Government's Heavy Finger On The Scale

[PoliticalChic]

Please don't say that this is a free-market economy.
It is not.

Cynic that I am, most regulation of the market is designed as blackmail so that politicians can either strong-arm 'contributions' or agglomerate votes.

And that brings me to 'minimum wage.'



1. "Milton Friedman provides some critically clarifying truthiness on the unholy coalitions between 'do-gooders', 'special interests', 'trade unions', and the vicious circle that this non-market-based decision will create. "Do-Gooders believe passing a law saying nobody shall get less than [a minimum wage] is helping poor people (who need the money). You're doing nothing of the kind. What you're doing is to ensure that people whose skills do not justify that wage will be unemployed."
Milton Friedman On The Unholy Coalitions Of The Minimum Wage | Zero Hedge

2. On the regulatory front, the number of pages in the Federal Register dropped to less than 48,000 in 1986 from over 80,000 in 1980. With no increase in the minimum wage over his full eight years in office, the negative impact of this price floor on employment was lessened. Arthur B. Laffer: Reaganomics: What We Learned - WSJ.com





3. President Carter raised the minimum wage 46%:
"On this day [January 1st] in 1981, President Jimmy Carter signed legislation raising the federal minimum wage from $2.30 to $3.35 an hour." Carter raises minimum wage Jan. 1, 1981 - Andrew Glass - POLITICO.com

a. To view the numbers as 2013 values, Carter raised the minimum wage from $6.121, to $8.91.
DollarTimes.com | Inflation Calculator
Currently, it is $7.25
For the reasons stated by Friedman, Carter's increases exacerbated unemployment.

b. While most charts give Carter's unemployment data as starting and ending at 7.1%, "The problem with this graph is that it does not give a full picture of employment under Carter. Carter was the first President since FDR to adjust employment figures by removing the "chronically" un-employed from the employment roles.
Counting those, the figure "sky-rockets" in 1977 to 14.7%." RADAMISTO: UNEMPLOYMENT UNDER CARTER

4. "In the period between 1912 and 1920, 13 states and the District of Columbia had enacted minimum wage laws. However, the U.S. Supreme Court invalidated these statutes, holding them to be unconstitutional because they allegedly interfered with employers’ ability to negotiate wage contracts with their workers. The first effort to establish a national minimum wage came in 1933, when the National Industrial Recovery Act set a base wage a $0.25 an hour. In 1935, the Supreme Court declared the act unconstitutional." Carter raises minimum wage Jan. 1, 1981 - Andrew Glass - POLITICO.com





5. " Supporters of raising the minimum wage argue that workers can’t live off a federal minimum wage of $7.25 an hour, which translates into $15,080 per year for a full-time worker.
According to a study conducted by the conservative American Action Forum, increasing the minimum wage doesn’t fight poverty or close income gaps.





6. This past September, California Gov. Jerry Brown signed legislation that increased the state minimum from $8 to $10 per hour. And even more recently, SeaTac, Washington raised its minimum wage all the way to $15 per hour.
President Obama also endorsed the idea presented by some members of Congress to set a federal minimum wage to $10.10.

7. AAF’s research shows that the majority of people who live in poverty are not the ones earning a minimum wage salary.

In 2011, only 1.2 percent of people in families with incomes below the federal poverty line earned an hourly wage at or below $9 per hour and only 1.5 percent earned a wage at or below $10.10 per hour. Even among all those who work and are in poverty, only 28.5 percent earn $9 per hour or less and 36.2 percent earn $10.10 per hour or less.





8..... increases in minimum wage to $9 and $10.10 not only would fail to assist almost 99 percent of all people in poverty, but they would also neglect the vast majority of people in poverty who are actually working.
”Researchers found that the largest demographic of minimum wage earners are actually teenagers from middle-class families."

9. .... instead of fighting income inequality, an increase in the minimum wage may actually widen the income gap by limiting earnings from the unemployed and directing more money to the top 20 percent of earners.

10. According to the study, there is no statistical evidence that the minimum wage increases between 2003 and 2007 decreased state poverty rates. Researchers found that only 15.5 percent of the net benefits from raising the federal minimum wage to $7.25 went to workers living in poverty. They predicted that if the minimum wage were to rise to $9.50, a mere 10.5 percent of the net benefits would go to workers in poverty.
Study: minimum wage hike no anti-poverty measure | The Daily Caller




Seems that 'do-gooders' don't do any good.

