DYSPEPSIA GENERATION

We have seen the future, and it sucks.

The Minimum Wage and the Problem of Honor

16th February 2013

Kevin Williamson blows the whistle.

The problem is that in the current political climate, a deal is never a deal. Republicans might agree to a small increase in the minimum wage in return for indexing it to CPI and then leaving it alone — if not forever, then at least for some meaningful period of time. Once the long-term rule is established, markets can adjust, and investments can be made. In theory, that would be a pretty good deal, but there is nothing to stop Democrats from advocating further increases to the indexed minimum wage every time they feel the need to trot out a little class-warfare artillery, which is about once a week, apparently.

The president, in his State of the Union speech, said (with an absolutely straight face) that the country needs to agree on some long-term, bipartisan solutions to our economic troubles, particularly our fiscal troubles, rather than career from one manufactured crisis to the next. I agree entirely. But President Obama and his party are significant manufacturers of manufactured crises. Not a minute after securing the taxes increased on the so-called rich they wanted, President Obama and the Democrats have proposed a new round of tax increases, and will no doubt accuse Republicans of “holding our economy hostage” if they resist them.

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