Fox Guest: Minimum Wage is 'Black Teenage Unemployment Act'

[Cigar]

http://www.youtube.com/watch?feature=player_embedded&v=xPZnltzd-bU
From: The David Pakman Show (http://www.davidpakman.com)

Kinda speaks for itself :wink:

[keymanjim]

He's correct. Black teenage unemployment is around 50%.

[Cigar]

He's correct. Black teenage unemployment is around 50%.

... and that has what to do with Minimum Wage?

... so if Minimum Wage was 3 cents ... Black teenage unemployment would be what?

[keymanjim]

... and that has what to do with Minimum Wage?

... so if Minimum Wage was 3 cents ... Black teenage unemployment would be what?

"When you spread the wealth around, it's better for everyone."

[Mainecoons]

He's correct. Black teenage unemployment is around 50%.

Wait until Obama gets his open borders agenda fully fleshed out.

[McCool]

And I'm not sure I can wait much longer for the rollout of Liberal Utopia. I hope it's as regulated and pc as people say it will be.

[pragmatic]

http://www.youtube.com/watch?feature=player_embedded&v=xPZnltzd-bU
From: The David Pakman Show (http://www.davidpakman.com)

Kinda speaks for itself :wink:

He mentioned the word black. So he must be racist? Sometimes you really are a doofus.

Did you even listen to his statement/words....??



//

[Cigar]

He mentioned the word black. So he must be racist? Sometimes you really are a doofus.

Did you even listen to his statement/words....??



//

The you must be the Biggest { I'm not allowed Name Calling Directed at another Forum Member / So-Called Forum Rules }; because you are the first one to mention raciest in this Thread.

[pragmatic]

The you must be the Biggest { I'm not allowed Name Calling Directed at another Forum Member / So-Called Forum Rules }; because you are the first one to mention raciest in this Thread.


Am going to go with what you implied. Sometimes i get crazy and make suppositions....

[nic34]

Wait until Obama gets his open borders agenda fully fleshed out.

What, they're not already here? Thought the borders needed securing....:huh:

[Captain Obvious]

Cigar doesn't understand.

[The Xl]

Wait until Obama gets his open borders agenda fully fleshed out.

They're effectively open, anyway.

[Peter1469]

The higher the minimum wage is, the less unskilled jobs are available. It isn't rocket science.

[The Xl]

Cigar doesn't understand.

That goes for like pretty much every topic on any issue ever.

[nathanbforrest45]

So would black teenagers rather be unemployed at $15.00 an hour or employed at $8.00 an hour? That's really the question.

[hanger4]

Here is Laffer's quote; 'The minimun wage is the black teenage UNEMPLOYMENT act. It is the guaranted way of holding the poor, the minorites and the disenfranchised, out of the mainstream is if you price their services to high'. What's wrong with this statement Cigar ??

[patrickt]

It's hard for some to understand that when you drop out of school at age fifteen, go to jail at age sixteen, when you hit the streets and actually want a job, you get the lowest paying job around. Very few jobs don't pay more than minimum wage, even WalMart, but, whatever's lowest is for you.

And, if a business has a certain amount to spend on employee wages and benefits and the government raises the wages or the cost of benefits the business hires fewer employees.

Liberals prefer blacks not working. Don't expect them to do anything to improve employment in minority communities. When the liberals flood communities will suddenly legal, and voting, illegal aliens, they're be driving to get all of them unemployed, too.

[McCool]

It's hard for some to understand that when you drop out of school at age fifteen, go to jail at age sixteen, when you hit the streets and actually want a job, you get the lowest paying job around. Very few jobs don't pay more than minimum wage, even WalMart, but, whatever's lowest is for you.

And, if a business has a certain amount to spend on employee wages and benefits and the government raises the wages or the cost of benefits the business hires fewer employees.

Liberals prefer blacks not working. Don't expect them to do anything to improve employment in minority communities. When the liberals flood communities will suddenly legal, and voting, illegal aliens, they're be driving to get all of them unemployed, too. And yet they still get away with blaming it all on Conservatives.

