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Wednesday

28

June 2006

Sound Economics Just “Mumbo Jumbo” To Dean

Written by , Posted in Economics & the Economy

Howard “I have a scream” Dean is out spreading the populist message of class warfare, as usual. This time his assault on intelligence comes in the way of denying the impacts of minimum wage laws.

“This is a moral nation, so the first thing we must do is convince people that poverty is a moral problem,” Mr. Dean said. “It is a moral principle to raise the minimum wage. It is nothing but economist mumbo jumbo to say raising it will hurt jobs.”

Let’s not beat around the bush here, Howard Dean is an idiot. Understanding the impacts of minimum wage laws is not that difficult. Some workers, often teenagers or first time workers, have low productivity. This is a simple fact. If a worker is worth $6 an hour and the government says you have to pay that worker $8 an hour, you aren’t going to hire that worker. Minimum wage laws always result in high unemployment of youth and low skilled labor. Unless we want a repeat of the civil unrest seen in France, we need to keep Howard Dean and his ignorant party out of power.