I heard that yesterday. The caller was a complete idiot............
The caller was too dense to realize that ANY minimum wage is artificially created.
Rush should also have asked him, “Now that we’ve established a fair wage, what do you think is a fair price for the food?”
Forced arbitrary minimum wage increases will never bring a liveable wage to those who have minimum wage jobs, and will only serve to put them further into poverty as prices are forced to increase by the actions of a control-freak government. The outcome of forced wage increases is to jack up the cost of living for everyone, especially those receiving “benefit” of the higher forced wage increase.
The thing thats wrong with $1000/hr is what’s wrong with $15/hr, just more so.
As ususal...Rush is Right On!
I don’t know why some so-called conservatives bash Rush, because he NAILS it perfectly here! What a great illustration of what’s wrong.
Wish I’d have been listening yesterday. The libs are bed-wetting all over this fifteen dollar an hour protests. Fantasy World. Utopia. They don’t understand. Just raise the price. Well, then that 15.00 doesn’t buy that much more than 7.25 with that sort of thinking. Idiots they are. Emotion only.
Scouts Out! Cavalry Ho!
Wait til the amnesty folks work at McD’s for $5/hr...
The purpose of minimum-wage laws is to price entry level workers out of the job market so that union thugs get those jobs.
The last year in which the black unemployment rate was lower than the white unemployment rate was 1930. That was also the last year in which there was no federal minimum wage law.
The Davis-Bacon Act of 1931 was in part a result of a series of incidents in which non-union black construction labor enabled various contractors from the South to underbid Northern contractors who used white, unionized construction labor.
The Davis-Bacon Act required that “prevailing wages” be paid on government construction projects– “prevailing wages” almost always meaning in practice union wages. Since blacks were kept out of construction unions then, and for decades thereafter, many black construction workers lost their jobs.
Minimum wages were required more broadly under the National Industrial Recovery Act of 1933 and under the Fair Labor Standards Act of 1938, with negative consequences for black employment across a much wider range of industries.
In recent times, we have gotten so used to young blacks having sky-high unemployment rates that it will be a shock to many readers of Walter Williams’ “Race and Economics” to discover that the unemployment rate of young blacks was once only a fraction of what it has been in recent decades. And, in earlier times, it was not very different from the unemployment rate of young whites.
An interesting thing about minimum wage is that the businesses that support an area automatically adjust their prices to changes in the wage.
For example, say the minimum wage is $10/hr. A (before Obamacare) employee worked an 80 work week, making $400, or $1600 a month. Half of that amount, $800, goes to federal, state and local taxes.
An apartment rental in such a situation fits the market, taking about half that employees net income, or $400, leaving them with $400 to buy food, clothing, fuel, car insurance, maintenance and everything else.
Let’s assume the minimum wage is raised to $20/hr. The same employee would supposedly make $3200 a month, with $1600 going for taxes.
But market forces would likely also double the price of his apartment, to $800. All other prices of *necessities* would also rise, if not double.
He could very well end up with *less* net income.
Now enter Obamacare. Instead of one 80 hour a week job, he needs to have two 28 hour a week jobs. But that is only 56 hours. Very few people indeed can handle three jobs at the same time.
So not only are they earning less money, but they will likely have to pay the government a penalty tax for their “free healthcare”.
So the poor are hurt the most by Democrats.