 

[PoliticalChic]

1. Marx: From each according to his ability, to each according to his need (or needs).

a. Of course, different folks have different ‘needs,’ and who would not exaggerate his needs in order to gain more governmental largesse?


2. The devil, as usual, is in the details. The unspoken and unrecognized assumption is that there exists some mechanism that can distribute goods and services. The only such mechanism is, and must be, the totalitarian state.

a. To believe this, one must accept that there exists some equation by which the state can fairly and honestly control human exchange. Here we go: increasing taxes to increase programs to increase happiness to allow equality…all of which ends up in dictatorship.

b. There is the adolescent standing aside the street sweeper, who presents himself to government demanding compensation based on his needs, or his goodness, in equality to the physician…urging on him the courage to demand his equal pay! The Leftist has a simple prescription for the inequality of pay…you, the taxpayer, pay him more.

c. Marxism: tax the surgeon more so the good-willed other will feel momentarily better, implementing their vision of a perfect world, a Utopia.
Mamet,"The Secret Knowledge," ch 32.



And so it is with 'minimum wage' laws.

 

[PoliticalChic]

3. The adolescent, the Marxist, and the Liberal dream of “fairness,” brought about by the state.
Silly. This would mean usurping the society decision that the skilled worker is entitled to higher pay than the unskilled. This decision is never pronounced by any authority other than the free market.
It was arrived at via the interaction of human beings perfectly capable of ordering their own affairs.


a. The sentimental Leftist mutters that it’s a ‘shame’ that the street sweeper is ‘underpaid’…He could ameliorate the situation by digging into his pocket, but he will not: he wants government to do it. But, he won’t ask where government will get the money, or hold government responsible for the waste and chaos it caused in the enterprise.


b. The inexcusable failure of intellect of the Liberal is in attributing to bureaucrats the talents of wisdom, patience and the capability of all discernment, when history has never indicated same.
Where, one should ask, were officials actually able to determine solutions the ancient and heretofore ineradicable problems of unfairness, poverty, greed and envy?



4. If the Leftist is interested in a more ‘fair’ redistribution of wealth, let him vote for lower taxes, and then he can distribute his now larger share of his wealth to the lesser compensated folks.


a. Illustrative of reality is the fact that the Leftist refrains from paying above the stated price for goods and services…he wants, as everyone else does, competition between said services. Only then does he stand a chance of getting a “fair” price. In his own enterprise, he strives to improve quality or lower price…’else his potential customers will take their business to others.

Unless he has the power of government!
Ibid.

 

[PoliticalChic]

Somehow, for the sake of accruing votes, the politician suggests taking from those who have justly earned what they have....and simply take a cut, and give some to those who have not yet done the earning.



Heaven forfend suggesting 'work harder' or 'make better lifestyle decisions' or 'stay in school.'




One justification for taking from the 'wealthy' to give to the less wealthy is that the wealthy won't lose the desire to work hard due to the loss of his earnings....

“Just for fun, find a Marxist professor- who scoffs at the idea that people work less if they lose the incentive of money- how he would feel if his name were not put on the academic articles he published. Instead the articles would be published under the name of another academic who needed the recognition more than he did. After all…he would still have the satisfaction of having written the articles….His completely reasonable response would be that he earned’ the right to have his name on those articles, and denying him that measure of earned success is viciously unfair. Exactly.”
Arthur Brooks, “The Road to Freedom,” p. 26.

 

[rdean]

Republicans think education is for snobs.

It costs the nation billions helping those on minimum wage. Insurance, for example.

 

[PoliticalChic]

Republicans think education is for snobs.

It costs the nation billions helping those on minimum wage. Insurance, for example.

Hi, deanie.....

Hey....how did you like that post where I took your 'Republicans want you to die' and I showed how Democrats actually said that that was exactly what they wanted.

Wasn't that fun?





Now this blather: "Republicans think education is for snobs."

I hope that by "education" you don't mean what the Liberal educrats do to our children in government schools.....

....with this result:

"Are America's students falling behind the world?"
Are America's students falling behind the world? - latimes.com



You see, deanie.....Democrat/Liberal/Progressive policies that stress self-esteem over actual learning have destroyed public education.




Let's put conservatives in charge so we have fact-based curricula rather than some bogus 'social justice' bloviations.

Don't you agree?

 

[Publius1787]

Please don't say that this is a free-market economy.
It is not.

