If I Were a Racist…
And I thus wanted to do whatever I could to harm minorities, the first thing I would do would be to advocate for raising the minimum wage.
Yes, you heard me correctly.
We have an epidemic of teen unemployment today, but it is far, far worse among black teens than it is white. White teen unemployment (this involves teens who want jobs, not all teens) is 20%, an unacceptably high rate. But while Al and Jesse were race-baiting over a jury’s decision in Florida, the black teen unemployment rate climbed to 41.6%. This is an eight-point climb over the same numbers from March of this year; in four months, eight points.
Enter Milton Friedman, whose 100th birthday is today. Friedman explains why a chief culprit in the entire scenario is the existence of minimum wage:
Please watch this video. It explains basic economics in simple terms. Friedman would turn over in his grave if he knew how badly things have gone for today’s youth–but based upon his reasoning, it’s entirely predictable.