Thursday, January 2, 2014

Et tu, Chas?

Herr Krauthammer--and that man is a doctor!--exposes the lack of minimum standards of economic literacy at Fox News;
CHARLES KRAUTHAMMER: ....Look, it's an axiom of economics: if you raise the price of everything, you are going to lower demand. So there are going to be jobs lost. I do think that raising the minimum wage gradually and indexing is the way to do it. If you index it, it stops being a political issue. It
MCKELWAY: So is $9 a starting point?
KRAUTHAMMER: I think what we really ought -- what conservatives ought to do is to say if you can't feed a family on this and as a result of our lousy recovery, a lot of people are depending on this wage, then I think for people who are the bread winners in a family, it ought to be raised. But I think what you want for entry level jobs -- it's really going to hurt teenagers, it's really going to hurt minorities because they are going to lose the jobs which would help them to get started. 
I would have a two-tiered system. And I think that probably would be a way, a reasonable answer that Republicans and conservatives could offer. It's not heartless but it keeps in mind how this would hurt -- 
STEVE HAYES: But why would you want that if it's going to cost the very people it intends to help? It would cost those jobs.
KRAUTHAMMER: Because I do think if somebody is the only wage earner in the family I think it would be humane to raise it to a level they can cover their expenses.
Humane to cost 'the only wage earner in the family' his/her job?

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