Hi bentway; Re: "Minimum wage workers spend every cent they make, which stimulates the real economy. Pay them a dollar more an hour, and they spend a dollar more an hour."
You're right so far, at least for the average minimum wage worker. But as usual, liberals don't think it through.
After the minimum wage is raised, some of the minimum wage earners lose their jobs. They quit stimulating the economy.
The basic liberal fallacy is the belief that a nation can be strong even though business has been made weak.
-- Carl
P.S. Since libs on the thread have recently been claiming Lincoln and the 19th century Republicans as one of their own, it's appropriate to quote him on the condition of people working for the 19th century equivalent of minimum wage::
The prudent, penniless beginner in the world, labors for wages awhile, saves a surplus with which to buy tools or land, for himself; then labors on his own account another while, and at length hires another new beginner to help him. This, say its advocates, is free labor -- the just and generous, and prosperous system, which opens the way for all -- gives hope to all, and energy, and progress, and improvement of condition to all. If any continue through life in the condition of the hired laborer, it is not the fault of the system, but because of either a dependent nature which prefers it, or improvidence, folly, or singular misfortune.
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abrahamlincolnonline.org
In the same speech, Lincoln makes a pretty good argument against the socialist / communist argument of "to each according to his needs":
Free Labor argues that, as the Author of man makes every individual with one head and one pair of hands, it was probably intended that heads and hands should cooperate as friends; and that that particular head, should direct and control that particular pair of hands. As each man has one mouth to be fed, and one pair of hands to furnish food, it was probably intended that that particular pair of hands should feed that particular mouth -- that each head is the natural guardian, director, and protector of the hands and mouth inseparably connected with it; and that being so, every head should be cultivated, and improved, by whatever will add to its capacity for performing its charge. In one word Free Labor insists on universal education.
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abrahamlincolnonline.org
Compare the above with Obama's liberal theme: "you did not create that!" |