Cynic that I am, most regulation of the market is designed as blackmail so that politicians can either strong-arm 'contributions' or agglomerate votes.

And that brings me to 'minimum wage.'



1. "Milton Friedman provides some critically clarifying truthiness on the unholy coalitions between 'do-gooders', 'special interests', 'trade unions', and the vicious circle that this non-market-based decision will create. "Do-Gooders believe passing a law saying nobody shall get less than [a minimum wage] is helping poor people (who need the money). You're doing nothing of the kind. What you're doing is to ensure that people whose skills do not justify that wage will be unemployed."
Milton Friedman On The Unholy Coalitions Of The Minimum Wage | Zero Hedge

2. On the regulatory front, the number of pages in the Federal Register dropped to less than 48,000 in 1986 from over 80,000 in 1980. With no increase in the minimum wage over his full eight years in office, the negative impact of this price floor on employment was lessened. Arthur B. Laffer: Reaganomics: What We Learned - WSJ.com





3. President Carter raised the minimum wage 46%:
"On this day [January 1st] in 1981, President Jimmy Carter signed legislation raising the federal minimum wage from $2.30 to $3.35 an hour." Carter raises minimum wage Jan. 1, 1981 - Andrew Glass - POLITICO.com

a. To view the numbers as 2013 values, Carter raised the minimum wage from $6.121, to $8.91.
DollarTimes.com | Inflation Calculator
Currently, it is $7.25
For the reasons stated by Friedman, Carter's increases exacerbated unemployment.

b. While most charts give Carter's unemployment data as starting and ending at 7.1%, "The problem with this graph is that it does not give a full picture of employment under Carter. Carter was the first President since FDR to adjust employment figures by removing the "chronically" un-employed from the employment roles.
Counting those, the figure "sky-rockets" in 1977 to 14.7%." RADAMISTO: UNEMPLOYMENT UNDER CARTER

4. "In the period between 1912 and 1920, 13 states and the District of Columbia had enacted minimum wage laws. However, the U.S. Supreme Court invalidated these statutes, holding them to be unconstitutional because they allegedly interfered with employers’ ability to negotiate wage contracts with their workers. The first effort to establish a national minimum wage came in 1933, when the National Industrial Recovery Act set a base wage a $0.25 an hour. In 1935, the Supreme Court declared the act unconstitutional." Carter raises minimum wage Jan. 1, 1981 - Andrew Glass - POLITICO.com





5. " Supporters of raising the minimum wage argue that workers can’t live off a federal minimum wage of $7.25 an hour, which translates into $15,080 per year for a full-time worker.
According to a study conducted by the conservative American Action Forum, increasing the minimum wage doesn’t fight poverty or close income gaps.





6. This past September, California Gov. Jerry Brown signed legislation that increased the state minimum from $8 to $10 per hour. And even more recently, SeaTac, Washington raised its minimum wage all the way to $15 per hour.
President Obama also endorsed the idea presented by some members of Congress to set a federal minimum wage to $10.10.

7. AAF’s research shows that the majority of people who live in poverty are not the ones earning a minimum wage salary.

In 2011, only 1.2 percent of people in families with incomes below the federal poverty line earned an hourly wage at or below $9 per hour and only 1.5 percent earned a wage at or below $10.10 per hour. Even among all those who work and are in poverty, only 28.5 percent earn $9 per hour or less and 36.2 percent earn $10.10 per hour or less.





8..... increases in minimum wage to $9 and $10.10 not only would fail to assist almost 99 percent of all people in poverty, but they would also neglect the vast majority of people in poverty who are actually working.
”Researchers found that the largest demographic of minimum wage earners are actually teenagers from middle-class families."

9. .... instead of fighting income inequality, an increase in the minimum wage may actually widen the income gap by limiting earnings from the unemployed and directing more money to the top 20 percent of earners.

10. According to the study, there is no statistical evidence that the minimum wage increases between 2003 and 2007 decreased state poverty rates. Researchers found that only 15.5 percent of the net benefits from raising the federal minimum wage to $7.25 went to workers living in poverty. They predicted that if the minimum wage were to rise to $9.50, a mere 10.5 percent of the net benefits would go to workers in poverty.
Study: minimum wage hike no anti-poverty measure | The Daily Caller




Seems that 'do-gooders' don't do any good.

