Wednesday, June 29, 2011

Bachmann ludicrously thinks killing minimum wage would eliminate unemployment

Michele Bachmann really wants to abolish minimum wage for her corporate masters. That's why she was on hand in Iowa today, insisting that abolishing minimum wage could "virtually wipe out unemployment".

Of course no serious economist thinks she has the first clue what she is talking about. Current minimum wage increases have not increased unemployment. In fact unemployment rates have gone down (i.e. gotten better) from where they were at the height of the Bush Recession which started in 2007. This improvement in employment coincided with a phasing in of higher minimum wages.

Even dishonest Heritage Fraud-peddler James Sherk who was defending her said, "While large numbers of people do not lose jobs because of hikes in the minimum wage, employers put off hiring people, he said, which delays the age that young people, in particular, enter the workforce." Note that this has basically NOTHING to do with the issue of whether it would wipe out unemployment. Young people are not the reason that we have massive unemployment. Furthermore, he apparently is clueless that young people often receive training wages until they are 19 under laws that republicans have already ram-rodded through for McBusiness. So even this ridiculous clown couldn't defend her and the Heritage foundation is as far right-wing whackadoodle as they come.