Department of "Huh?!": Tim Geithner Edition
Expansionary Government Spending to Boost the Economy Was Not Tried--Except, of Course, in China

Department of "Huh?": Do They Understand What's in the Health Care Bill? Edition

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I don't know what the hell these people think that they are saying. There is no way that you can argue that, because of the health-care reform bill, workers who want minimum wage jobs will be unable to find them.

John Goodman:

The $6-an-Hour Health Minimum Wage | John Goodman's Health Policy Blog: Most people intuitively know that the worst thing government can do in the middle of the deepest recession in 70 years is enact policies that increase the expected cost of labor. Yet that is exactly what happened last spring, with the passage of the Affordable Care Act (ACA). How bad is it? Right now we’re estimating the cost of the minimum benefit package that everyone will be required to have at $4,750 for individuals and $12,250 for families.... In four years’ time, the minimum cost of labor will be a $7.25 cash minimum wage and a $5.89 health minimum wage (family), for a total of $13.14 an hour...

Arnold Kling:

Health Care Costs and Wages: John Goodman writes,

In four years' time, the minimum cost of labor will be a $7.25 cash minimum wage and a $5.89 health minimum wage (family), for a total of $13.14 an hour or about $27,331 a year. (I think you can see already that no one is going to want to hire low-wage workers with families.)

Read the whole thing. As you know, I have been making similar points, but I don't blame the new health care law so much. This is already an issue before the new law takes effect...

Tyler Cowen:

Marginal Revolution: Sentences to ponder:

In four years' time, the minimum cost of labor will be a $7.25 cash minimum wage and a $5.89 health minimum wage (family), for a total of $13.14 an hour or about $27,331 a year.

That's John Goodman, via Arnold Kling.

Repeat after me:

There is no employer mandate in the bill. Employers will still be able to offer workers $7.25/hour to work.

There is no employer mandate in the bill. Employers will still be able to offer workers $7.25/hour to work.

There is no employer mandate in the bill. Employers will still be able to offer workers $7.25/hour to work.

There is no employer mandate in the bill. Employers will still be able to offer workers $7.25/hour to work.

There is no employer mandate in the bill. Employers will still be able to offer workers $7.25/hour to work.

There is no employer mandate in the bill. Employers will still be able to offer workers $7.25/hour to work.

There is no employer mandate in the bill. Employers will still be able to offer workers $7.25/hour to work.

There is no employer mandate in the bill. Employers will still be able to offer workers $7.25/hour to work.

There is no employer mandate in the bill. Employers will still be able to offer workers $7.25/hour to work.

There is no employer mandate in the bill. Employers will still be able to offer workers $7.25/hour to work.

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