Tag: economics

A Minimum Wage Increase Is a Pay Cut for Millions

Ryan Lau | @RyanLau71R

In the past couple of years, a number of politicians have pushed hard for a minimum wage increase. Notable supporters include Elizabeth Warren and Bernie Sanders. Just this week, Connecticut agreed to incrementally up its minimum to $15 an hour in the next four years. Advocates of the idea claim that it will improve the quality of life for many, especially the working poor. However, they miss the fact (or don’t care) that their plan would functionally cut wages for millions of working-class Americans.

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CVS Aetna Merger Shows AMA Hypocrisy

Warren Albrecht | United States

We frequently hear that the cost of healthcare is increasing. But we rarely hear anyone define why despite the reason being so obvious: government intrusion. Neither Blue Cross Blue Shield, Aetna, Cigna, Humana, Medica, nor Anthem was ever on business programs complaining of the cost of healthcare. Instead, the mainstream media gave platforms to the representatives of Medicare and Medicaid, debt providers for taxpayers. Meanwhile, the Obama administration stopped the mergers of health insurance companies.

Attorney General Loretta Lynch said the deals “would leave much of the multi-trillion dollar health insurance industry in the hands of three mammoth insurance companies, drastically constricting competition in a number of key markets that tens of millions of Americans rely on to receive health care”.

So one has to ask anyone supporting single-payer health care: why would government control (socialized medicine) be work without any competition? In short, it wouldn’t.

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“Everything the Government Does is Socialism”: A Child’s Guide to Libertarianism

Jack Parkos | @laissez_faire76

Libertarians promote free-market capitalism and little to no government interference in the economy. We oppose government control over the economy. Further, we oppose Marxist ideologies like communism and socialism. One problem with libertarians, however, is their false usage of the term “socialism“. Libertarians label things as “socialist” regardless of whether they are inherently socialist. This characterization hurts the movement.

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Tax Deductions Are Not Subsidies, It’s Your Money

TJ Roberts | United States

It is a popular lie that tax deductions are nothing more than subsidies. Advocates of this idea claim that the state funds certain behaviors by eliminating taxes on such actions. The problem, however, becomes apparent when one asks whose money is on the line. It should be abundantly clear that they are not subsidies because tax dollars do not belong to the government. Rather, they belong to the people the state forced to pay.

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Privatize Social Security

Garrett Summers | United States

The Federal government’s spending is out of control. The current US debt is $22 trillion and every year we add about another $1 trillion. Shrinking the size of the federal government means shrinking its power. Money is power, so decreasing the amount of money and economy the government controls should be the first place to start. Social Security is the number one expenditure of the federal government. Every year, about $1 trillion dollars of the budget goes towards Social Security. Privatizing Social Security would nearly remove the annual deficit. It would also return the power and responsibility of the individual to manage their own retirement.

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