Tech billionaire Bill Gates expressed doubts about the impact of an increase in the minimum wage, despite his long-time support for President Barack Obama, who publicly endorses the policy idea.
"When people say we should raise the minimum wage, I worry about what that does to job creation," Gates, Microsoft founder and cofounder of the Bill and Melinda Gates Foundation, declared at a Washington, D.C. event at the American Enterprise Institute on Thursday. The business giant argued that a minimum wage increase would "dampen the demand for labor."
Gates paraphrased Robert Dohrer, chair of the Forum of Firms at the International Federation of Accountants, who noted that "poverty in the United States is often related to employment and economic growth." The Microsoft founder warned that "capitalism over time will create more inequality and technology over time will adjust labor demand," meaning that the rich will become richer and the poor will lose their jobs and be replaced by machines. more >>
At the end of the classic film, "The Bridge Over the River Kwai," the prison camp's doctor surveys the scenes of death and destruction surrounding him. He sums up the imponderable moral irony of the British helping the Japanese build a bridge only to blow it up as a military necessity, and exclaims, "Madness! Madness!"
Reading Nobel Laureate Paul Krugman's piece in yesterday's New York Times on the benefits of coercive charity and legalized theft, AKA income redistribution, I think I now know about how "Kwai's" doctor felt.
The very notion of redistribution implies stasis: That the economic pie is only so large and thus must be re-divided, comprehensively and repetitively, and that the central planners and revenue collectors of the central government are the wisest among us to do so. more >>
NATIONAL HARBOR, Md. – A moral and religious population is necessary for free markets and democratic institutions to work well, best-selling author Eric Metaxas told The Christian Post after speaking at The Conservative Political Action Conference.
"The free market and democracy by themselves, unmoored by a religious population or a moral population, are nothing," Metaxas said Friday. "The free hand of the market will provide cheaper, better pornography and drugs, if that's what the population wants."
"To have a robust free market is compromised if we are mired in debt, and to have a robust free market of ideas is compromised if religious freedom is threatened – they're really both sides of the same thing, different kinds of liberty that are inextricably intertwined," he added. more >>
NATIONAL HARBOR, Md. – A panel on marijuana legalization led to a spirited debate on the social costs of drug use and the drug war at the Conservative Political Action Conference on Thursday.
"Marijuana makes people dumber, do we really need more dumb people right now?" asked Chris Beach, executive producer of Bill Bennett's show "Morning in America." Beach passionately argued that the effort to crack down on marijuana and other drugs is worth the cost to taxpayers. He insisted that America is falling behind in terms of education and "I don't think it's going to help us catch up to legalize marijuana."
Mary Katharine Ham, editor-at-large of HotAir.com and winner of CPAC's "Blogger of the Year" award, vehemently declared that the drug war is not worth the social and economic costs, especially to minority youth. "The weed itself is less damaging than the criminal justice system can be to a young person, certainly of low economic status," Ham told CP in an interview following the panel. more >>
NATIONAL HARBOR, Md. — Republicans should learn from Pope Francis how to better communicate their message, Rick Santorum, former Pennsylvania senator and 2012 Republican presidential candidate, argued Friday at the Conservative Political Action Conference.
Republicans focus too much of their message on attracting business owners rather than workers, attacking President Barack Obama and explaining what they are against rather than what they are for, Santorum claimed. Instead, Santorum urged Republicans to reach out to those who are hurting and to talk about how their policies will help them. And to do that, learn from Pope Francis.
"I think we need to take a lesson from someone who is maybe the most popular person in the world right now — Pope Francis," he said. more >>
NATIONAL HARBOR, Md. — Congressman Paul Ryan (R-Wisc.) declared that the Republican Party is fundamentally united and the apparent chasms are actually only slight disagreements about tactics. He and two conservative Senators hailed the new ideas in the GOP as a positive platform for the future.
"I don't see this great divide in our party, what I see is a vibrant debate," Ryan declared at the Conservative Political Action Conference (CPAC) on Thursday. He argued that the disagreements between Tea Party supporters, "the establishment," libertarians, and social conservatives, are "disagreements not over policies or principles, but over tactics."
"I'm Irish, that's my idea of a family reunion!" the Congressman quipped. Ryan discussed these internal struggles as creative tension, strengthening the conservative movement. more >>