An attempt to quantify Obamacare’s impact on compensation at the lower end of the income distribution. This is based on the CBO’s estimate of a 1% reduction in labor compensation. For the years 2017-2024, that’s a cool $1 trillion, but the reduction in hours worked is expected to fall mostly on low earners. Obama thinks he can replace this lost income through an increased minimum wage (which will also put a up to 1 million out of work), an expanded EITC and other entitlements. Hold out that rice bowl.