Step right up, ladies and gentleman, and watch the Amazing Hussein make one-sixth of the American economy disappear! Now you see ObamaCare…
Now you don’t!
The growing gap between rich and poor Americans is threatening the ideals the country was founded upon, President Barack Obama said in remarks Wednesday that appeared to signal a leftward turn in his economic agenda.
Making sure that the U.S. economy works for every working American is “the defining challenge of our time,” Obama said in a speech at the Center for American Progress, a liberal think tank. He later said the “dangerous and growing” income and opportunity gap is jeopardizing the notion that if people work hard, they can get ahead.
Thank the lord we have a new president to reverse this “dangerous and growing” calamity! Oh wait. Isn’t it amazing how The Amazing Hussein can summon the wraith of George Bush to obscure the myriad failures of his regime? Amazing.
To combat the chasm between haves and have-nots, Obama called for a hike in the federal minimum wage, saying an increase is a good step for families and the economy as a whole.
Democrats on Capitol Hill have pushed for an increase in the federal minimum wage, which currently stands at $7.25 an hour. A proposal would boost it to about $10, and the White House has said Obama supports such a measure.
That extra $20 a day will make millionaires of every American. Porterhouse for all! Moet for the house!
I used to oppose knee-jerk hikes in the minimum wage (after supporting them). But now I’m back on board. Sure, there’s a direct link between minimum wage hikes and unemployment—stretched business owners can’t just “make it rain”, tossing cash in the air like confetti—but I’m tired of leftist weenies like the namesake of Obamacare getting all the joy out of grandstanding on the issue.
Take your $10 an hour and shove it up your backside! Give me a Grant or give me death!
I recall a great moment on Rush Limbaugh this summer: [I necessarily edited this to add coherence to the caller’s point.]
CALLER: This is Sean in San Diego, and I believe those workers at McDonald’s and Burger King deserve some more money. The shareholders are getting rich. I watch every day on MarketWatch, and the CEO is getting rich. They’re making their profits. They can afford to pair their workers a bit more money. They’re not asking for much. They haven’t had a raise in 25 years.
RUSH: Really? In 1988, people at McDonald’s were making $7.25 an hour?
CALLER: I’m not exactly sure of that, but —
RUSH: Well, that would be important.
CALLER: They’re not being paid fairly, Rush.
RUSH: Why can’t they [get a job that does pay]?
CALLER: Probably no other jobs out there in this bad economy.
RUSH: Why? Why aren’t there any jobs out there?
CALLER: The Democrats have destroyed this economy. We all know that.
RUSH: Okay. Well, the minimum wage, by the way, back 25 years ago was $3.35 an hour, just to get the number out there. It was not what they’re making today. I’ll get the inflation calculator out and take a look at it. They’re asking for double their current wages. Sean, why doesn’t the McDonald’s franchise just pay it? You know, why not just give them more money?
CALLER: Oh, that’s simple. Greed.
RUSH: Greed? Or is it competition?
CALLER: Why should they if they don’t have to and nobody’s making them? Government sets the minimum wage, and they don’t want to do it.
RUSH: Well, okay. Let’s take a look McDonald’s, and let’s say the McDonald’s gives their employees a raise. Let’s just say $10 dollars an hour. Would that be enough?
CALLER: No. I don’t think so.
RUSH: How about this? How about McDonald’s raises everybody to $20 an hour? Would that be enough? Would that be okay?
CALLER: I think that would probably help a lot of people.
RUSH: What about $25 an hour?
CALLER: Managers should probably get at least that. They probably already do.
RUSH: Okay, then what about $30 an hour?
CALLER: If that’s the fair market rate.
RUSH: Well, no, that’s what $7.25 is.
CALLER: I don’t believe that.
RUSH: Yeah, that’s why it’s $7.25. It’s the fair market rate. It’s $7.25 not because it’s temporary. That’s the fair market rate. Let’s pay ‘em $50 an hour, how about that?
CALLER: $15 an hour.
RUSH: No, $50.
RUSH: Five-oh, $50 an hour. How about that?
CALLER: Yeah. That should be the new fair market rate.
RUSH: Right on. Right? Well, let’s keep going, how about $75 an hour, let’s pay ‘em $75 an hour.
CALLER: Where you going with this?
Finally! It took how long for Sean from San Diego to get Rush’s point?
Except he doesn’t!
RUSH: Well, I want to know whether you agree with $75. I’m not going anywhere with it. If $50 is good, $60 would be better, right?
CALLER: Well, yeah.
RUSH: What about $75 an hour?
CALLER: Where you going with this, though? I don’t understand.
Coulda fooled me. But Rush is kinder than I am:
RUSH: Sean? Sean, one thing. I’m not trying to trick you. I’m not playing a trick on you here. Please don’t misunderstand. I’m not taking you anywhere. I don’t want you misunderstand.
The point, Sean, is that you just said that $7.25 isn’t the market price, and it is. That $7.25 an hour is what it requires for McDonald’s to be fully staffed. There are people who will work for that, and therefore that sets the wage scale. Now, $10 would be better.
Yeah, you can keep raising it, but at some point, everybody who believes in a minimum wage will say, “No, wait a minute. That’s too much,” and at that point, you have demonstrated that that there’s no market relationship. You’re just talking emotion. You’re just talking “fairness.” You’re just talking being nice, and that’s not how the market works. People aren’t paid a wage because they’re being nice to, or because it’s fair. In the market, the market rules. You can control it all you want, you could add arbitrary numbers on it all you want, and all you’re doing is delaying the inevitable.
The market will always win and will always rule, because it is the market.
The Amazing Hussein now stands naked before us, and considerably less well-endowed than Piers Morgan thinks he is.