Wednesday, February 8, 2012

Correctomundo re Goolsbee

That was quick.  Apparently my references to Mrs. Goolsbee in my prior post were off the mark.  I am informed that her correct name is Robin Winters.

My apologies to Ms. Winters.

Ms. Winters & Dr. Goolsbee

That Stupid Minimum Wage

Good Jobs at Market Wages
King of the Gypsies Republican Presidential Candy Date Mitt Romani Romney keeps putting his foot in his mouth.  Just when he seemed to have pulled it all together, we get this from (who else) Yahoo! News:
"Romney said last week that he supports regular increases in the minimum wage to keep pace with inflation."
OMG.  The next time that man feels his mouth opening he just needs to put a sock in it.  Who knows what crazy idea he'll come out with next, maybe to let all those Mexican grandmothers stay here.
Having a minimum wage is very controversial.  As Yahoo! News reports, "Some experts argue that raising the wage costs jobs, but others disagree."  Natch Yahoo doesn't quote any actual experts, but lots of politicians were willing to fill the gap. Especially our Republican friends, who were quick to set Mitt straight.
South Carolina Senator Jim DeMint
"Senator DeMint opposes the minimum wage because it hurts the poor and destroys desperately needed jobs," DeMint's spokesman, Wesley Denton, told Yahoo News. "Wage mandates prevent people from getting jobs and the skills they need to climb the economic ladder."
How much?
Michele Bachmann, who quit the presidential race last month, has said that scrapping the minimum wage could "potentially virtually wipe out unemployment completely, because we would be able to offer jobs at whatever level."
Well, of course.  The thing to remember, and please keep this in mind, is that the problem for people who are unemployed is not that they don't have a job, it's that they don't have any money.  MONEY.  So giving them a job that doesn't pay enough money isn't going to help unemployed workers.  It's not.
Why don't all these Republicans get this?  They seem smart enough.  What's the problem?
There is no problem.  They are simply lying.  We should all know this by now.  The press goes along for the ride because it's easier to write or talk about a fake issue like whether or not the minimum wage helps workers than to have to do actual research and analysis, not to mention put your access and credentials at risk, and report on what is really happening.  What's that?  Well, let's ask ourselves who would benefit from tanking the minimum wage.  How about employers?  How about investors who invest in employers?  McDonalds spends a lot on minimum wages.  If they could whack a third of that off the P&L, the C-suite would probably get to pay themselves a nice round of bonuses for a job well done.  Remember, a corporation's duty is to its shareholders, not its employees.  And of course, all of that wealth will trickle down to the rest of America.  Just more slowly.
So, where are the Democrats on this issue?  Can't they round up someone with a few brains who can squash this nonsense? What ever happened to Obama's economic council? 
Personally, I miss that Austan Goolsbee fellow.  He was smart and funny and good at explaining this stuff.  We need a new generation of honest dismal scientists like him who can make sense of things like this and blaze a path forward that doesn't have half of the country mowing lawns for $3.00 an hour.  But Austan and his smokin' hot wife Robin have gone.  So where do we go now? Where is the leadership?
Austan & Robin Goolsbee
Out of Service