HomeBernie Sanders9/8 News Roundup – Sanders’ Chats With Colbert & Chris Hayes, Thomas Frank Responds To Clintons Book & More
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Paul Ryan Doesn’t Know How Much (WI) Minimum Wage Is, Then Lies Through Teeth About It

But it’s the rest of his phony-baloney statement that really grates:

Q: The minimum wage in other parts of the country is fourteen, fifteen dollars. I don’t see huge differential in employment in places that have raised their minimum wage to places that haven’t.

RYAN: Our poverty rates are among the lowest in the country.

Sure, if by lowest you mean “tied for 18th with Washington state by percentage of population as of 2014.” And one study at the University of Wisconsin last year found that the state’s poverty rate grew by 20 percent between 2010 and 2014, to its highest level in 30 years. Also, the gap in poverty rates between whites and blacks is 49th worst in the nation. So clearly Ryan is either not paying attention or lying through his teeth.

I’ll go with “lying through his teeth”.

“For every wage you raise, you end up losing jobs. Not every single one, but you actually end up destroying jobs.”

Spoiler alert: This is an oft-cited reason for which the evidence is far, far from conclusive, no matter what the American Enterprise Institute or Forbes tries to tell you.

Again, I’ll just go with lying about it.

Q: If you have a 3.7 percent unemployment rate [in Wisconsin], you have companies sitting on hordes of cash. What guarantees any of it filters down to the economy?

RYAN: When CEOs who want to build factories in America say “It just doesn’t pay to build factories in America, I’m building ’em overseas because of the tax code,” I think that identifies a solution: fix the tax code.

Corporate profits are high and companies are already “sitting on hordes of cash,” so why would lower tax rates incentivize them to put those savings back into the country, instead of just adding the money to their already-existing piles and paying it out in stock dividends and executive bonuses?

Thank you Gary Legum!

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