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In a town this size, there's no place to hide
Everywhere you go, you meet someone you know...
In a smokey bar, in the backseat of your car
In your own little house, someone's sure to find you out
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(Kieran Kane)

Thursday, April 26, 2012

Cuomo confused by Econ 101

Andy Cuomo poses with pal Al Sharpton

2016 Democrat presidential candidacy front-runner Andy Cuomo appears to believe that an increase in New York's minimum wage will both decrease and increase employment, at the same time, in the financially struggling Empire State.
Gov. Cuomo played footsie with a possible minimum- wage increase yesterday, calling a hike a potential job-creator.
He acknowledged the argument of Senate Majority Leader Dean Skelos and other opponents that an increase could lead small businesses to cut jobs — especially for young, less-skilled workers.
But, he told reporters at the Capitol, “As a general rule, I don’t believe [increasing] the minimum wage costs jobs if it’s an intelligent increase. I believe it can create jobs, as a matter of fact, and create spending. The question becomes, what numbers?”
While we're at it, why don't we raise taxes again?  That should encourage more business to relocate here, right?

Increasing the cost of entry-level employees will result in fewer employment opportunities for the youngest, least skilled New Yorkers.  Candidate Cuomo needs to read up on basic economics.

1 comment:

  1. Yeah, I had a letter in the Ithaca Journal for the Econ 101-challenged:


    and a post at One of Nine that included the Tax Foundation graph you linked to:


    This stuff is not hard to understand.