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

1. “Report says wage hike could cost 500k jobs, put Dems on defensive” BY: Alan Fram Presenter: Ajaypaul Dhillon

2. Overview • Summarize: Key points • Utilitarian Approach • Alternative Decision • Duty-Base Approach • Kant's Second Imperative • Virtue-Base Approach • Solution • Video

3. Summary • Cost a half-million job • Increase more than 16.5 million peoples pay • Lift 900,000 people over the federal poverty threshold.

4. 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…”

5. What would a consequentialist do? Support minimum wage

6. 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

7. 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.; they’re 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.

8. Duty-Based Ethics

9. 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.

10. Virtue-Based Ethic

11. Solution #1

12. 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

13. Solution #3 People can work less.

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

15. 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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