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Mr. Obama proves again either that he has no concept of basic economics or knows better but choses to pander to the masses who feel government will meet their basic needs.
Pretending that the president has any idea of how the economy works only hurts the middle and lower class. Why not set the minimum wage at $100 an hour? That would solve all our problems....in his world.
The road to hell is paved with good intentions, particularly in the kooky alternate universe inhabited by Obama, Dayton, and their DFL supporters.
Listening to Obama and Dayton, you'd think that all minimum wage earners are consigned to a lifetime of grinding poverty, forever slaving away at a chintzy $7.25 an hour.
The reality is that a minimum wage job is the first rung on the economic ladder for young unskilled workers, who will move up as they gain job experience. The higher the minimum wage, the greater the disincentive for employers to hire these workers.
The tragic irony of all this is that minority communities are the hardest hit by minimum wage increases.
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