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median income up, gdp, federal budget deficit is down. speak up median household incomes have dropped. individual i think is what i m looking at here. he talked about the auto industry. are those legitimate claims? i don t know. not a good time to get a car. are you kidding me? we ve been exporting america. jobs leaving come up money leaving, corporations leaving because this has been a hostile environment, overly regulated, overly taxed, and we are like the third-highest in corporate income tax rate in the world, okay? 38.92%. this is not anything that is encouraging people to do business here. that is part of the reason why donald trump was elected, when you look at the exit polls, people talked about the economy, jobs, having money in their pockets and wallets and not being apprehensive about the future and about the direction of this country.
celebrating yet. they won t stop until they get $15 in 2015. unions if they get their way what will it mean for businesses? minimum wage destroys jobs. that s what the labor department says in the 1930s when the first minimum wage was enacted. george bush raised the minimum wage in the latter half of his presidency you saw the youth participation rate in this economy go down and down and down. the reason union for it not because they make minimum wage often times their wages are linked to minimum wage. as usual, can t compete in a free market. so they use government force to try to enact their way. kennedy heritage, the signal part of the heritage, one said the son of a baconator combo in unions got their way from $6.49 to $8.92. an outrage. for the unions law of unintended consequences. the problem, keep a lot of
president is not fa favorite of refighting this fight. we know the how republicans pushed think a so i suspect this will be an issue that democrats and republicans will continue to fight about. kyra? president obama doesn t just have to deal with the job loss, but also the kind of jobs being created. tell us about that. yeah, this is really a fascinating story that s up on cnnmoney.com written by chris isadora. there s been a lot of talk about how many jobs have been lost. the obama administration democrats are talking about jobs they have creted since the recession. the fact of the matter is what kinds of jobs have they created? not great news according to a new study. in fact 76% of jobs created in the first seven months of 2010 were in low to mid-wage industries. that s basically people who earn between $8.92 and $15 an hour.