many as 1 million jobsWhat would a consequentialist do?Support minimum wage

Minimum wage at $9 or $10.10$9Would increase wages for 7.6 million peopleLift 300 thousand people over the federal poverty threshold. 100 thousand fewer jobs $10.10Would increase pay for 16.5 million peopleLift 900 thousand people over the federal poverty threshold.500 thousand fewer jobsUtilitarian Fallacies#1 Utilitarianism is determined, not by pleasure and pain, nor by happiness and unhappiness, but just by preference. Actions may be listed according to preference without quantifying degrees of preference. This is known as preference-based ordinal utilitarianism. (Ordinal numbers are first, second, third etc.; theyre distinguished from cardinal numbers, such are 1, 2, 3, 4, . . . . etc. Cardinal numbers express not just order but also quantity.)

#2 Using a strictly consequentialist approach is that it is often difficult to obtain the information required to evaluate all of the consequences for all stakeholders who may be directly or indirectly affected by an action or decision. #3 Another difficulty with this type of approach is that the rights of a minority group can easily be sacrificed for the benefit of the majority.

Duty-Based Ethics

Kant's Second Form of the Categorical ImperativeSo act that you use humanity, whether in your own person or in the person of any other, always at the same time as an end, never merely as a means. This means that we should value the other person solely for who they are and not merely use them to serve our needs.

Virtue-Based Ethic

Solution #1

Solution #2The other option is to increase high school to 6 years. Benefits: Graduates leave with an associates and some programs can guarantee $40,000 after graduation. Issue is where the money will come from

Solution #3People can work less.

Solution #4Raising the Earned Income Tax Credit, which gives tax money back to those earning below a certain income level.

To read the Report Click Link:http://cbo.gov/sites/default/files/cbofiles/attachments/44995-MinimumWage.pdfCBO Report Video: http://www.thedailyshow.com/watch/thu-february-6-2014/the-cbo-report

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