FROM 2012 INTO 2013 POLITICS THREAD

Beggar Class. You're too funny. I bet your Congressman is a real winner, too. Probably Gohmert or Jeb Hensarling.

 

By "Beggar Class" do we mean Wall Street, and its $9 trillion or $16 trillion or $29 trillion federal bailout?

www.nytimes.com/interactive/2009/02/04/business/20090205-bailout-totals-graphic.html

www.forbes.com/sites/traceygreenstein/2011/09/20/the-feds-16-trillion-bailouts-under-reported/

www.cnbc.com/id/45674390/The_Size_of_the_Bank_Bailout_29_Trillion

 

Well, the $29 trillion is just nonsense, of course.

You don't add up loans that roll over and scream, "Look at all that debt!"

If I borrow $100,000 for 30 years to buy a house and refinance 4 years later at $80,000 for 15 years, I haven't borrowed $180,000.

 

Wonder what people thought of this bit of business in Rubio's speech:

<i>And the truth is every problem can’t be solved by government. Many are caused by the moral breakdown in our society. And the answers to those challenges lie primarily in our families and our faiths, not our politicians.</i>

How does Rubio intend to address the "moral breakdown in our society" without government?

This is where the GOP repeatedly, consistently falls apart. They are of two minds. On the one hand, they want an economic model that doesn't at all adhere with the "think more of others than yourself" worldview of Christianity. But, then, they're all on board with "faith and families" when it comes to "moral breakdown of society."

Why do they think that Christianity and capitalism are philosophically compatible? You can't sell enough Americans on "do whatever you want with your money, but don't do anything you're not supposed to with sex, drugs, R-rated movies or anything else moral!" It's a failing argument.

 

Don't regulate the boardrooms, just the bedrooms?

 

Honestly, it's deeper than that slogan. It's a fundamental flaw in the identity of the modern Republican.

 

Back to the minimum wage argument. If the economy was rolling there would be no need for an increase in the minimum wage. This is how I know the economy is not getting any better and will not for a long time...the Democrats are after a minimum wage increase.

Strong economies do not need minimum wage increases. Look at Edmonton and/or cities in North Dakota that are rolling in the oil shale dough. They are paying $17 an hour for workers at McDonalds. This is because they actually have to compete for low-skill workers. It's the free market. If our economy would take off the unskilled wages would take off as well.

 

Or Rob Woodall.

 

$17 an hour and workers still can't afford to live there.

 

Edmonton, yes. North Dakota, no. The point is that the market sets the wages, and mandating the minimum a company can pay an unskilled worker will lead to less jobs for the unskilled workers.

 

Sorry, Mr. Alger, but we're a mixed economy, and thank god for it. The weaknesses of unfettered capitalism are manifest.

 

Or by increasing the minimum wage you'd have more people pumping more disposable income through the economy creating more demand for goods and services.

I'm sure it's one of the two.