Tell me what you think of this http://www.usmessageboard.com/economy/329391-the-fallacy-of-the-living-minimum-wage.html

 

[PoliticalChic]

Please don't say that this is a free-market economy.
It is not.

Cynic that I am, most regulation of the market is designed as blackmail so that politicians can either strong-arm 'contributions' or agglomerate votes.

And that brings me to 'minimum wage.'



1. "Milton Friedman provides some critically clarifying truthiness on the unholy coalitions between 'do-gooders', 'special interests', 'trade unions', and the vicious circle that this non-market-based decision will create. "Do-Gooders believe passing a law saying nobody shall get less than [a minimum wage] is helping poor people (who need the money). You're doing nothing of the kind. What you're doing is to ensure that people whose skills do not justify that wage will be unemployed."
Milton Friedman On The Unholy Coalitions Of The Minimum Wage | Zero Hedge

2. On the regulatory front, the number of pages in the Federal Register dropped to less than 48,000 in 1986 from over 80,000 in 1980. With no increase in the minimum wage over his full eight years in office, the negative impact of this price floor on employment was lessened. Arthur B. Laffer: Reaganomics: What We Learned - WSJ.com





3. President Carter raised the minimum wage 46%:
"On this day [January 1st] in 1981, President Jimmy Carter signed legislation raising the federal minimum wage from $2.30 to $3.35 an hour." Carter raises minimum wage Jan. 1, 1981 - Andrew Glass - POLITICO.com

a. To view the numbers as 2013 values, Carter raised the minimum wage from $6.121, to $8.91.
DollarTimes.com | Inflation Calculator
Currently, it is $7.25
For the reasons stated by Friedman, Carter's increases exacerbated unemployment.

b. While most charts give Carter's unemployment data as starting and ending at 7.1%, "The problem with this graph is that it does not give a full picture of employment under Carter. Carter was the first President since FDR to adjust employment figures by removing the "chronically" un-employed from the employment roles.
Counting those, the figure "sky-rockets" in 1977 to 14.7%." RADAMISTO: UNEMPLOYMENT UNDER CARTER

4. "In the period between 1912 and 1920, 13 states and the District of Columbia had enacted minimum wage laws. However, the U.S. Supreme Court invalidated these statutes, holding them to be unconstitutional because they allegedly interfered with employers’ ability to negotiate wage contracts with their workers. The first effort to establish a national minimum wage came in 1933, when the National Industrial Recovery Act set a base wage a $0.25 an hour. In 1935, the Supreme Court declared the act unconstitutional." Carter raises minimum wage Jan. 1, 1981 - Andrew Glass - POLITICO.com





5. " Supporters of raising the minimum wage argue that workers can’t live off a federal minimum wage of $7.25 an hour, which translates into $15,080 per year for a full-time worker.
According to a study conducted by the conservative American Action Forum, increasing the minimum wage doesn’t fight poverty or close income gaps.





6. This past September, California Gov. Jerry Brown signed legislation that increased the state minimum from $8 to $10 per hour. And even more recently, SeaTac, Washington raised its minimum wage all the way to $15 per hour.
President Obama also endorsed the idea presented by some members of Congress to set a federal minimum wage to $10.10.

7. AAF’s research shows that the majority of people who live in poverty are not the ones earning a minimum wage salary.

In 2011, only 1.2 percent of people in families with incomes below the federal poverty line earned an hourly wage at or below $9 per hour and only 1.5 percent earned a wage at or below $10.10 per hour. Even among all those who work and are in poverty, only 28.5 percent earn $9 per hour or less and 36.2 percent earn $10.10 per hour or less.





8..... increases in minimum wage to $9 and $10.10 not only would fail to assist almost 99 percent of all people in poverty, but they would also neglect the vast majority of people in poverty who are actually working.
”Researchers found that the largest demographic of minimum wage earners are actually teenagers from middle-class families."

9. .... instead of fighting income inequality, an increase in the minimum wage may actually widen the income gap by limiting earnings from the unemployed and directing more money to the top 20 percent of earners.

10. According to the study, there is no statistical evidence that the minimum wage increases between 2003 and 2007 decreased state poverty rates. Researchers found that only 15.5 percent of the net benefits from raising the federal minimum wage to $7.25 went to workers living in poverty. They predicted that if the minimum wage were to rise to $9.50, a mere 10.5 percent of the net benefits would go to workers in poverty.
Study: minimum wage hike no anti-poverty measure | The Daily Caller




Seems that 'do-gooders' don't do any good.

