The Times reported on the CBO report that came out this week indicating that if the minimum wage was raised $2.85 to $10.10, 900,000 people would rise out of poverty. That’s the good news, the bad news is 500,000 people would
jobs… er, I mean be free to become
A popular Democratic proposal to raise the minimum wage to $10.10 an hour, championed by President Obama, could reduce total employment by 500,000 workers by the second half of 2016. But it would also lift 900,000 families out of poverty and increase the incomes of 16.5 million low-wage workers in an average week.
I am simply amazed at just how jaw-droppingly naive they continue to be. It is simply beyond their capacity to learn from their past mistakes. Whether its health care, energy, education and in this case labor, democrats refuse to acknowledge that there are market pressures that just cannot be controlled by a centralized government. Every time the government subverts the free-market, unintended consequences always occur. And if I’m one of the 900,000 folks who get lifted out of poverty woo hoo for me, the problem is that my moving our of poverty is at the expense of a half of a million folks’ employment
This, in a nutshell, is the problem. In the liberal mind, there are no consequences to their nonsense. They raise the minimum wage; get koodos from the left, then through their incompetence create 500,000 brand new welfare recipients that, lo and behold, need welfare. Therefore, they have to raise taxes to take care of these folks, which create an issue for the lower income level, which means we have to raise the minimum wage again because nobody can live on $10.10/hr now so we gotta raise the minimum wage. Then rinse and repeat.
Homework assignment: Tell you what; ask any of your liberal friends - “why stop at $10.10/hr? You can’t raise a family on that, hell let’s make it $50/hr or even $100/hr. Then sit back and watch as they tie themselves in knots trying to defend an arbitrary $10.10/hr. It’s like being a little bit pregnant. Either you are all in on the income equality nonsense or you’re not. There is no middle ground.