“Republican presidential contender Mitt Romney renewed…” Now, listen to me, folks. Mitt Romney “renewed his support yesterday for automatic increases in the federal minimum wage to keep pace with inflation, a position sharply at odds with traditional Republican business allies, conservatives, and party senior lawmakers.” By the way, folks, have you seen the teenage unemployment rate in this country? Well, can you say “25%”? It’s 16%, 18%. It’s way, way up there. The teenage unemployment rate, it’s at record highs.

Whatever it is, it is at a record high, and why do you think that is? In part, it’s the minimum wage. Businesses are having enough trouble as it is in this economy, and then to be told to go out and hire a bunch of people who have no experience and pay them an arbitrary amount of money that has no relationship to the business’s operation or cost structure, is literally absurd. And so the only option the small businessman has is not hiring anybody. You can price it… It’s sort of like raising tax rates and these dummkopfs in Washington think, “Well, you raise the tax rate and these taxpayers just sit out there like a bunch of idiots and they’ll pay it.” And every time tax rates are increased, guess what? Revenue goes down. If you want more of an activity, you cut taxes on it. If you want less of an activity, you raise taxes.

If you want more homes sold, then you allow the interest on a mortgage to be deducted. If you don’t want a lot of homes to be sold, take that deduction away. If you want to spur teenage hiring, lower the minimum wage or get rid of it. If you want to retard teenage hiring — if you want to slow it down, if you want to limit the amount of teenagers to get jobs — raise the cost of hiring them. And that’s what an increase in the minimum wage is. The minimum wage, the stock conservative answer to it is get rid of it. It certainly isn’t to raise it. It certainly isn’t to tie it to the cost of living index. But here we have from the AP: “Republican presidential contender Mitt Romney renewed his support Wednesday for automatic increases in the federal minimum wage to keep pace with inflation. “Said the former Massachusetts governor, ‘I haven’t changed my thoughts on that.’ He told reporters this aboard his chartered campaign plane, referring to a stand he’s held for ten years.” Yeah, I want to raise the minimum wage. “He did not say if he would ask Congress to approve it.”

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