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Obama in 08'
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<blockquote data-quote="hoser" data-source="post: 160568" data-attributes="member: 6357"><p>minimum wage increases are <strong>bad</strong>. any unbaised economist (meaning that union "economists" <em>opinions</em> don't count) can tell you that. one reason is that it drives up inflation.</p><p>you make $1/hr minimum wage. that can pay your $100/month rent.</p><p>congress passes a minimum wage hike to $10/hr. now everyone's wage goes up, lowering the value of $1, appreciating the CPI, and now rent is now up to $1000/month.</p><p></p><p>now everyone can feel good about making $10/hr, and knowing that raising minimum wage is economic stupidity, they can spin it off for their political gain, being that 90% of americans never cracked open an economics textbook..</p><p></p><p>although it doesn't do full justice to what minimum wage can do (price ceilings, unemployment, high school drop out rates), this article makes good points that i learned in econ201:</p><p><a href="https://web.archive.org/web/20070809103210/http://www.ncpa.org/pub/ba/ba499/" target="_blank">https://web.archive.org/web/20070809103210/http://www.ncpa.org/pub/ba/ba499/</a></p></blockquote><p></p>
[QUOTE="hoser, post: 160568, member: 6357"] minimum wage increases are [B]bad[/B]. any unbaised economist (meaning that union "economists" [I]opinions[/I] don't count) can tell you that. one reason is that it drives up inflation. you make $1/hr minimum wage. that can pay your $100/month rent. congress passes a minimum wage hike to $10/hr. now everyone's wage goes up, lowering the value of $1, appreciating the CPI, and now rent is now up to $1000/month. now everyone can feel good about making $10/hr, and knowing that raising minimum wage is economic stupidity, they can spin it off for their political gain, being that 90% of americans never cracked open an economics textbook.. although it doesn't do full justice to what minimum wage can do (price ceilings, unemployment, high school drop out rates), this article makes good points that i learned in econ201: [url]https://web.archive.org/web/20070809103210/http://www.ncpa.org/pub/ba/ba499/[/url] [/QUOTE]
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