In response to:

Myths We Live By

Arnold54 Wrote: Aug 01, 2012 2:46 PM
I heard a man who once lived in Texas about 15 years ago complain that he moved to the northeast from Texas because he was a trucker and saw his wages decline over several years from around $17/hr to $12/hr. The wages were being depressed by drivers from Mexico willing to work for cheap wages. He stated that with ordinary inflation he could no longer make ends meet doing that job, so he moved north, but is now encountering the same issue in New Jersey.

The Olympics have gone smoothly despite -- gasp! -- America's team wearing clothing made in China at the opening ceremony.

"I'm so upset," said Senate Majority Leader Harry Reid. "Take all the uniforms, put them in a big pile, and burn them. ... We have people in the textile industry who are desperate for jobs."

Here, Reid demonstrates economic cluelessness. It seems logical that Americans lose if American clothing is made overseas. But that's nonsense. First, it's no surprise the uniforms were made in China. Most clothing is. That's fine. It saves money. We invest the savings in other things,...