Wednesday, July 22, 2015

Bernie Sanders Calls for More Black Teenage Unemployment

Well, he didn't put it exactly this way, but that would be the result of his latest proposal.

Speaking before hundreds of striking federal contract workers outside the Capitol, Senator Bernie Sanders of Vermont unveiled legislation Wednesday that would raise the national minimum wage to $15 an hour, NYT reports.

Even Hillary is better on this issue. NYT informs:
Hillary Rodham Clinton, Mr. Sanders’s main rival for the nomination, has been more reticent in endorsing the $15-an-hour minimum wage, even as she has indicated some support for the effort.
And never forget Paul Krugman knows the real result of higher minimum wage laws. He wrote:
 The living wage movement is simply a move to raise minimum wages through local action. So what are the effects of increasing minimum wages? Any Econ 101 student can tell you the answer: The higher wage reduces the quantity of labor demanded, and hence leads to unemployment.

Arthur Laffer, who is shaky on a lot of issues, got it  right on the minimum wage, during an appearance last year on FOX.


No comments:

Post a Comment