Minimum Wage and the Handicapped Worker

While there’s no shortage of advocates for a higher minimum wage, many are unaware that the Fair Labor and Standards Act of 1938 allowed for employees with disabilities to be exempt from the federal standard. In doing so, the U.S. government implicitly acknowledged that minimum wage laws destroy jobs, especially those filled by low skilled, uneducated persons.

Hashtags: #minimumwage #Disability #DisabilityRights #DisabilityActNG #government #jobs #EmployeeAdvocacy #wages #wagepeace

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Citations/Source Material:

Freiling, N. (2014, September 18). Even the Feds Admit Minimum Wages Cause Unemployment. Retrieved May 16, 2019, from https://mises.org/library/even-feds-admit-minimum-wages-cause-unemployment

Rothbard, M. N. (2013, February 15). Outlawing Jobs: The Minimum Wage. Retrieved May 16, 2019, from https://mises.org/library/outlawing-jobs-minimum-wage

The Fair Labor Standards Act of 1938. U.S. Department of Labor. Retrieved May 16, 2019 from https://www.dol.gov/whd/regs/statutes/FairLaborStandAct.pdf

Campbell, A. F. (2018, May 03). A loophole in federal law allows companies to pay disabled workers $1 an hour. Retrieved May 16, 2019, from https://www.vox.com/2018/5/3/17307098/workers-disabilities-minimum-wage-waiver-rock-river-valley-self-help

Neumark, D. & Wascher, W. L. (2007). Minimum Wages and Employment. Foundations and Trends in Microeconomics, 3(1-2), 1-182. doi:: 10.1561/0700000015 Retrieved from http://www.socsci.uci.edu/~dneumark/min_wage_review.pdf

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Why Andrew Yang’s Economics Fail

Democratic Presidential Candidate Andrew Yang has been rising in popularity lately, particularly due to his support of a Universal Basic Income (UBI)/Freedom Dividend and a Value Added Tax (VAT). On February 12th, 2019, Yang appeared on the Joe Rogan Experience Podcast to explain his policy views. In this video, I debunk the Keynesian assumptions within Yang’s policies and demonstrate why his proposals cannot improve the economy in the long term.

Hashtags: #YangGang2020 #Yang2020 #FreedomDividend #AndrewYang #politics #government #UBI #VAT

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Original Video:

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Citations/Source Material:

Chen, S. A. (2014, October 29). Five Jobs That Transformed America. Retrieved March 20, 2019, from https://blogs.ancestry.com/cm/five-jobs-that-transformed-america/

Farm Population Lowest Since 1850’s. (1988, July 20). Retrieved March 20, 2019, from https://www.nytimes.com/1988/07/20/us/farm-population-lowest-since-1850-s.html

Hazlitt, H. (2017, June 12). Government Guaranteed Income is Not a Solution. Retrieved March 20, 2019, from https://mises.org/wire/government-guaranteed-income-not-solution

Why Alaska’s Experience Shows Promise for Universal Basic Income. (2018, May 10). Retrieved March 20, 2019, from http://knowledge.wharton.upenn.edu/article/alaskas-experience-shows-promise-universal-basic-income/

De Rugy, V. (2012, June 04). Hauser’s Law: This Reality Isn’t Negotiable. Retrieved March 20, 2019, from https://www.nationalreview.com/corner/hausers-law-reality-isnt-negotiable-veronique-de-rugy/

Sowell, T. (2014). Basic Economics. New York: Basic Books.

Gramlich, J. (2018, May 02). U.S. incarceration rate is at its lowest in 20 years. Retrieved March 20, 2019, from https://www.pewresearch.org/fact-tank/2018/05/02/americas-incarceration-rate-is-at-a-two-decade-low/

What is Universal Basic Income? (2019). Retrieved March 20, 2019, from https://www.yang2020.com/what-is-ubi/

Nikiforos, M., Steinbaum, M., & Zezza, G. (2017, August). Modeling the Macroeconomic Effects of a Universal Basic Income. Roosevelt Institute. Retrieved March 20, 2019, from http://rooseveltinstitute.org/wp-content/uploads/2017/08/Modeling-the-Macroeconomic-Effects-of-a-Universal-Basic-Income.pdf

Mani, A., Mullainathan, S., Shafir, E., & Zhao, J. (2013, August 30). Poverty Impedes Cognitive Function. Retrieved March 20, 2019, from http://science.sciencemag.org/content/341/6149/976.abstract

Rothbard, M. N. (2010, April 22). The Value-Added Tax Is Not the Answer. Retrieved March 20, 2019, from https://mises.org/library/value-added-tax-not-answer

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Riley Dennis Fails on Universal Basic Income (UBI)

I’ve debunked Universal Basic Income (UBI) in the past. However, when Hey Dude77 pointed out that Riley Dennis had come to its defense, I couldn’t resist the urge to debunk it again.

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Original Video:

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Citations/Source Material:

Freedman, D. H. (2016). Basic Income: A Sellout of the American Dream. MIT Technology Review. 119(4), 48-53.

Schneider, H. (2017). Universal Basic Income—Empty Dreams of Paradise. Intereconomics/Review of European Economic Policy, 52(2), 83-87.

Sowell, T. (2014). Basic Economics. New York: Basic Books.

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The Truth about Amazon HQ2 and New York

Everyone is talking about the #AmazonHQ2 situation. Should New York be offering tax incentives to Amazon? Should Amazon have chosen not to go forward with the deal? In this video, we discuss basic economics and demonstrate yet again that the problems with this deal begin and end with the government.