Tell me what you think of this http://www.usmessageboard.com/economy/329391-the-fallacy-of-the-living-minimum-wage.html

Yeah....I'd say that your thesis would be true.....

....and you should add one more thing:

In a very short time, there would be a clamor from the same Leftists as are doing so today....to raise whatever that minimum is.

 

[Publius1787]

Please don't say that this is a free-market economy.
It is not.

Cynic that I am, most regulation of the market is designed as blackmail so that politicians can either strong-arm 'contributions' or agglomerate votes.

And that brings me to 'minimum wage.'



1. "Milton Friedman provides some critically clarifying truthiness on the unholy coalitions between 'do-gooders', 'special interests', 'trade unions', and the vicious circle that this non-market-based decision will create. "Do-Gooders believe passing a law saying nobody shall get less than [a minimum wage] is helping poor people (who need the money). You're doing nothing of the kind. What you're doing is to ensure that people whose skills do not justify that wage will be unemployed."
Milton Friedman On The Unholy Coalitions Of The Minimum Wage | Zero Hedge

2. On the regulatory front, the number of pages in the Federal Register dropped to less than 48,000 in 1986 from over 80,000 in 1980. With no increase in the minimum wage over his full eight years in office, the negative impact of this price floor on employment was lessened. Arthur B. Laffer: Reaganomics: What We Learned - WSJ.com





3. President Carter raised the minimum wage 46%:
"On this day [January 1st] in 1981, President Jimmy Carter signed legislation raising the federal minimum wage from $2.30 to $3.35 an hour." Carter raises minimum wage Jan. 1, 1981 - Andrew Glass - POLITICO.com

a. To view the numbers as 2013 values, Carter raised the minimum wage from $6.121, to $8.91.
DollarTimes.com | Inflation Calculator
Currently, it is $7.25
For the reasons stated by Friedman, Carter's increases exacerbated unemployment.

b. While most charts give Carter's unemployment data as starting and ending at 7.1%, "The problem with this graph is that it does not give a full picture of employment under Carter. Carter was the first President since FDR to adjust employment figures by removing the "chronically" un-employed from the employment roles.
Counting those, the figure "sky-rockets" in 1977 to 14.7%." RADAMISTO: UNEMPLOYMENT UNDER CARTER

4. "In the period between 1912 and 1920, 13 states and the District of Columbia had enacted minimum wage laws. However, the U.S. Supreme Court invalidated these statutes, holding them to be unconstitutional because they allegedly interfered with employers’ ability to negotiate wage contracts with their workers. The first effort to establish a national minimum wage came in 1933, when the National Industrial Recovery Act set a base wage a $0.25 an hour. In 1935, the Supreme Court declared the act unconstitutional." Carter raises minimum wage Jan. 1, 1981 - Andrew Glass - POLITICO.com





5. " Supporters of raising the minimum wage argue that workers can’t live off a federal minimum wage of $7.25 an hour, which translates into $15,080 per year for a full-time worker.
According to a study conducted by the conservative American Action Forum, increasing the minimum wage doesn’t fight poverty or close income gaps.





6. This past September, California Gov. Jerry Brown signed legislation that increased the state minimum from $8 to $10 per hour. And even more recently, SeaTac, Washington raised its minimum wage all the way to $15 per hour.
President Obama also endorsed the idea presented by some members of Congress to set a federal minimum wage to $10.10.

7. AAF’s research shows that the majority of people who live in poverty are not the ones earning a minimum wage salary.

In 2011, only 1.2 percent of people in families with incomes below the federal poverty line earned an hourly wage at or below $9 per hour and only 1.5 percent earned a wage at or below $10.10 per hour. Even among all those who work and are in poverty, only 28.5 percent earn $9 per hour or less and 36.2 percent earn $10.10 per hour or less.





8..... increases in minimum wage to $9 and $10.10 not only would fail to assist almost 99 percent of all people in poverty, but they would also neglect the vast majority of people in poverty who are actually working.
”Researchers found that the largest demographic of minimum wage earners are actually teenagers from middle-class families."

9. .... instead of fighting income inequality, an increase in the minimum wage may actually widen the income gap by limiting earnings from the unemployed and directing more money to the top 20 percent of earners.

