$20 An Hour

July 24, 2019

Rep. Rashida Tlaib calls for a $20 an hour minimum wage. That’s $800 a week for a 40-hour work week.

This, of course, is insane. $800 a week is above what about half of black and Hispanic men and women earn. A legislated wage of $800 a week threatens the jobs of half of these people.

We know this. What’s important here is that Rashida does NOT know this, and she’s a Democratic Socialist. She claims specifically to want to help minority and poor workers in her Detroit district, but her favored policy would do the very opposite.

Rashida exemplifies the ignorance of economics of her democratic socialist political persuasion. Democratic socialists simply do not have the answers to the problems of their constituents. In fact, their answers will cause even more distress.

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The Best of Michael S. Rozeff

Michael S. Rozeff [send him mail] is a retired Professor of Finance living in East Amherst, New York. He is the author of the free e-book Essays on American Empire: Liberty vs. Domination and the free e-book The U.S. Constitution and Money: Corruption and Decline.