Net result: A win/win outcome.

CBO Sees Minimum Wage Hike Lifting 900,000
Out of Poverty

Initial reaction to Tuesday’s Congressional Budget Office report about raising the minimum wage focused on job losses. But here’s another estimate from the report for Washington to chew on: Hiking the minimum wage to $10.10 an hour would lift about 900,000 people out of poverty.

The 43-page report released Tuesday afternoon by the nonpartisan agency is certain to quickly become fodder for both sides of the aisle as lawmakers move to debate an increase in the minimum wage. President Barack Obama and Democrats have called for raising it to $10.10 an hour from its current $7.25.

Republicans seized on the report’s estimate that a $10.10 minimum wage would cut employment by 500,000 workers by 2016.

AD readers are now privy to a few additional predictions that neither political party is likely to even know about if the raise becomes law. They are: Among the 900,000 receiving higher pay there will be fewer crimes, less incarcerations, lower obesity rates, higher literacy rates, longer life expectancies, fewer suicides, fewer teen pregnancies, fewer mental health issues, and more social mobility. Many of the 500,000 who are likely to lose their jobs will qualify for government sponsored job retraining programs and temporary benefits with unemployment insurance payments, and additional food stamps until they become employed again.

The net result would be a win/win situation for everyone.