Bernie Sanders' Triple Idiocy: Minimum Wage, Hairbrained College Push, Cancel Student Debt, all enabled by Facebook's Meta, is catastrophic for the health of the nation, yet demagogues like Bernie Sanders with blinders on, push full speed ahead.
And Meta doesn't like me saying it - Facebook's election interference again?
College for All and Cancel All Student Debt - Bernie Sanders
Minimum wage workers in the state of Washington will see an increase on their checks next year to $16.66 an hour. This increase will take effect on January 1. As of January 2024, Washington had the highest state minimum wage rate at $16.28 per hour. Washington, D.C. has the highest rate overall at $17.00 an hour.
The Street's Daniel Kline 'reports'. When Rubio's first shared that it was closing 48 California locations, it tried to make the decision seem strategic and blamed it on a new law in the state that increased the minimum wage for fast-food workers. The law, which went into effect April 1, forced the affected chains to raise the minimum wage to $20 from $16. 'Seem strategic' - get it?
The primary purpose of minimum wage is to provide workers with a level of income that allows them to meet their essential needs. It is intended to act as a safeguard against extremely low wages and helps reduce poverty and income inequality known as the Great Gatsby Curve.
Pew Research blames the Great Gatsby Curve on a number of factors, including “technological change, globalization, the decline of unions and the eroding value of the minimum wage.”
But the root cause of the Great Gatsby Curve or The “Academic Great Gatsby Curve” in Philosophy is Insanity, not racism, technological change or minimum wage. We call this Insanity or The Great Whacky Curve, Divergent Thinking Defficiency.
Meanwhile shoppers in Washington state will continue to see an increase in the number of business closures as a result. According to a report from Lending Tree,
Washington State is the nation's top state for small business failures with 40.8 percent of small businesses failing in the first year, compared to the national average of just over 23.2 percent.
The number of corporate bankruptcy filings as of June 2024 surpassed half-year figures seen in over a decade, according to S&P Global Market Intelligence,
Minimum wages, not unlike DEI policies, stifle job opportunities for low-skill workers, youth, and minorities, which are the groups that policymakers are often trying to help with these policies. In the case of DEI, the groups policy makers try to help, often get the short-changed, known as the Pareto Rule of Equity: 90% of those intended to be helped, get the short end of the stick.
David Neumark and William Wascher looked at the academic research on the effect of laws mandating wage floors for their book “Minimum Wages." They found that these laws lead to a “reduction in employment opportunities for low-skilled” workers. The authors also found that minimum wage laws do not help reduce the number of families living at the poverty line. In fact, the minimum wage may harm low-income families by reducing the number of jobs available for which they are qualified. They also found that “minimum wages appear to inhibit skill acquisition by reducing educational attainment and perhaps training, resulting in lower adult wages and earnings.” They concluded that minimum wage laws do harm in the short run and in the long run. The laws “have adverse longer-term effects on wages and earnings, in part by reducing the acquisition of human capital.”
Now consider High-income earning Joe is currently living paycheck to paycheck. Average Joe Went From the Great Resignation to jobless in two years.Poor Joe can't afford food, much less medication. Home mortgage debt, currently at $12.3 trillion. And credit card debt , currently at $1.2 Trillion
Americans' collective medical debt totaled over $195 billion in 2019.
100 million people in America are saddled with medical debt.
When even NBC News reports Everybody Hates Bidenomics, you know the economy is not doing well.
Bidenomics didn’t improve the economy. Instead, it sparked record-breaking 40-year inflation high An annual income loss of $7,300 for the average American family A 35.5% average credit card debt increase. Predictable. Among the disadvantages of increasing the minimum wage is the consequence of businesses increasing prices, thus fueling inflation.
As of July 2024, the American economy had 7.7 million job openings. This is up from less than 5 million a decade ago - Yet Washington is one of the most 'educated' states, while the most on-demand jobs of the next decade do not require a college degree.
Legislation and Minimum Wage
In 1918, Congress enacted a law guaranteeing a minimum wage to women and children employed in the District of Columbia. D.C.’s Children’s Hospital, which employed many women, sought an injunction against enforcing the law. The injunction was denied in the trial court but granted in the intermediate appellate court.
