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A Minority View: Higher Minimum Wage

tgwWhale Wrote: Feb 27, 2013 9:41 AM
BO, or at least some of his gang, know that raising the minimum wage would depress employment. But they deem it to be good politics, and that is what matters to them. To BO and to progs in general, EVERYTHING IS POLITICS. So economics is politics (e.g., minimum wage), science is politics (e.g., AGW), etc., etc., etc., etc., ad infinitum. Dr. Williams is 100% right in this article. But BO and his prog cronies don give a rat's patootie about economics. It's all politics; politics are all that matters.

In his State of the Union address, President Barack Obama proposed raising the minimum wage from $7.25 an hour to $9 an hour. That would be almost a 25 percent increase. Let's look at the president's proposal, but before doing so, let's ask some other economic questions.

Are people responsive to changes in price? For example, if the price of cars rose by 25 percent, would people purchase as many cars? Supposing housing prices rose by 25 percent, what would happen to sales? Those are big-ticket items, but what about smaller-priced items? If a supermarket raised its prices by 25 percent,...