11/08/2014
Do schools still teach the basic concept of supply and demand, in particular that when a labor market is flooded, then wages fall? It often seems not, since news coverage of unemployment almost never mentions the effect of importing millions of foreign workers on wages and job availability.Democrats wail about income inequality and advocate for an increase in the minimum wage while they worsen the problem with their open-borders policies. The Dems say their party supports the working class guy and gal, but their immigration positions are a stab in the back to ordinary people who work for a living. As Senator Jeff Sessions has said, America needs less immigration rather than more, particularly when 20 million Americans are unemployed.
Investor Charles Payne nailed the idea in his usual plain-spoken style on a Saturday Fox business show:
“Think about a president like Obama and his wing of the party if you will that always talks about income inequality and a higher minimum wage, but we’re going to open up the door for people who will work for peanuts. I mean, people who work in this country have no chance. It’s nuts.”
See also Ann Coulter Refresher on Economics 101: Supply and Demand.
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