[jillian]

And yet they still get away with blaming it all on Conservatives.

or maybe you should stop "stopping and frisking" young black males and stop breaking up families for pot busts.

[hanger4]

or maybe you should stop "stopping and frisking" young black males and stop breaking up families for pot busts.

[hanger4]

or maybe you should stop "stopping and frisking" young black males and stop breaking up families for pot busts.WTF has any of your screed got do do with the miminum wage ??

[jillian]

WTF has any of your screed got do do with the miminum wage ??

my "screed"? perhaps you should go back and read patrick's rant about black people.

you might also want to look up the definition of screed. my comment was neither a long speech nor a rant.

words matter.

have a good day.

[Mainecoons]

or maybe you should stop "stopping and frisking" young black males and stop breaking up families for pot busts.

Aside from the question of how you break up already broken up families with single parents if they are lucky, I agree that you New Yorkers deserve to have as high a murder rate as Chicago.

Go for it!

[hanger4]

my "screed"? perhaps you should go back and read patrick's rant about black people.you might also want to look up the definition of screed. my comment was neither a long speech nor a rant.words matter.have a good day.I'm sorry little one, allow me rephrase, WTF has your post got to to with the minimum wage ??

[McCool]

or maybe you should stop "stopping and frisking" young black males and stop breaking up families for pot busts. You have no idea what you're saying here, and neither do I.

[monty1]

Laffer is indeed one of the fathers of supply side economics, and alas, one of it's last adherents too. If he had said that racism caused the fact that a minimum wage would benefit black teenagers most, he would have had it right. The proof that he is mostly concerned with his racist agenda is that he didn't and would rather ignore the root of the problem in the US.

[jillian]

Laffer is indeed one of the fathers of supply side economics, and alas, one of it's last adherents too. If he had said that racism caused the fact that a minimum wage would benefit black teenagers most, he would have had it right. The proof that he is mostly concerned with his racist agenda is that he didn't and would rather ignore the root of the problem in the US.

people who believe in the laffer curve don't even believe it kicks in until 70% tax rate.

[jillian]

I'm sorry little one, allow me rephrase, WTF has your post got to to with the minimum wage ??

your lack of understanding is not my problem.

i'd worry about yourself, little boy.

[jillian]

You have no idea what you're saying here, and neither do I.

intentional refusal to comprehend is your issue. not mine. and your intentional refusal to comprehend certainly does not indicate any lack of understanding on my part.

try reading with comprehension next time.

[monty1]

people who believe in the laffer curve don't even believe it kicks in until 70% tax rate.

Wrong! You've got it ass backwards. It's people who don't believe in it that go with 70%, 80%, or even 90%.

[Peter1469]

people who believe in the laffer curve don't even believe it kicks in until 70% tax rate.

Do you have a source for that? I suspect that the Laffer curve kicks in at different tax rates depending upon multiple factors.

Just making that statement shows me that you understand the concept. That is more than I can say for most. :wink:

[jillian]

Do you have a source for that? I suspect that the Laffer curve kicks in at different tax rates depending upon multiple factors.

Just making that statement shows me that you understand the concept. That is more than I can say for most. :wink:

start here:

http://www.csmonitor.com/Business/Growthology/2010/0820/Where-does-the-Laffer-curve-peak

and you can look at this:

http://voices.washingtonpost.com/ezra-klein/2010/08/where_does_the_laffer_curve_be.html

but be aware that the real economists are sited… then a bunch of political types make up numbers.

then there is this from the same link:


Bruce Bartlett (http://capitalgainsandgames.com/about-site), columnist, Forbes.com; former adviser to Reagan and Bush "I would hate to venture a specific number.... I would, however, say that I think the top rate could be quite a bit higher than it is without significantly impairing incentives or leading to excessive amounts of tax avoidance. I think 50 percent is an important threshold and I would be very reluctant to go higher even if it raised net revenue.... Anthony Atkinson, probably the leading public finance economist in England,estimates (http://ftp.iza.org/dp4937.pdf) (PDF) that the top rate could go as high as 63% to 83% before it became counterproductive in terms of revenue...The European Central Bank...finds (http://www.ecb.int/pub/pdf/scpwps/ecbwp1174.pdf) that only two European countries are on the wrong side of the Laffer Curve. All other countries could raise substantial additional revenue by raising tax rates."
"Since our rates are much lower than those it Europe, it suggests that we have a very long way to go before the top rate became counterproductive."


and why wouldn't i understand the concept? :rolleyes:

[Peter1469]

Thanks.

