AccessMyLibrary provides FREE access to over 30 million articles from top publications available through your library.

How to hurt the poor.(Correction, Please!)(minimum wage)

The New American

| December 11, 2006 | Hoar, William P. | COPYRIGHT 2006 American Opinion Publishing, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

ITEM: In its post-election coverage, the Washington Post for November 9 reported." "Democrats wasted no time yesterday proclaiming a new era in Washington, pledging to put middle-class economic issues at the top of their agenda." For example, continued the newspaper, "Analysts say that Democrats may find chastened Republicans receptive to some ideas, such as raising the minimum wage."

ITEM: CNN's Lou Dobbs, during his television show Lou Dobbs Tonight on November 8, scolded opponents of a minimum-wage increase by pointing to initiatives that passed in several states: "When the voters go to the trouble of an initiative ... and say business is just pushing way too hard against the interests, the common good (of) working men and women," that shows how important the issue is "to middle-class Americans."

CORRECTION: The Democrat leaders in the Congress vowed, if they took control of the legislative branch, immediately to introduce legislation to increase the mandatory federal minimum wage by 40 percent. Unfortunately, decades of propaganda have led many Americans to believe the government has a magic wand that can dispense benefits at little or no cost.

Nevertheless, lawmakers cannot make us all wealthier by decree. What legislators can do, however, is to fool some people into thinking that has happened. They raise the minimum wage, which may help some of those who get raises, but at the same time, they reduce the overall rate of employment, especially among less skilled and minority workers: this is what does happen when the mandatory minimum wage is increased. Yet, this is hardly promoting the common good.

The laws of supply and demand cannot be repealed any more than can the law of gravity. As economist Walter Williams of George Mason University puts it: "If higher minimum wages could cure poverty, we could easily end worldwide poverty simply by telling poor nations to legislate higher minimum wages."

If the government, whether state or federal, causes certain goods or services to cost more, businesses or consumers will buy fewer of those goods or services; that applies when government adds to the cost of labor as much as, say, when it piles on more taxes or regulations. Among the results will be that businesses will tend not to hire, or become more likely to fire, the least-productive members of the work force, or reduce the benefits of those who do keep their jobs at the new higher mandatory wage.

It is usually illuminating to ask the question, cui bono? Or, who benefits? In this case, the demand that the federal (or state) government should require an increase in the mandatory minimum wage is being pushed largely by organized labor and its left-wing allies. This should be no surprise since it is in their political interest to do so. They win by knocking off the lowest rungs of the employment ladder for the supposed beneficiaries, who don't comprehend what is happening.

Related articles from newspapers, magazines, journals, and more
Debating Lou Dobbs' Stance On Immigration
Transcript from: NPR Tell Me More MANDALIT DEL BARCO September 17, 2009 700+ words
...Tell Me More 09-17-2009 Debating Lou Dobbs' Stance On Immigration Host: MANDALIT...proposed health care overhaul. CNN anchor Lou Dobbs was among those holding their feet to...journalist and activist campaigning to get Lou Dobbs off the air. It's a campaign called...
Lou Dobbs to Launch National Radio Talk Show in Partnership With United...
Press release article from: PR Newswire December 4, 2007 700+ words
...Each Weekday Beginning March, 2008 The Lou Dobbs Show Will Occupy Gap Between Conservative...winning broadcast journalist and author Lou Dobbs announced today that he will be bringing...The show, tentatively titled "The Lou Dobbs Show," will be produced, distributed...
Lou Dobbs Steps Down From CNN
Transcript from: NPR Morning Edition STEVE INSKEEP November 12, 2009 700+ words
...INSKEEP NPR Morning Edition 11-12-2009 Lou Dobbs Steps Down From CNN Host: STEVE INSKEEPTime...And I'm Renee Montagne. CNN's Lou Dobbs was one of the original anchors when...Yesterday evening, he told viewers of "Lou Dobbs Tonight" he was leaving the show immediately...
Lou Dobbs Leaving CNN.(A & E)
Newspaper article from: Seattle Post-Intelligencer (Seattle, WA) November 12, 2009 700+ words
Longtime CNN anchor Lou Dobbs announced on his show Wednesday that...issues in the future." Watch clips of Lou Dobbs Dobbs did not announce his next move...received threatening phone calls. The Lou Dobbs Tonight host has been with the network...
Phillips and Lou Dobbs Launch Financial Newsletter.
Press release article from: Business Wire February 27, 2003 700+ words
...LLC, today announced the launch of Lou Dobbs' Money Letter. This monthly newsletter...provide readers with unique access to Lou Dobbs' unparalleled insights, commentary...succeed through these difficult times. "Lou Dobbs is a trusted voice and perceptive commentator...
Interview With Lou Dobbs
Transcript from: The O'Reilly Factor (Fox News Network) Bill O'Reilly November 16, 2009 700+ words
...is on. Tonight.(BEGIN VIDEO CLIP) LOU DOBBS: This will be my last broadcast here...O'REILLY: A "Factor" exclusive. Lou Dobbs on "The Factor" to explain why he left...Reilly, thanks for watching us tonight. Lou Dobbs and CNN, that is the subject of this...
LOU DOBBS' CRUSADE\ CNN NEWSMAN MAKES OFFSHORING ISSUE HIS JOB.(Business)
Newspaper article from: The Cincinnati Post (Cincinnati, OH) April 8, 2004 700+ words
Byline: Lynn Elber Associated Press Lou Dobbs is a newsman on a mission. Or, as detractors...Every weeknight for more than a year "Lou Dobbs Tonight" on CNN has insistently covered...his show's introduction puts it, "Lou Dobbs Tonight" is an hour of "news, debate...
John King to Replace Lou Dobbs.(A & E)
Newspaper article from: Seattle Post-Intelligencer (Seattle, WA) November 12, 2009 700+ words
...over the spot left vacant by the departing Lou Dobbs, the network announced Thursday. Lou Dobbs leaving CNN "The program will reflect what...announced Wednesday night on his program, Lou Dobbs Tonight, that he was leaving the network...
For more facts and information, see all results
©2009 Gale, a part of Cengage Learning. All rights reserved.
About us | FAQs | Contact us | Privacy policy | Terms and conditions
Other Gale sites: Encyclopedia.com | HighBeam Research | Acquire Content | Books & Authors | Goliath | MovieRetriever | Smart QandA