In case you missed this. Check out the great commentary on minimum wage and the absolute ridiculous nature of the US Congress and those in power in this country. As usual Mr. Stewart hits it on the head.
The stuff about the video games is pretty hilarious as well. I love Sam B, but the end segment is pretty weak in my opinion and kind of detracts from the whole segment.
Update: We have some good ole fashioned debate going on in the comments be sure to check them out and add to the "discussion."
4 interested person(s)
jon stewart obviously knows jack about economics. minimum wage is a non binding price floor as it is, raising it would only help 17 year olds working at the mall. thanks a lot for your half assed thoughts on politics
apparently it's the anonymous idiot who knows jack about economics. by raising the minimum wage, you increase the buying power of individuals and thus increase the dollar amount loaded into the american economy daily. larger mimimum wage makes people happier and thus more willing to buy.
Note i didn't know that the federal wage was so low, here in CA it's $7.75
anon-
FIRST off your welcome for my half assed thought on politics.
SECOND off your logic is flawless. only mall working 17 year olds make minimum wage. Thats not a half assed assertion at all. I'll tell you this raising the minimum wage to $7.50 would positively affect the lives of more than 8 million workers (thats more that just mall-ratting 17 year olds) including an estimated 760,000 single mothers and 1.8 million parents with children under 18.
THIRD off by raising the minimum wage there is widely supported benifits. in effort to not be "half assed" let me list them real simple for you:
1. Reduces low-paid work, which may be unfair and exploitative.
2. Stimulates economic growth by increasing the purchasing power of workers (see Torr's statement)
3. Stimulates economic growth by discouraging labor-intensive industries, thereby encouraging more investment in capital and training.
4. Encourages many of those who would normally take low-wage jobs to stay in (or return to) school and thus to accumulate human capital.
LASTLY I would love to hear your justification for congress to raise their wages to a measily 165 large (thats $165,000 a year) so they can debate video games, gay marriage, and non-binding resolutions.
that'll be "half assed" like the bravery of anonymous commenters then?
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