Mayor Bloomberg Veto’s Bill That Would’ve Raise Minimum Wage And Calls It Communism
Michael Bloomberg axed the Prevailing Wage bill last week and vowed to veto the Living Wage bill if passed by the City Council.
“Let them eat cake!”
That’s the message Mayor Bloomberg sent New Yorkers with his veto of the Prevailing Wage bill last Wednesday.
With little patience for any measure that could put even the smallest dent in the private sector’s bottom line, Bloomberg has also promised to veto the Living Wage bill.
“By vetoing this legislation, the administration has turned a blind-eye to the suffering of New York residents who are in desperate need of wage-relief,” said Assemblywoman Linda Rosenthal (D-Manhattan).
Actually income inequality is out of control in Bloomberg’s New York with more than 40% of all income in the city going to 1% of the population.
“The last time we really had a big managed economy was the USSR and that didn’t work out so well,” said Michael Bloomberg, “You cannot stop the tides from coming in.”
City Council Speaker Christine Quinn announced a watered down deal on the living wage agreement Wednesday, which will require businesses receiving $1 million or more in city subsidies and earning more than $5 million a year in revenue to pay their workers at least $11.50 an hour, or $10 with benefits.
Quinn called the bill “the most impactful living-wage law in the United States,” according to Capital New York. After some businesses were exempted from the measure, however, experts say it will effect roughly only 500 New Yorkers.
And yet, Bloomberg has vowed to veto the bill.