10. According to the study, there is no statistical evidence that the minimum wage increases between 2003 and 2007 decreased state poverty rates. Researchers found that only 15.5 percent of the net benefits from raising the federal minimum wage to $7.25 went to workers living in poverty. They predicted that if the minimum wage were to rise to $9.50, a mere 10.5 percent of the net benefits would go to workers in poverty.
Study: minimum wage hike no anti-poverty measure | The Daily Caller




Seems that 'do-gooders' don't do any good.

Tell me what you think of this http://www.usmessageboard.com/economy/329391-the-fallacy-of-the-living-minimum-wage.html

Yeah....I'd say that your thesis would be true.....

....and you should add one more thing:

In a very short time, there would be a clamor from the same Leftists as are doing so today....to raise whatever that minimum is.

No one ever bothers to ask, "What happens next."

 

[PoliticalChic]

Tell me what you think of this http://www.usmessageboard.com/economy/329391-the-fallacy-of-the-living-minimum-wage.html

Yeah....I'd say that your thesis would be true.....

....and you should add one more thing:

In a very short time, there would be a clamor from the same Leftists as are doing so today....to raise whatever that minimum is.

No one ever bothers to ask, "What happens next."

Certainly not the Left.


Dr. Sowell wrote about this in "Applied Economics: Thinking Beyond Stage One" in which he challenges individuals to analyze not only their short term (Stage One) impact but to also think ahead to their long term (Stage Two, Three, etc) impact.

Politicians do not think beyond Stage One because they will be praised (and elected) for the short term benefits but will not be held accountable much later when the long term consequences appear.

 

[PoliticalChic]

Tell me what you think of this http://www.usmessageboard.com/economy/329391-the-fallacy-of-the-living-minimum-wage.html

Yeah....I'd say that your thesis would be true.....

....and you should add one more thing:

In a very short time, there would be a clamor from the same Leftists as are doing so today....to raise whatever that minimum is.

No one ever bothers to ask, "What happens next."

This guy does:


"What if everyone starts off with the same amount of money?

1. “…. by the end of the first year, some people will have more than others. Guaranteed. Some people, you see, will be careful with what they have. Others won’t. Some people will gamble, others will save. Some will spend lavishly, others will be frugal.

2. Besides that, some people simply have more of the kind of wealth that can’t be redistributed. Intelligence; education; ambition. Drive, as opposed to: aw, we’re gonna get what we’re gonna get anyway, so let’s just stay on the couch and watch TV. Some people will put a little giddy-up in their get-alongs, and will find ways to improve their own lives.


... by the end of the very first year (not to mention the first five or ten) “haves” and “have-nots” will appear.


...return to economic inequity will happen, I daresay, even under the strictest Communist policies.


3. ... discrepancies will widen. A middle class will form. An upper economic class, and a lower economic class. These classes will not be dead ends: people will be able to move from one to another and back again. But they’ll reappear, despite the original, radical redistribution of wealth.

4. ... let’s redistribute every year. Every April 23 – Michael Moore’s birthday – all wealth is redistributed. All wages set by Central Command. Everyone is as equal as it’s possible to make them. Even individual advantages are nullified.

... that system does away with any incentive to create. It removes any incentive to save; to be frugal; to work hard. Because no matter what you do, what you get is predetermined.
And yet, by April 22 of the following year, some people will still have more than others. And they’ll keep it.


5. .... state-enforced economic “equality” did not – cannot – make everyone “equal.” It can only change the attributes that are most important to getting ahead.
Sucking up to your superiors becomes more important than working hard.Figuring out which bureaucrats can do the most for you, and ingratiating yourself to them.
Using the power of government to get you ahead, instead of creating, making, building, selling. Improving technical or academic skills? What for? Improving political skills. That’s what makes a difference.

6. ... becoming a “have” in our society requires entering the bureaucracy, or getting the bureaucracy on your side.
Even the hard working entrepreneurs and innovators among us increasingly need the bureaucracy’s help. Vast mazes of regulations give bureaucracies vast power over both you and your competitors. Government can make or break an industry. Make or break a company. It can increase the cost of entry beyond plausibility, or it can make that cost go away.


7. In the free market, wealth comes from work. The closer we move toward socialism, the more wealth comes from power. That’s the difference. The similarity: wealth still exists in relatively few hands.”
What if we just gave everybody the same amount of wealth? | Right Wing News




Pretty good?

 

[jwoodie]

Ironically, the only way we have to deal with our $17+ trillion debt may be inflation. Raising the minimum wage does that quite well.