Bachmann: If the minimum wage was gone, we could wipe out unemployment

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Republican Presidential candidate Michele Bachmann has soft-pedaled her opposition to the minimum wage law considerably since 2005, when she was quoted as saying, at a Minnesota State Senate hearing, “Literally, if we took away the minimum wage—if conceivably it was gone—we could potentially virtually wipe out unemployment completely because we would be able to offer jobs at whatever level.”

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In a 2000 survey of 308 academic economists, just under half agreed fully that the minimum wage increases unemployment among “young and unskilled workers.” The rest agreed with that statement with provisos or not at all.

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“Michele Bachmann’s position is not radical,” says Chris Edwards, director of tax policy at the libertarian Cato Institute. Edwards says high unemployment of teenagers in both booms and recessions is evidence that the minimum wage is above the value of their labor.

http://www.businessweek.com/magazine/would-killing-the-minimum-wage-help-07012011.html

[mawilson 2,133]

As if someone would actually work for less than $7 an hour.

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As if someone would actually work for less than $7 an hour.

Actually, I think many would.

[Zero Sum 305]

Illegal immigrant slaves might.

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Illegal immigrant slaves might.

Lots of Americans would, just not in NYC or Chicago.

[웃 910]

Lots of Americans would, just not in NYC or Chicago.

They make more collecting unemployment checks and food stamps

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They make more collecting unemployment checks and food stamps

Obviously you'd have to cut them off first

[Zero Sum 305]

They make more collecting unemployment checks and food stamps

There would probably be no UI under Bachmann.

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There would probably be no UI under Bachmann.

Yeah, because insurance is socialist.

[one...two...tree 2,762]

If people in other countries can manage to scrape by on less than $2 a day, why can't Americans? Time to give up their cell phones and big screen tv's. It's all about sacrifice.

[웃 910]

There would probably be no UI under Bachmann.

It would be replaced by the power of prayer

[jundp 191]

I thought you couldn't collect unemployment unless you'd been laid off? I've never collected it so I really don't know. I also haven't worked for minimum wage since I was probably 17 years old...

[mawilson 2,133]

Actually, I think many would.

Work a whole day for $40? $800/month; $1200/month if you work weekends?

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If people in other countries can manage to scrape by on less than $2 a day, why can't Americans? Time to give up their cell phones and big screen tv's. It's all about sacrifice.

We'd replace the block after urban block currently occupied by unemployed fools living off the government dime with block after urban block of tenement buildings packed with diseased people living in unhygienic conditions... but they'd all be making money, no matter how little. And when you work and make money (no matter how little), you get pride. And when you get pride, you get drive. And when you get drive... you get the hell out.

Work a whole day for $40? $800/month; $1200/month if you work weekends?

Yup. Many would if you deprived them of government titty.

[mawilson 2,133]

If people in other countries can manage to scrape by on less than $2 a day, why can't Americans?

Things are a bit more expensive here.