Report says wage hike could cost 500k jobs, put Dems on
defensive BY: Alan Fram Presenter: Ajaypaul Dhillon
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Overview Summarize: Key points Utilitarian Approach Alternative
Decision Duty-Base Approach Kant's Second Imperative Virtue-Base
Approach Solution Video
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Summary Cost a half-million job Increase more than 16.5 million
peoples pay Lift 900,000 people over the federal poverty
threshold.
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Summary Democrats 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 jobs
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What would a consequentialist do? Support minimum wage
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Minimum wage at $9 or $10.10 $9 Would increase wages for 7.6
million people Lift 300 thousand people over the federal poverty
threshold. 100 thousand fewer jobs $10.10 Would increase pay for
16.5 million people Lift 900 thousand people over the federal
poverty threshold. 500 thousand fewer jobs
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Utilitarian 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.
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Duty-Based Ethics
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Kant's Second Form of the Categorical Imperative So 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.
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Virtue-Based Ethic
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Solution #1
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Solution #2 The 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
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Solution #3 People can work less.
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Solution #4 Raising the Earned Income Tax Credit, which gives
tax money back to those earning below a certain income level.
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To read the Report Click Link:
http://cbo.gov/sites/default/files/cbofiles/attachment
s/44995-MinimumWage.pdf CBO Report Video:
http://www.thedailyshow.com/watch/thu-february-6-
2014/the-cbo-report
http://cbo.gov/sites/default/files/cbofiles/attachment
s/44995-MinimumWage.pdf
http://www.thedailyshow.com/watch/thu-february-6-
2014/the-cbo-report
