Having Just Caused A Wave Of
Mass Layoffs In January With
New Tax Increases &
Obamacare, President Obama
Proposes Hiking The Minimum
Wage $1.75 To $9/hr
Alternate Headline: If You've Ever Suspected Washington Shields Itself From the Results Of The Policies It Wants The Rest Of Us To Live Under, You Were, In Fact, Correct
Anyone with 2 cents worth of business sense knows what would happen if already struggling businesses in the present economy suddenly had to face a new increase in their business costs. Like say, having to pay each and every minimum wage worker an extra $1.75 an hour.
But since a lot of people out there apparently don't have 2 cents worth of business sense, I'll spell it out: businesses will shed a lot of minimum wage workers. Those that remain will end up working reduced hours.
Now I never went to Harvard. I'm not super smart like many people seem to think Obama is. If I can see what the real world consequence of this new policy would be if it was enacted, why can't he?
That brings up an interesting point that was the subject of my latest Twitter rant: People in Washington spend A LOT of time - and a lot of OUR MONEY - shielding themselves from the results of their own polices.
They truly do come to believe they are this super-special elite class that needs to be exempt from many of the laws they want to make the rest of us live under. And because the job of being up there and dictating how us serfs should live our lives is such a huge burden, they deserve to be EXTREMELY WELL COMPENSATED for this, as we're going to see.
Several times in that Twitter rant, I refer to a chart I posted as a photo. Here it is:
Like all Twitter reading, you start at the bottom waaaay down there and read your way up.