If you offer people something that is too good to be true, you will always find takers. Ask Bernie Madoff. Or ask Barack Obama, who recently proposed an increase in the minimum wage. That's an idea that suits the natural predilections of many people enough to distract them from the unsentimental and unwelcome logic of economics, writes Steve Chapman. The proposal rests on the assumption that the government can decree the price of a commodity—in this case, labor—in defiance of the dictates of the market, without ill effects. But that view requires a heroic suspension of disbelief.
"I chose to be that guy who didn't issue the apology," says Daniel Elder. "Things went from there and it wasn't good."
And as many as 75 percent of middle income households face a tax increase under Biden's plan, even though the highest-earning households will pay the vast majority of the costs.
Retired Engineer Offers Free Expert Testimony for Flood Victims. Licensing Officials Threaten Him With Criminal Charges.
Wayne Nutt worked as an engineer for decades. But because he's not licensed, North Carolina's engineering board says that he can't share his expertise in public.
Biden's Latest Round of Student Loan Debt Forgiveness Is an Indictment of Federal Higher Education Subsidies
Thirty-five years after Bill Bennett sounded the alarm about student loan defaults, we still haven't learned a damn thing.