Higher Minimum Wage Equals Lower Number Of Jobs

A candy bar sells for about a buck. Double the price of a candy bar and you won't sell as many. You don't have to be a rocket scientist to realize that as you increase the price of a service or product  without a concomitant increase in the value of that service, the demand for that service will decrease. And that is what is happening with the drive to increase the minimum wage to $15 an hour. The number of entry level jobs will decrease.

From Investors Business Daily:

One of the most vexing economic issues today is the minimum wage. For many, the failure to raise the minimum wage to $15 or higher is a sign of our nation's stinginess and an essential part of the fight for income equality. However, the truth, sad to say, is quite different, as a new study shows.

The study by the American Action Forum, a nonpartisan think tank led by former Congressional Budget Office Director Douglas Holtz-Eakin, looked at minimum-wage hikes scheduled to take effect in the coming years in 14 states and the nation's capital and found they will "cost millions of jobs across the country and each lost job only leads to total wage earnings rising by a few thousand dollars."

The reason is simple: When you raise the minimum wage of low-skilled, low-productivity labor — a group that disproportionately includes young minority males — you inevitably destroy jobs. No business will hire someone and pay him more than he's worth.

And thus it always is with liberals trying to curry favor with voters. They ignore basic truths to remake the economic universe in their image. Of course the consequences of their ignorance is always blamed on someone else. They'll scream that jobs for young minority males are disappearing because business owners are greedy white men who exult in their white privilege and ability to oppress yada yada yada....

Black Families Worse Off Under Obama

Everybody is worse off under Obama. The recession officially ended in 2009, but for blacks, Obama's administration has been a disaster. But that's alright for blacks because if Obama had a son, he would have been Trayvon Martin.

Make sense to you?

From the NRO:

Buried in a New York Times story about the economy was this arresting statistic: Median family income for black Americans has declined a whopping 10.9 percent during the Obama administration. It has declined for other groups as well — 3.6 percent for non-Hispanic whites and 4.5 percent for Hispanics — but the figure for blacks is huge. This decline does not include losses suffered during the financial crisis and the recession that followed, but instead measures declines since June 2009, when the recession officially ended.

That’s not the only bad news for African Americans. The poverty rate for blacks was 25.8 percent in 2011. The black labor-force-participation rate, which rose throughout the 1980s and 1990s, has declined for the past decade and quite sharply under Obama to 61.4 percent. The black unemployment rate, according to Pew Research, stands at 13.4 percent. Among black, male high-school dropouts, PBS’s Paul Solman reports, the unemployment rate is a staggering 95 percent.

Does any of this affect the standing of the nation’s first black president with black Americans? Not a whit, apparently.