Monday, January 08, 2007

This is why I have little confidence in the new Democratic House Majority. The WSJ opined last Thursday an editorial titled "The 100 Hours Rush" detailing the Democrats rush to get certain legislation passed before they got bogged down in committee hearings and such. A few interesting points:

First, they want to increase minimum wage from $5.15 to $7.25 in the next two years. Great, you say, but the WSJ notes, "No serious economist disputes that a higher wage floor will reduce employment. The debate it only over how many people will lose jobs." So if I am a clerk at the local grocer, making $6 an hour, married with a husband who makes a decent wage, kids are in school, working maybe twenty hours a week to get out of the house, maybe save up for a vacation or pay off some other bills, etc. Sure, I would like to make that extra $1.25 an hour, but chances are instead that I will be relieved as my employer will no longer be able to afford me. Or maybe I don't lose my job, but in order to keep me they have to raise prices so I end up losing the money anyhow. I wish everyone could make what the left considers a "living wage" (I've heard $14/hour as rough estimates) but unfortunately it's just not realistic.

Second, on price control of prescription drugs, I have little sympathy in this area with Lisa being a pharmacist and having inside info on how much it costs to develop and get these drugs approved. Let the market determine the costs of drugs! Instead, the WSJ reports that "Democrats want to allow the government to deal directly with drug companies. They argue that this would lead to lower prices for medicines, but the more likely outcome is fewer drug choices and drug controls."

Finally, ethics reform was the buzzword in the last election, so now it seems they want to control the lobbyists instead of the Members of Congress. They write, "Putting restrictions on the right of citizens to peition government is a strange way of handling ethically challenged politicians. If a Member can be bought with a free lunch or skybox ticket from a lobbyist, he shouldn't be in Congree anyway. " AMEN!

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