Archives For wealth redistribution

The salient question should never have been who to blame for blacks’ predicament, but who is able to fix it. If the problem were simply a lack of cash, then the government would be the ideal candidate. But if we learned anything from the explosion of violent crime and single motherhood following welfare expansion in the late 1960s, it was that cash transfers cannot solve a problem that the absence of cash didn’t cause. Herein lies one of the many issues with reparations: it would not address the root causes of black underachievement. Fans of the concept should ask themselves: what will happen the day after reparations are paid, when black students still spend less time on homework than their white peers, blacks are still making poor financial decisions, and two out of every three black kids are still living in single-parent homes? On that day, I’d hope to see progressive scholars acknowledge that they had been asking the wrong question for 50 years. But I would not be shocked to hear them insist that, if only the reparations checks had been a bit larger, black America’s problems would have been solved.

https://quillette.com/2018/07/19/black-american-culture-and-the-racial-wealth-gap/

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More empty promises and politicians showing their lack of economic knowledge on display last night. They basically are trying to force the standard of living up with wealth redistribution. They don’t however take into account where this extra money is going to come from. Its not like the government makes any money on its own so its coming from your own pockets. Or from another loan to China. 

It seems the argument is that lots of things cause inflation, so who cares if we raise the minimum wage? The point is that if raising the minimum wage increases inflation then the newly found buying power is eroded and if the solution is to have regular hikes in the minimum wage then basically we are feeding an inflation fire.

Here we are in the United States pretending to know what we are doing meanwhile nations like Norway, Sweden, Germany, Finland, Austria, Switzerland, etc. don’t even have a national minimum wage. 

Furthermore I encourage you to look at the correlation between the unemployment rates of states and states with the highest minimum wages. Most of the states with the highest unemployment rates have minimum wages well beyond the current nationally mandated wage of $7.25.