Begging For A Catastophe

I can see why the likes of Tide Pod Evita and Ilhan Omar prate and gabble on about minimum wage increase. It’ll never cost any of them anything.

But when I hear Gen-Y and younger people yapping about it, I am almost tempted to ask – have any of you actually thought about this…

…and then I remember.- nobody’s taught critical thought in decades. It’s why the Democrats bounced back after the nineties.

Anyway – it turns out the actual economy obeys that most basic Econ101 principle – you can not make someone pay more or less for something than they would naturally pay for it without having consequences.

Because it’s true:

From an article that one long pullquote after another:

Some new research — “Evidence of The Unintended Labor Scheduling Implications of The Minimum Wages” — shows that every $1 an hour increase in government-mandated minimum wages (“political wage-setting”) leads to the following (mostly) adverse outcomes:

And those outcomes includew:

  • a 27% increase in the total number of workers scheduled to work each week
  • a 20.8% decrease in the average number of hours each employee worked per week
  • a 13.6% decrease in the total wage compensation of an average minimum wage worker
  • a 23% decrease in the percentage of employees working more than 20 hours per week (making them eligible for retirement benefits)
  • a 14.9% decrease in the percentage of employees working more than 30 hours per week (making them eligible for health care benefits)
  • a 33% increase in fluctuations in the number of hours worked per week
  • a 9.5% increase in fluctuations in the number of hours worked per day
  • a 9.8% increase in fluctuations of shift start times and
  • average net losses of at least $1,590 per year per employee, equivalent to 11.6% of workers’ total compensation (assuming that workers were able to use their reduced hours to work a second job — an assumption which may not hold true for many employees).

It might be tempting to say “people who advocate for higher minimum wages are trying to make the poor poorer and more dependent”.

And I”m mat a loss for why they’d be wrong.

16 thoughts on “Begging For A Catastophe

  1. Yea, Tide Pod Evita is having a bad week. Her poor abuela down in Puerto Rico, just gutted her “Trump is responsible” meme. She counseled her ignorant niece by stating that Trump gave plenty of aid to PR, but corrupt politicians and bureaucrats, didn’t distribute that aid. Many of them siphoned off money for themselves or cronies. Funny! Like many states and sadly, our Federal gubmint, PR is run by Socialists and Democrats. Go figure!

  2. Moderation?! Really?! I didn’t even have any naughty words. Well, except the “S” and “D” words.

  3. ^^ Can you be opposed to Trump’s reinstatement this August (I am), and still think it’s important for Biden to attend Trump’s reinstatement ceremony?

  4. That’s kinda what I thought too, MO.

    This entire post seems to be a rather confused way to introduce a pretty interesting article that is irrelevant given the times. I mean why shouldn’t Gen-Y and younger people yapping about a minimum wage increase be allowed to yap about it just like the previous generations? Why use the generations angle when it’s an issue of leftists? Leftists never, ever fathom that their decisions will have consequences.

  5. Still pushing his “Trump will be reinstated” conspiracy theory, I see.
    His @8:34 is more evidence of Emery’s mental disorder.

  6. I do have to admit, this is the most blatant threadjack in a while. Fuck them deranged trollbots.

  7. Moderation?! Really?! I didn’t even have any naughty words. Well, except the “S” and “D” words.

    Sturm und Drang.
    (sorry, I couldn’t resist)

    After 3+ generations of public school/college indoctrination, it will take a lot of pain for people to realize they haven’t been educated. Even then, I’m not confident that most will realize they got screwed. They’ll continue to blame Trump and racism.

  8. Well, it looks like my moderated post was disapproved and disappeared.

    My comment was related to AOC getting schooled by her abuela in Puerto Rico, after she blamed Trump for her abuela’s misery. Her aunt said that Trump provided plenty of aid, but corrupt Democrat politicians, siphoned off some of it for themselves and their cronies.

    Funny! Apparently, AOC drives a Tesla and makes $174k annually as a seat warmer in congress. Why couldn’t she toss her aunty a few bucks? One person that responded to her Tweet snarked, “You could have at least let her sleep in the back seat of your Tesla”.

  9. Tide Pod Evita can afford a Tesla, but not $500 for her grandmother to fix her house. Got it. She’s taking after Mr. Obama pretty well, who infamously allowed (and still allows) his Kenyan relatives to live in squalor while he raked in the millions.

    And we see that this generosity and kindness extends to those with marginal job skills as well. Oh, you lost your job? We’ll give you some of the public’s money, minus what we give to guys like Tony Rezko (look it up) for shipping and handling.

  10. Republicans:
    2020: “Open the economy.”
    2021: “Wait, not like that!”

    Let inflation do it’s job. It will tame the overheating market. As you can see, Wall Street thinks that. Market hasn’t overheated yet.

  11. Does anyone have any idea what the troll is talking about?

    He is babbling worse than jello brain joe.

  12. If Republicans are saying “Wait, not like that”, then that tells me the economy still isn’t really “open”.

  13. Let inflation do its job.

    Ah, yes. The Carter years. I remember them well. The cardigan sweater. The Malaise speech. The Misery Index, which combined unemployment with inflation. Under Carter, the Misery Index shot up from 14 to 22.

    Under Trump, the Misery Index held in the 5 range until governors issued emergency house arrest orders to shut down the nation (purportedly to halt the spread of The Deadliest Virus Every Known) which pushed the Misery Index up to a high of 15, dropping to 7 by the time Trump left office, as states reopened.

    In April, 4% inflation plus 6% unemployment under The Garden Administration, gives us a Misery Index back up to 10. Let inflation run rampant a while longer, and keep those unemployment checks coming . . . we could see the glory of the Carter years repeated. Now all we need to do is gut the military so foreign powers walk all over us.

  14. Geez! Our faux economic expert likes inflation. Brilliant! The only people that like inflation are on Wall Street. They add to their millions, while the peons get fleeced by a devalued dollar and reduced buying power.

    Meanwhile, just like the Kenyan Klown Obumbler, Biden is bending over for his new BFF Putin. First, he shuts down our pipelines and drilling on public lands, putting thousands of people, that he allegedly a champion for, out of work. Then, he takes the sanctions off of Russia’s pipeline. This proves, beyond all reasonable doubt, that Democrats are the real traitors.

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