Leaked email shows Democrats knew that raising the minimum wage would cost jobs

The minimum wage debate is one we’ve covered closely here at ACC. One of the primary reasons is we know that a significant increase in the minimum wage above the market rate for unskilled labor will result in job losses. No one wants job losses.

But even though a significant minimum wage increase would pretty obviously put some people out of work, reduce hours for others, and force some businesses to just close up shop, there are those who have continued to push for a higher wage.

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The Obama legacy: An economy choking on red tape

Obama does not get business. He is a product of prep-school and then found his way into Columbia and Harvard. Then he became a “community organizer” in the Saul Alinsky tradition in Chicago. Then he became a politician. He hasn’t spent any time in the world in which most Americans live.

Indeed Obama has been downright hostile to commerce and the private sector since the beginning of his presidency. Remember the “you didn’t build that

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Justice Dept.: Firing migrant workers with expired papers is discrimination

The goal ultimately is to make it harder and harder for companies to fire anyone.

Sounds good for workers right? Well, it’s a double edged sword. If it’s harder to fire it’s much harder to hire. Companies fearing being stuck with poor performers will choose to not hire or to automate.

And check this video out. This is the sort of thing employers have to concern themselves with these days. Good luck keeping all the rules straight.

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Why are Our Urban Areas so Dysfunctional? Truth is Some Politicians Want Their Constituents Trapped in Poverty

As we said in a recent video, there are many reasons why much of urban America is an economic wasteland. We site 2 main reasons however, big government, and cronyism.

Cities are often not very good places to do business. They are typically high tax high regulation zones. Cities often look at businesses as little more than revenue streams. And what can’t be extracted from business via taxes can be regulated out of businesses with laws.

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Capitalism Jamaican Jerk Style on the Streets of New York (VIDEO)

Image: Screenshot Business Insider

I have long contended that restaurants are one of the most capitalistic areas of our economy. Make good food at a good price and people come back. Repeat over and over and over. Keep making people happy and you keep making money.

That is unless the regulators start shaking you down.

This place looks delicious. Here’s their Facebook page if you want to track them down.

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The Economist says the political divide is between “globalists” and “anti-globalists”, no it’s the political class versus everyone else

In the attached article The Economist frets that the trend toward “globalism” (their word) is in jeopardy. And what the magazine or “newspaper” calls globalism is indeed being challenged. The headlong march toward transnational governments embodied in the European experiment is under attack. And for good reason. People feel disenfranchised.

The average person sees a “global order” (again The Economist’s words) which cares little for the “pedestrian” interests of the middle class. The bourgeoisie sees a rising crony class,

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How to make the plebes pay for their own circuses: The great sports stadium jack

Sports makes people lose their minds. Politicians cut deals for the home team. Politicians cut deals for new teams. Owners enjoy tax shelters and subsidies. And the public gets to pay for the stadiums, and the new traffic, and everything else that goes along with a new stadium. Detroit has no money and it still is financing much of the construction of a new arena for the Red Wings.

But stadiums bring jobs right? Heh.

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Bigger government does not mean more “social justice” in fact it often, usually, means the opposite

Socialism has a half life. Once honest to goodness socialism is instituted it is only a matter of time before the system implodes on itself. The primary factor in the speed of collapse is the amount of fat within an economy before massive state intervention and redistributionist policies. If the disease of socialism, hard core socialism, think the USSR, Cuba, North Korea, and even places like Venezuela, really takes hold, if the state assumes pretty much every aspect of the economy,

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Following Minimum Wage Increases, Unemployment Spikes among Black Male Teens

The minimum wage shuts people, the least skilled in a society, out of jobs. There is no doubt about it. It does. If someone’s labor is worth less than a $15/hour minimum wage that person will not get the job. It’s not complicated, and yet so many want this simple equation to be false. They will bend over backwards to justify an increase in the minimum wage and will insist that such an increase will raise all boats. Unfortunately, when the minimum wage is increased far above the real wage rate of unskilled labor most boats don’t rise and many sink.

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End crony capitalism to end global poverty

If we ended crony capitalism (a good goal, but it likely it can only be reduced – but perhaps drastically) it would indeed help the plight of the global poor. Countries which are poor are always rife with cronyism. The established powers that be, which control the government, loot the rest of the country. It is the natural tendency of humanity, but this natural tendency must be fought. If we want broad prosperity cronies must be brought to heel and hiding places for cronies eliminated.

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The Keynesians Stole The Jobs

If you really want to understand modern economics, really understand it, read this book.
By Ron Paul
Late last week the markets were shocked by a surprisingly bad May jobs report – the worst monthly report in nearly six years. The experts expected the US economy to add 160,000 jobs in May, but it turns out only 38,000 jobs were added. And to make matters worse, 13,000 of those 38,000 were government jobs!

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Does the horrible jobs report on Friday indicate a sharp economic slowdown?

I have to say that right around me on the very very outer bands of Washington DC’s influence it doesn’t feel very “recessiony” currently. I will also say that I was in Loudoun County last week, the wealthiest county in the USA per capita and just outside of Washington, and the Target was filled with shoppers. It almost felt like pre-2008. It pays to live close to the crony center of the universe. Sure the traffic is insane, sure it’s miles and miles of suburbia,

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(YIKES) US created 38,000 jobs in May vs. 162,000 expected “There’s one word for it, which is just shocking,”

I was listening to Bloomberg this morning in the car and this kind of number was certainly not on the table for the economists and money managers they had on for the breakfast show. (At least the ones I heard.)

38,000 huh? And these numbers of late have been particularly subject to downward revision over time. This is a significant blow and may put a lot of the economic world back on the heightened state of alert we saw at the beginning of the year as stocks dipped seriously.

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