Wednesday, October 26, 2011

Creative, Impossible

The answer was suggested a half-century ago by Milton Friedman: replace most social welfare programs with a negative income tax. A minimum wage punishes willing employers and willing employees. In an effort to force employers to pay a "fair" wage to our least skilled, we erect insurmountable barriers to employment for many potential employees.
http://www.realclearmarkets.com/articles/2011/10/12/30_million_new_jobs_in_five_years_yes_we_can_99305.html
The reason you can tell the current administration is not sincere about trying creative things, and therefore not interested in genuine change, is that they are stuck on 80 year old socialism, and reject out of hand solutions which have not been part of the socialist platform for the last 80 years.

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