News Story of the Day: A new study suggests that California’s latest increase to the minimum wage will cost taxpayers billions of dollars more a year and lead to hundreds of thousands of job loses over the next few years.
According to the Competitive Enterprise Institute (CEI), using data from the state’s legislative analyst, the $15 minimum wage will cost Californians $3.6 billion more per year in government pay alone as the job losses will raise welfare costs. What job losses? Well, it’s estimated that the minimum wage increase will cost the state close to 700,000 jobs. The ones who will see the most negative effects are those in manufacturing and low-wage workers.
This comes as California Governor Jerry Brown recently conceded that the minimum wage doesn’t make economic sense.
Chart of the Day: For years, Japan has been suffering from a senior problem. Today, more than one-quarter (26 percent) of the country’s population is elderly, which is the largest in the world. The Organization for Economic Cooperation and Development (OECD) released a new chart that compares the demographics of the population, and it really showcases an issue that will dominate fiscal policy in many countries in the near future.
Illustration of the Day: Donald Trump certainly isn’t an anti-war candidate, though he should be commended for opposing past wars. For months now, Trump has been accused of being a racist by millennials, Bernie Sanders supporters, Democrats, Black Lives Matter and so on. However, these same people never chastize President Obama for actually bombing Muslim nations and killing countless Muslim men, women and children. This meme sums up a lot of millennials today.
Quote of the Day: It was Thomas Jefferson’s birthday this week. Here is a wise quote from the founding father of the United States:
“I predict future happiness for Americans, if they can prevent the government from wasting the labors of the people under the pretense of taking care of them.”
Oh, what the hell… here’s another one:
“If the American People ever allow the banks to control the issuance of their currency, first by inflation and then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their fathers occupied. The issuing power of money should be taken from the bankers and restored to Congress and the people to whom it belongs. I sincerely believe the banking institutions having the issuing power of money are more dangerous to liberty than standing armies.”
Video of the Day: With Megyn Kelly in the news again for meeting Donald Trump, let’s take a look back to the 2012 presidential campaign when she was educated on the constitution by Ron Paul over the killing of American citizens without any charges.
Leave a Comment