“Does Joe Biden Hate Black Teenagers?” Rand Paul Routs $15 Minimum Wage Miasma

“Does Joe Biden Hate Black Teenagers?” Rand Paul Routs $15 Minimum Wage Miasma

“‘Why does Joe Biden hate Black teenagers?’ should be the question. Why does Joe Biden want to destroy all of these jobs?”

During an interview with Fox host Sean Hannity, GOP Senator Rand Paul pummeled the Biden administration’s decision to push for a minimum wage increase that would put 4 million people out of work.

“The people who lose their jobs first when you hike up the minimum wage are Black teenagers,” Paul said.

And despite the ramblings of various left-ist economists, claiming this or that study shows no impact from such a drastic minimum wage hike…

…common sense (and historical experience) for anyone who has ever run an actual business is that raising costs on the lowest-skilled workers in your organization will ripple all the way up, forcing either higher prices to the end-user (eradicating the ‘living wage’ improvement) and or forcing layoffs as management hold margins and reduce costs (the least-skilled first).

And if all that sounds very racist, the following chart shows that Senator Paul is, of course, correct…

Source: @McClellanOsc

That’s not an “alternative” fact, that’s the awkward reality of ‘unintended consequences’ from nanny-state intervention write large for the last 70 years.

Need some more ‘facts’?

According to a recent nonpartisan analysis by the Congressional Budget Office, President Biden’s effort to raise the federal minimum wage from $7.25 to $15 per hour is estimated to kill as many as 3.7 million jobs

Based on the CBO’s median estimate,1.3 million workers who would otherwise be employed would be jobless in an average week in 2025, an 0.8% reduction. However, the CBO also noted that a federal minimum wage of $15 per hour would increase the wages of 17 million workers in an average week in 2025.

While the $15 federal minimum wage would boost workers’ earnings, the CBO says that some of the higher earnings would be offset by higher rates of joblessness.

Paul also blasted Biden for canceling the Keystone XL oil pipeline:

“It’s kind of a strange beginning to an administration,” Paul said.

“You’re going to put your best foot forward and the first thing you say is, ‘This is how I’m going to kill jobs’ … ‘I’m going to kill thousands of jobs of the Keystone pipeline with ending it.'”

Watch the full interview below:

Tyler Durden
Sat, 01/23/2021 – 17:20

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Author: Tyler Durden

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