Mayor Bloomberg Compares Living Wage Bill To Soviet Communism
On his regular appearance on WORS radio, Bloomberg said, "The last time we really had a big managed economy was the USSR and that didn't work out so well," adding, "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.