In Adkins v. Children's Hospital of D. C., the majority struck down the minimum wage law as unconstitutional. The Court relied on Lochner v. New York, which struck down a law limiting bakers’ working hours under the Due Process Clause, which they believed contained a right of “freedom to contract.” In Adkins, the Court reasoned that the same reasoning extended to a minimum wage law. Employer and employee, according to the majority, had a constitutional right to contract in whatever manner they pleased. Thus, the minimum wage law unjustly interfered with the freedom to contract. Moreover, the Court reasoned that women do no merit greater protection than men.
Lawmakers have tried to raise the federal minimum wage on many occasions. The U.S. House of Representatives passed an amended version of the Raise the Wage Act of 2019 in July of that year to gradually increase the federal minimum wage to $15 an hour by 2025. But the bill died in the Senate. President Joe Biden tried to increase the rate for federal contract workers to $15 per hour, but that motion was blocked by a U.S. district judge in September 2023.
To make matters worse, nearly 10 million jobs across America are still vacant because of harebrained decisions and college push, according to 'Dirty Jobs' host Mike Rowe.
According to the Atlantic’s Meg St-Esprit the reason most of students do not choose trade schools is mostly due to parents - "when college is held up as the one true path to success, parents—especially highly educated ones—might worry when their children opt for vocational school instead." In this context "highly educated" may be what Mike Rowe refers to as harebrained decisions given the accumulated $1.8 trillion worth of student loans and trillions more in useless degrees.
Then there's the inverse relationship between running a higher education organization and the value of a degree. The Universities in Oregon say the costs of operating a higher education institution are becoming more and more overwhelming.
If the costs of operating a higher education institution are becoming
more and more overwhelming, and the value of a college education is becoming less and less valuable as evidenced by the increasing student loan debt and unemployed degree holders, where is the money going, you may ask. The money goes mostly to administration. That's a classic definition of Insanity.
At the same time, with a seemingly bottomless budget, The Oregon football team took over the No. 1 spot in both the Associated Press and USA coaches polls on Sunday, earning the top national ranking for the first time since 2012. And what does college football have to do with higher education? Nothing! After all, And guess what? the Pareto Rule of College Sports rules: 99% of college players never make it to the professional league. As Collins C. Rhodes writes, "after a few years of student athletes legally making money from name, image, and likeness deals, colleges themselves will be paying student athletes for playing sports. Gone are the days of amateurism. The days of professional college sports are here."
Pew Research blames the Great Gatsby Curve on a number of factors, including “technological change, globalization, the decline of unions and the eroding value of the minimum wage.”
But the root cause of the Great Gatsby Curve or The “Academic Great Gatsby Curve” in Philosophy is Insanity, not racism, technological change or minimum wage. We call this Insanity or The Great Whacky Curve, Divergent Thinking Defficiency.
Meanwhile shoppers in Washington state will continue to see an increase in the number of business closures as a result. According to a report from Lending Tree,
Washington State is the nation's top state for small business failures with 40.8 percent of small businesses failing in the first year, compared to the national average of just over 23.2 percent.
The number of corporate bankruptcy filings as of June 2024 surpassed half-year figures seen in over a decade, according to S&P Global Market Intelligence,
Minimum wages, not unlike DEI policies, stifle job opportunities for low-skill workers, youth, and minorities, which are the groups that policymakers are often trying to help with these policies. In the case of DEI, the groups policy makers try to help, often get the short-changed, known as the Pareto Rule of Equity: 90% of those intended to be helped, get the short end of the stick.
David Neumark and William Wascher looked at the academic research on the effect of laws mandating wage floors for their book “Minimum Wages." They found that these laws lead to a “reduction in employment opportunities for low-skilled” workers. The authors also found that minimum wage laws do not help reduce the number of families living at the poverty line. In fact, the minimum wage may harm low-income families by reducing the number of jobs available for which they are qualified. They also found that “minimum wages appear to inhibit skill acquisition by reducing educational attainment and perhaps training, resulting in lower adult wages and earnings.” They concluded that minimum wage laws do harm in the short run and in the long run. The laws “have adverse longer-term effects on wages and earnings, in part by reducing the acquisition of human capital.”
Now consider High-income earning Joe is currently living paycheck to paycheck. Average Joe Went From the Great Resignation to jobless in two years.Poor Joe can't afford food, much less medication. Home mortgage debt, currently at $12.3 trillion. And credit card debt , currently at $1.2 Trillion
Americans' collective medical debt totaled over $195 billion in 2019.
