Richard Blumenthal on Jobs
Blumenthal said the government can do a better job providing financing and loans to businesses, as well as providing job training and targeted tax deductions for research and development, startup companies and firms that hire new workers. He also called for closing loopholes that allow U.S. companies to send jobs overseas.
McMahon, who used a clip from Blumenthal's response from an earlier debate about how to create a job, [in which Blumenthal stumbled over how government should be involved,] as a political ad, chided her opponent for improving his answer during this latest debate. "I'm very happy you have a notion on how to create jobs," McMahon said.
"She talks about creating jobs," Blumenthal said. "Many of the jobs she's created at WWE have no health insurance, the wrestlers and others are hired as independent contractors." Blumenthal said the WWE is under investigation by the state for allegedly classifying wrestlers as independent contractors, denying health insurance benefits and dodging taxes. "Creating those kinds of jobs, without health insurance is certainly not something that I would brag about," he said.
Congressional summary: Increases the federal minimum wage for employees to:
Proponent's argument in favor (RaiseTheMinimumWage.com): The federal minimum wage of $7.25 per hour remains decades out of date, and the federal minimum wage for tipped workers--$2.13 per hour--has not increased in over 20 years. The minimum wage of the past provided significantly more buying power than it does today. The minimum wage of $1.60 an hour in 1968 would be $10.56 today when adjusted for inflation.
Opponent's argument against: (Neil King in Wall Street Journal, Feb. 24, 2014): The CBO concluded that a jump in the minimum wage to $10.10 an hour could eliminate 500,000 jobs. For Republicans, the report provided ammunition that a higher minimum wage would kill jobs. Democrats pointed to the CBO's findings that the higher wage would lift 900,000 people out of poverty. But both sides missed a key finding: That a smaller hike from the current $7.25 to $9.00 an hour would cause almost no pain, and still lift 300,000 people out of poverty while raising the incomes of 7.6 million people.Congressional Budget Office report:: Once fully implemented, the $10.10 option would reduce total employment by about 500,000 workers, or 0.3%. Some people earning slightly more than $10.10 would also have higher earnings, due to the heightened demand for goods and services. The increased earnings for low-wage workers would total $31 billion. Accounting for all increases and decreases, overall real income would rise by $2 billion.
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Retiring in 2014 election:
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Senate Votes (analysis)