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Citations/Source Material:

Balfour, B. (2018, March 13). Politicians Are Rushing to Ink Cronyist Deal with Amazon | Brian Balfour. Retrieved February 12, 2019, from https://mises.org/wire/politicians-are-rushing-ink-cronyist-deal-amazon

McMaken, R. (2018, November 16). Why Politicians Love the Amazon Deal | Ryan McMaken. Retrieved February 12, 2019, from https://mises.org/wire/why-politicians-love-amazon-deal

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Marxist Economic Theory Easily REFUTED w/ Richard Wolff

Joined again by my elite level patron Nightshift10000, we take on Marxist Professor Richard Wolff. Appearing on the Jimmy Dore Show, Dr. Wolff attempted to explain Marxist economics and why they are superior to any other economic systems. It’s a shame he has not historical data to support his assertions, especially since his own students were involved in the failed government of Greece.

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Citations:

Hansen, H. (2003, July 22). Denmark: A Case Study in Social Democracy. Retrieved January 20, 2019, from https://mises.org/library/denmark-case-study-social-democracy

Heritage Foundation. (2018, February 2). 2018 Index of Economic Freedom. Retrieved January 20, 2019, from https://www.heritage.org/international-economies/commentary/2018-index-economic-freedom

Kristof, N. (2008, December 20). Bleeding Heart Tightwads. The New York Times. Retrieved from https://www.nytimes.com/2008/12/21/opinion/21kristof.html

Sowell, T. (2014). Basic Economics. New York: Basic Books.

Von Mises, L. (1998 [1949]). Human Action: A Treatise on Economics. Auburn, AL: The Ludwig von Mises Institute. Retrieved from https://mises.org/sites/default/files/Human%20Action_3.pdf

What Amazon does to wages. (2018, January 20). Retrieved January 20, 2019, from https://www.economist.com/united-states/2018/01/20/what-amazon-does-to-wages
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Robert Reich: The Big Economic Hoax

Robert Reich of Inequality Media would like you to believe that the reason the national debt is growing is because the rich aren’t paying their fair share of taxes. Not only is Reich ignorant of Hauser’s Law and the other realities pertaining to how much the government can hope to collect in tax revenues, but he also seems ignorant of the fact that under the Federal Reserve system, the government literally has to keep going into debt.

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Citations:

Mike Maloney’s Hidden Secrets of Money Episode 4: The Federal Reserve: The Biggest Scam in the History of Mankind:

Syrios, A. (2015, November 23). The Good Ol’ Days: When Tax Rates Were 90 Percent | Andrew Syrios. Retrieved January 15, 2019, from https://mises.org/library/good-ol-days-when-tax-rates-were-90-percent

Why Tax Cuts and Tax Hikes are Fundamentally the Same by My 2 Cents: https://my2centsvideos.com/2018/11/19/why-tax-cuts-and-tax-hikes-are-fundamentally-the-same/
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2 Day with 2 Cents LIVE (Jan 5, 2019)

This week’s episode will be a live broadcast, discussing current events to include the continuing government shutdown, Elizabeth Warren, Alexandria Ocasio-Cortez, and predictions about the economy for 2019.

Remember, 2 Day with 2 Cents will become a permanent live show at the end of the month if we don’t reach the $200 a month goal so if you’re able, please consider donating:

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What Aquaman Teaches about Government

For the first video of 2019, we’re reviewing the DC Comics blockbuster Aquaman. I loved this movie. Not only is it action packed with a great story line, but Amber Heard’s performance makes the film both sexy and a stunning success.

However, much like Black Panther, Aquaman presents the Kingdom of Atlantis as an impossibly advanced society. There is no way a kingdom which is ruled by a hereditary monarchy, where the monarch is chosen in ritual combat, would advance and prosper for thousands of years.

Aquaman is yet another reason to get people thinking about how prosperity and advancement comes from free interaction and free markets.

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The Case for Anarcho-Communism Debunked (w/ Nightshift10000)

Joined again by my elite level patron Nightshift10000, we review a video called “The Case for Anarchist Communism” from the channel Christopher Szabo. Anarcho-Communism is and ideological oxymoron. In such a society, if an individual decided to create a commodity and sell it for a profit, other members of the collective could either use force to stop him or not use force to stop him. If the former, the society is not an anarchy. If the latter, it is not a communist society.

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Original Video:

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Citations:

Avrich, P., & Miller, M. A. (2018, December 17). Peter Alekseyevich Kropotkin. Retrieved December 19, 2018, from https://www.britannica.com/biography/Peter-Alekseyevich-Kropotkin

Von Mises, L. (1949). Human Action. Auburn, AL: Ludwig Von Mises Institute.
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The Free Market and Politics: Cornelius Vanderbilt’s Steamboat “Monopoly”

For the second video in this series, I discuss Cornelius Vanderbilt and his activities in New York’s steamboat industry in the early 1800s. Some people like KnowledgeHub claim that Vanderbilt was one of the infamous “Robber Barons.” However, the facts show that Vanderbilt was in fact a savvy business owner who was competing against state enforced monopolies. In this case, that monopoly was Robert Fulton’s Steamboat Monopoly.

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Citations:

Biography.com Editors (Ed.) (2017, April 28). Cornelius Vanderbilt Biography. Retrieved December 5, 2018, from https://www.biography.com/people/cornelius-vanderbilt-9515195

Entrepreneurs and American Economic Growth Cornelius (Commodore) Vanderbilt. (2017, May 23). Retrieved December 5, 2018, from https://legacy.voteview.com/vanderb2.htm
Sourced from the University of Georgia.

Gordon, J. S. (1993). The Steamboat Monopoly. American Heritage Magazine, 44 (7), Retrieved December 5, 2018, from https://www.americanheritage.com/content/steamboat-monopoly

Hess, P. (2015, August 11). Early Years of Steamboating on the Hudson. Retrieved December 5, 2018, from https://newyorkhistoryblog.org/2015/08/early-years-of-steamboating-on-the-hudson/
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