Crocodile tears are flowing again for low-income people. In his State of the Union address, President Obama proposed raising the minimum wage from $7.25 to $9 an hour. A debate is shaping up between those who support the proposal and those who favor keeping the wage where it is today. But there are good grounds — for the sake of the poor — to repeal the minimum wage altogether.
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.
It's not rocket science to conclude that when prices rise, people adjust their behavior by purchasing less. But how about the price of labor?
The government’s goal is to “narrow the growing gap between the rich and the poor” by way of confiscating “more of the profits” of companies in order “to pay for ambitious welfare programs,” the Wall Street Journal recently reported.
Too many among today's intellectual elite see themselves as our shepherds and us as their sheep. Tragically, too many of us are apparently willing to be sheep, in exchange for being taken care of, being relieved of the burdens of adult responsibility and being supplied with "free" stuff paid for by others.