Prodos Worldwide on SolidVox has a 30 minute interview with Gerard Jackson about how economics and history refutes calls for state intervention in the labor market.
It has some important facts that are relevant to mid-term congressional election issues related to minimum wage increases proposed by Democrats and tax reductions proposed by some Republicans.
Mr. Jackson’s comments on how the depletion of capital leads to lower wages, which caused me to recognize how federal taxes attack capital accumulation. When it comes to Republican efforts to lower these taxes, they would benefit from instruction in valid arguments against these taxes by Mr. Jackson. Perhaps, if they were willing to be objectively correct, these congressman could be so bold as to eliminate the capital gains tax instead to hoping only to limit its damage by lowering that tax rate.