Five hundred economists, including three Nobel laureates, on Wednesday
urged Congress to junk President Obama's proposal to boost the minimum
wage to $10.10, claiming it will cut jobs and raises prices, reports The Washington Examiner.
The letter is actually a mixed blessing, although it does highlight the
problems with minimum wages, it also states that poverty is a "complex
issue that demands a comprehensive and thoughtful solution that targets
those Americans actually in need." Whatever the hell that means.
Among the signers were Nobel laureates Vernon Smith, Edward Prescott and
Eugene Fama, and George Shultz, who was secretary of State, Treasury
secretary. I didn't spot any libertarians or Austrian school economists
among the group.
The entire letter and signers can be found here.
So this begs the question Why is this administration purposefully destroying this nations Jobs sector and economy?
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