Again, I maintain that the number is fluid. The strength of the economy for example affects how taxes impact the economy.

[McCool]

try reading with comprehension next time. I did. And you don't make any sense.

[Mainecoons]

So some guy in socialist England thinks they can tax more than half of income and there won't be tax avoidance in the U.S.?

Perhaps a little history lesson would be helpful for Jillian. I was there when the rates in the U.S. were that high and there was a helluva lot of tax sheltering and avoidance, including my own participation in oil drilling shelters.

Some people never learn. That's because they are abysmally ignorant of history and deluded into thinking that government can take most of what people earn without repercussions.

You might want to look in your own back yard, Jillian, and see how many people have left NY state because of taxes.

[monty1]

Jillian is obviously very confused about the Laffer curve. She is trying to say that taxing 70% or higher is point 'A' on the Laffer curve. Point 'A' is of course the point at which raising taxes further results in supply side economics "ceasing" to work anymore. The whole issue with the Laffer curve is that the gov can tax to a certain point, that being point 'A' and it will raise more in revenue. Then a point "A" is reached where taxing more is counter productive.

The purpose Laffer, Mundel, Wanniski, and others had with creating the Laffer curve was to keep taxation down, not to make it higher. For example tax less % wise and bring in more revenue. Therefore, it is opponents of supply side economics that will say that point 'A' can be as high as 70%, 80%, or even 90%, not adherents to the principle. Sheesh!

What a shame that some people will presume to be able to talk about issues that they have no chance of understanding!

[monty1]

So some guy in socialist England thinks they can tax more than half of income and there won't be tax avoidance in the U.S.?

Perhaps a little history lesson would be helpful for Jillian. I was there when the rates in the U.S. were that high and there was a helluva lot of tax sheltering and avoidance, including my own participation in oil drilling shelters.

Some people never learn. That's because they are abysmally ignorant of history and deluded into thinking that government can take most of what people earn without repercussions.

You might want to look in your own back yard, Jillian, and see how many people have left NY state because of taxes.

You seem to be talking as if you are an adherent to the Laffer curve. For example, lower taxes and bring in more revenue. Right? Or are you just blowing smoke as you did with me before?

[Mr. Freeze]

The Laffer Curve like all other economic predictive tools is not for the purpose of generating real value, real production, but to understand the tipping point of taxation on large corporations. Government officials usually disregard start ups and mid-sized businesses (although Kennedy did not).

It is a simple fact that people start businesses and work for businesses not so that they may pay taxes but so they can maximize after tax incomes.

Many economic think tanks, and I believe the rise of agorism is at the heart of it, are seeing that underground economies should be taken into consideration, as well. There are 2-3 trillion dollars in cash unaccounted for, floating around the country that people use to buy services and products. This secondary economy rises with taxation and is not relegated to businesses offshoring but people on unemployment insurance, people on entitlements, stay at home parents babysitting in their homes, etc.

[Peter1469]

That is a very good point, many people over look the underground economy.


The Laffer Curve like all other economic predictive tools is not for the purpose of generating real value, real production, but to understand the tipping point of taxation on large corporations. Government officials usually disregard start ups and mid-sized businesses (although Kennedy did not).

It is a simple fact that people start businesses and work for businesses not so that they may pay taxes but so they can maximize after tax incomes.

Many economic think tanks, and I believe the rise of agorism is at the heart of it, are seeing that underground economies should be taken into consideration, as well. There are 2-3 trillion dollars in cash unaccounted for, floating around the country that people use to buy services and products. This secondary economy rises with taxation and is not relegated to businesses offshoring but people on unemployment insurance, people on entitlements, stay at home parents babysitting in their homes, etc.