Listen to this. Congress enacts a law requiring employers to pay every employee 25% more than they are worth. Pretty good deal, at least for the workers. But what about the rest of us? Should we have to pay more for goods and services to make up for costs employers can’t cover? This is what Obama wants, according to his State of the Union message. When he embraces minimum wage laws, a statute with a strong racist history, the initial result is simply involuntary income transfers from unsuspecting consumers to undeserving workers. Eventually, the overpaid workers get replaced by workers who are worth higher wages and unskilled workers get replaced by machines. Good for the overpaid workers (at least until they get fired) but bad for the country. In last Sunday’s encore episode, Linda Gorman of the Independent Institute joins Bob to discuss this contentious and misunderstood issue which harms the people it is supposed to protect. Minimum Wage: the issue that affects all of us, all the time.
Is there anything more rare than an entrepreneur who favors higher wages and higher taxes? Believe it or not, a group of them have formed an organization called Business for Shared Prosperity (http://businessforsharedprosperity.org/). Tomorrow at noon Pacific Time, you’ll have a chance to meet Lew Prince, learn his progressive position on these anti-free market issues and challenge (or support) his position. Lew is the successful founder and Managing Partner of Vintage Vinyl in St Louis. They sell vintage vinyl records (remember records?). Minimum wage laws and the Buffett Rule will be debated and discussed (amongst other things). Who knows? Maybe we’ll discuss Alan Fried or Cousin Brucie? In any event, Capitalism and rock n’roll.. What a great way to enrich your weekend. Radio at its laissez faire best. 901 AM in the SF Bay Area. www.newstalk910.com on line. Call in 800-345-5639 to support Bob or Lew.
Who is the “they” and what “can‘t” they do? In this episode, John discusses his new book “No They Can’t – Why Government Fails but Individuals Succeed.” As you all know, John is host of Stossel, which appears every Thursday night at 9 PM Eastern on the Fox Business Channel. We wish our show could be 12 hours long, but it’s not, so Bob and John have narrowed their discussion topics down to public education, TSA, Obamacare, occupational licensing, minimum wage laws, nanny state (and they touch on about a thousand other red meat issues that are important).
“The Unemployed. Lazy, unlucky or victims? In this episode, Bob explores jobs in America to see if 9% unemployment is the new norm. Is unemployment the fault of the worker or failed government policies? There’s no better way to spend a Sunday afternoon hour than with Bob and Huffington Post reporter Arthur Delaney, author of ”A People’s History of the Great Recession” to discuss these most pressing and intractable issues: unions, minimum wage, unemployment insurance and bribing employers to hire the unemployed. Don’t miss it.