100 million people in America are saddled with medical debt.
When even NBC News reports Everybody Hates Bidenomics, you know the economy is not doing well.
Bidenomics didn’t improve the economy. Instead, it sparked record-breaking 40-year inflation high An annual income loss of $7,300 for the average American family A 35.5% average credit card debt increase. Predictable. Among the disadvantages of increasing the minimum wage is the consequence of businesses increasing prices, thus fueling inflation.
As of July 2024, the American economy had 7.7 million job openings. This is up from less than 5 million a decade ago - Yet Washington is one of the most 'educated' states, while the most on-demand jobs of the next decade do not require a college degree.
Legislation and Minimum Wage
In 1918, Congress enacted a law guaranteeing a minimum wage to women and children employed in the District of Columbia. D.C.’s Children’s Hospital, which employed many women, sought an injunction against enforcing the law. The injunction was denied in the trial court but granted in the intermediate appellate court.
In Adkins v. Children's Hospital of D. C., the majority struck down the minimum wage law as unconstitutional. The Court relied on Lochner v. New York, which struck down a law limiting bakers’ working hours under the Due Process Clause, which they believed contained a right of “freedom to contract.” In Adkins, the Court reasoned that the same reasoning extended to a minimum wage law. Employer and employee, according to the majority, had a constitutional right to contract in whatever manner they pleased. Thus, the minimum wage law unjustly interfered with the freedom to contract. Moreover, the Court reasoned that women do no merit greater protection than men.
Lawmakers have tried to raise the federal minimum wage on many occasions. The U.S. House of Representatives passed an amended version of the Raise the Wage Act of 2019 in July of that year to gradually increase the federal minimum wage to $15 an hour by 2025. But the bill died in the Senate. President Joe Biden tried to increase the rate for federal contract workers to $15 per hour, but that motion was blocked by a U.S. district judge in September 2023.
To make matters worse, nearly 10 million jobs across America are still vacant because of harebrained decisions and college push, according to 'Dirty Jobs' host Mike Rowe.
According to the Atlantic’s Meg St-Esprit the reason most of students do not choose trade schools is mostly due to parents - "when college is held up as the one true path to success, parents—especially highly educated ones—might worry when their children opt for vocational school instead." In this context "highly educated" may be what Mike Rowe refers to as harebrained decisions given the accumulated $1.8 trillion worth of student loans and trillions more in useless degrees.
Then there's the inverse relationship between running a higher education organization and the value of a degree. The Universities in Oregon say the costs of operating a higher education institution are becoming more and more overwhelming.
If the costs of operating a higher education institution are becoming
more and more overwhelming, and the value of a college education is becoming less and less valuable as evidenced by the increasing student loan debt and unemployed degree holders, where is the money going, you may ask. The money goes mostly to administration. That's a classic definition of Insanity.
At the same time, with a seemingly bottomless budget, The Oregon football team took over the No. 1 spot in both the Associated Press and USA coaches polls on Sunday, earning the top national ranking for the first time since 2012. And what does college football have to do with higher education? Nothing! After all, And guess what? the Pareto Rule of College Sports rules: 99% of college players never make it to the professional league. As Collins C. Rhodes writes, "after a few years of student athletes legally making money from name, image, and likeness deals, colleges themselves will be paying student athletes for playing sports. Gone are the days of amateurism. The days of professional college sports are here."
Early in the year, the Washington University football team, went from the precipice of their first national title in more than three decades to a program in shambles. Many players headed to the NFL draft, others were headed to the transfer portal, including the presumptive next quarterback. To put a fork in it, Kalen DeBoer left the school to take the head job at Alabama. DeBoer walked away from the potential of a massive new contract with the Huskies for the opportunity of leading one of the premier programs in the country with resources and cachet that new Washington athletic director Troy Dannen couldn’t match. As edge rusher Zion Tuputola-Fetui posted on social media “Sometimes we have to be reminded it’s all a business.” it indeed is a business that benefits a small percentage of the student athlete population
Makes you wonder, why is it demagogues like Bernie Sanders continue pushing ahead with Bernie's Triple Idiocy.
Makes you wonder, why is it demagogues like Bernie Sanders continue pushing ahead with Bernie's Triple Idiocy.
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