Professor Robert Reich, a/k/a Little Bobby, offers his two cents on how to boost the Obama regime economy, from Puffington Post :
Have you noticed how often conservatives who disagree with a policy proposal call it a “job killer?”
They’re especially incensed about proposals to raise the federal minimum wage. They claim it will force employers to lay off workers worth hiring at the current federal minimum of $7.25 an hour but not at a higher minimum.
But as Princeton University economist Alan Krueger pointed out recently in the New York Times, “research suggests that a minimum wage set as high as $12 an hour will do more good than harm for low-wage workers.”
That’s because a higher minimum puts more money into the pockets of people who will spend it, mostly in the local economy. That spending encourages businesses to hire more workers.
Professor Reich uses the old one study trick. Find but a single study that purports to support your argument, wave the study around, and declare the debate resolved.
Professor Reich frame his support for a fifteen dollar federal minimum wage as moral question. Which means he will to use the jack-booted thugs of the federal government to support his individual view of morality.
Professor Reich seems to be arguing that raising the federal minimum wage to fifteen dollars an hour will somehow help the economy because taking money from person A and giving it to person B will by some magic boost the economy. Professor Reich argument’s assumed that person A would not otherwise spend or invest his money but rather store it a mattress.
On what planet does Professor Reich live?