During a recent attempt at trying to once again sell Obamacare as a positive, President Obama ran into a bit of unforeseen trouble.
A fry cook by the name of Darnell Summers confronted the President and told him that because of Obamacare he was pushed from full time work to part time.
“We were broken down to part time to avoid paying health insurance,” he said. Summers explained that he makes $7.25 an hour and has been on strike four times seeking a wage increase. “We can’t survive, it’s not livin’,” he said.
Of course, the President tried to play it off as a minimum wage problem – but being the economics novice that he is, he doesn’t realize that if you raise the minimum wage then prices will also inflate. It’s basic economics.
Liberals continue to try to claim that raising the minimum wage will help the poor – but it hasn’t yet. Nor will it in the future.
Our government meddling in the economy has artificially stoked inflation, which means that wages can’t keep up with prices. Forcing an increase in the minimum wage may help for a short while, but it doesn’t cure the larger problem. Very quickly inflation will again outpace wage growth and we’ll simply have to increase the minimum wage again. At some point it will become a moot point – it won’t matter how much you increase wages because our money will be worthless… and that point isn’t as far off as you think.
The answer for Mr. Summers’ problem is to get the government out of the way. Repeal Obamacare and it will ease some of the pain. Lower taxes and it will help even more. Rescind some of the many regulations that make being in business more difficult and that will most certainly help. If we do all these things together and minimize government involvement, the economy and our prices and wages will regulate themselves. Things will improve for the vast majority of Americans… if we tie the government’s hands and free our economic potential.