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The broken window fallacy summed up in one minute. Alternate Channel: www.youtube.com
The broken window fallacy summed up in one minute. Alternate Channel: www.youtube.com
March 9, 2010 at 6:50 am
you do realize that not all extensions of Socialism or even Communism involve the government, right?
Anarcho-Socialism
Anarcho-Communism (closest label to my stance)
Anarcho-Syndicalism
…
where ever you have a common pooling of resources for the needs of all involved in the society, you have socialism.
March 9, 2010 at 7:44 am
I understand completely.
I’m not advocating RAISING minimum wage. I’m arguing that a system with no minimum wage benefits nobody except the employer. The rest of us end up subsidizing the shortfall.
Would you seriously expect someone to work for 50c an hour, even if that meant they couldn’t afford to buy enough food for their family?
March 9, 2010 at 8:16 am
Depends on where they live. My entry level workers in Somersworth have no difficulty. They get a little more than that. They live in apartments in Somersworth, one of them lives in Barrington. In rural NH the rent is dirt cheap as opposed to Manchester Concord or Downtown portsmouth. So its no problem. My Portsmouth employees get more pay because its skilled labor. Its in demand so the pay likewise IS higher. These other guys can use the money to learn new skills and get paid more.
March 9, 2010 at 8:58 am
The taxes are paid for by everyone – not just you. That’s why an employer letting the government subsidize a wage that’s below what a person can live on is wrong. They’re simply letting everyone else pay towards their operating costs.
Average income in Texas is $32,574
In NH it’s $38,590 (7th highest in the country)
are you sure that a full time salary of less than $12,480 would allow them to live comfortably?
March 9, 2010 at 9:12 am
They could if they lived in Texas or in rural New Hampshire (Which one of them does) but not in socialistic areas. Then again if taxes are increased and I have to pay more fees how can I afford to pay them? How can I afford to hire more workers without having to turn to the big government? I doubt they’d help me anyway the way they do Walmart and these other places. Whats more think about the workers who have to deal with sales taxes, gas taxess mandatory insurance ETC.
March 9, 2010 at 9:28 am
You sound like a fair employer. Entry level is fine and earning raises through their increasing experience is great.
But could your employees live comfortably and support their families on less than $48 a day? If not, then where will they get the money from?
Nobody takes the lowest paid job through choice – they take it because they have no choice. Jacob’s claim that an economics textbook of supply and demand has shown it to be a “fair wage” is just nonsense.
March 9, 2010 at 9:35 am
(CONT) what you don’t understand is that some low wage jobs are entry level or low skill temp jobs. that’s how I got started. I gained experience then with that I progressd to higher wages. Raising minimum wage or raising taxes prevents workers from entering the work force, and climbing the ladder. You are keeping them from getting their foot on that ladder. Those 3 people will get another raise in 6 more months if they stay on. My other business starts on higher wages because it a skilled job.
March 9, 2010 at 10:22 am
I am a small business owner. I own two businesses. On in Somersworth NH that I co-own with my brother and father another in Portsmouth I own myself. I pay my workers as fair a wage as possible. But some wages are entry level. To start out. After 6 months to a year they can get a raise. I hired 3 people to work at my Somersworth business at min wage to start them out. eventually they got a couple dollars more. I know them well, I know they live comfortably in their own homes.
March 9, 2010 at 10:25 am
It’s selfish to hire workers and then refuse to pay them a wage they can live on.
It’s selfish to expect that shortfall to be made up through welfare payments, paid for by everyone else’s taxes
It’s selfish to expect the taxpayer to fund your business for you.
March 9, 2010 at 11:09 am
Selfishness!? Its selfish to no be able to afford to hire workers? Seriously you need to get an education! You know nothing about how a small business works.
March 9, 2010 at 11:28 am
@mainestategop
Oh…now I understand…
Yes, I REALLY hate it when employers can’t afford to grow their businesses because of all these troublemakers who insist on being paid fair wages. Can’t they see how their selfishness is hurting the economy?
If only the meddling government hadn’t outlawed slavery and child labor.
March 9, 2010 at 11:42 am
And why don’t you learn some economics. You take from an employer, he can’t afford to hire more. Common sense.
March 9, 2010 at 12:06 pm
@JacobSpinney
You made no argument to which I might cordially respond; just a loaded claim in visual form that you obviously do not understand. If you would like to make a coherent argument and provide some evidence to back it up, be my guest. Otherwise, stop grandstanding, and stop pretending that you have a clue what you’re talking about.
March 9, 2010 at 12:13 pm
LOL
You’re right. I need to get back to the Academy of Marxist Crybabies Who Don’t Know What It’s Like To Work And Have Responsibilities (Berkeley, CA)
Next time, why don’t you just write
“Book learnin’ makes my head hurt”.
idiot.
March 9, 2010 at 12:16 pm
Yeah, don’t mind these clowns below. Just a bunch of Marxist cry babies who got dropped on their heads. They don’t know what its like to work and have responsibilities like the adult world does.
March 9, 2010 at 1:07 pm
@billburns2 shouldn’t you be at school?
March 9, 2010 at 1:28 pm
I’m sure that insulting my intelligence rather than responding to the argument whatsoever will win you many debate points.
March 9, 2010 at 2:02 pm
Really? Every job created by government also destroys “a bunch”? You must be a fucking scientist!
Every mechanism you championed with regard to a person having a job in the private sector applies equally well to government jobs. Do you realize that? Do you even know that what you’re describing is called? Or why it happens? Or that empirical studies measuring it have found it to be extremely small? Put your camera down and open a fucking book.
March 9, 2010 at 2:51 pm
So socialists destroy jobs by taxing income?
I suppose landlords and shopkeepers destroy jobs by charging people for their goods as well?
This has to be the stupidest video you’ve made, son
March 9, 2010 at 3:33 pm
Haha gotta love the Broken Window fallacy – excellent summary!
March 9, 2010 at 4:11 pm
I thought they just printed money out of thin air. (which reduces the value of all the money in circulation, which is like an invisible tax) oh right nm.
March 9, 2010 at 4:26 pm
Thanks!
March 9, 2010 at 5:17 pm
Lol, nice Bastiat’s broken window fallacy summed up very well indeed! well done sir!
March 9, 2010 at 5:45 pm
Yeah I don’t if it would be mercantilism either. Still it was funny. Maybe complete economic idiot would label it well.
March 9, 2010 at 6:02 pm
yes, of course. And perhaps in 50 years from now we will also be told that the glorious US Government invented YouTube, Google and all of the internet services, while the free enterpreneurship will be committed down the Orwellian memory hole.
NOT.
btw, have you chosen the way you will kill yourself when the Day The Dollar Collapsed comes?