Ignorance of the laws of economics abounds in America

Most Americans want to make it more difficult for young people to get a job. Most Americans want to increase both inflation and unemployment. Most Americans want to transfer vast amounts of wealth from America’s youth to middle-aged union members. Most Americans want to increase poverty among America’s most vulnerable workers. Most Americans want to hobble the economy further and, in exchange, get nothing in return.

The above would represent inescapable conclusions if we were to assume that the American people were not, by an large, profoundly ignorant of the iron clad laws of economics. Alas, they are ignorant. They don’t want any of the above. They do, however, support policies that will lead directly to these outcomes. Witness…

By a wide margin (71% to 26%), the public favors increasing the minimum wage from its current level of $7.25 per hour to $9.00 an hour. But while large majorities of Democrats (87%) and independents (68%) favor raising the minimum wage, Republicans are evenly divided (50% favor, 47% oppose).

Among all Republicans and Republican-leaning independents, those who agree with the Tea Party oppose the proposed minimum wage hike by two-to-one (64% to 32%). Those who have no opinion of the Tea Party, or disagree with it, favor increasing the minimum wage by 60% to 36%.

Even one third of Tea Party supporters also support an increase in minimum wage. Face palm…

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9 Responses to Ignorance of the laws of economics abounds in America

  1. R.D. Walker says:

    The minimum wage shouldn’t be raised, it should be abolished.

  2. BrunDawg says:

    A wise man once told me the story of a horse that was ill and a turpentine cure. Thanks RD.

  3. Ray Davies says:

    Remember the majority of the American public gets ALL its information from the MSM and we have the administration leading the media by the nose. What we have now days is the uninformed voter ( dumb shits who believe everything the MSM says) and the few of us who still think for ourselves. I know a lot of supposedly intelligent people who don’t go beyond what they hear on TV. (my wife was one). There has to be some way to reach these people, I try by asking them questions nad then making them think. Sometimes I can get them to go check it out, sometimes. Friends, this is what happened in Germany before WW II, the Brown Shirts controled the media, and everything was always getting better. Look for this administration to try and over rule the 22 nd Amendment. For the first time I’m afraid for my Country

  4. R.D. Walker says:

    Once, when I went to a parade, I took a little step stool to stand on. It was great. Just 18 inches high and I was able to see over the crowd and enjoy the parade. In fact, it was so nice, I think every person attending all parades should have an 18 inch step stool.

    I mean, if a raise helps one person, giving a raise to everyone just makes sense, right?

  5. notamobster says:

    I remember noting Tea Partiers who were demanding smaller govt, less taxes, and massive spending cuts – to everything but their pet programs. Medicare and social security need to be abolished for everyone under 55. No will exists. People absolutely lack even the most perfunctory understanding of economics. It’s disgusting.

    Ask em what Honey-Poo-Poo likes for dinner…

  6. fubar says:

    this of course, ties into the entitlement mentality of the majority of Americans.

    most people, unless self employed, have someone ELSE submit their employment taxes, health insurance, worker’s comp, & unemployment insurances, and don’t realize the true cost of having employees.

  7. James says:

    Most people are really, really stupid.

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