Telling lies is essential to it.
[Update a few minutes later]
Here’s an excellent example:
In San Francisco, the people who were bemoaning the impending closure of Borderlands admitted sheepishly that they’d voted for the minimum-wage hike. “It’s not something that I thought would affect certain specific small businesses,” one customer said. “I feel sad.”
Yeah, Adam Smith feels sad, too, you dope.
Thick though they may be, you know what those economically illiterate San Francisco book-lovers aren’t? President of the United States of America. But President Obama does precisely the same thing: With Obamacare, he created powerful economic incentives for companies such as Staples to keep part-timers under 25 hours – and to hire part-timers rather than full-time employees – and now he complains when companies respond to those incentives. Naturally, he cites executive pay: “I haven’t looked at Staples stock lately or what the compensation of the CEO is,” he says, but affirms that he is confident that they can afford to run their business the way he wants them to run it.
Let’s apply some English-major math to that question. Ronald Sargent made just under $11 million a year at last report. Staples has about 83,000 employees. That means that if it cut its CEO’s pay to $0.00/annum, Staples would be able to fund about $2.61/week in additional wages or health-care benefits for each of its employees, or schedule them for an additional 22 minutes of work at the federal minimum wage. Which is to say, CEO pay represents a trivial sum — but the expenses imposed by Obamacare are not trivial.
On this issue, President Obama brings all of the honesty and integrity he applied to the question of gay marriage: He’s lying, and he knows he’s lying, and his apologists in the media know he’s lying, and Democratic time-servers and yes-men across the fruited plains know he’s lying. This isn’t about CEO pay – it’s about the economic incentives created by the health-insurance program that in the vernacular bears the president’s name. The president, with the support of congressional Democrats, effectively put a tax on full-time jobs, and on part-time jobs offering 30 hours per week or more. So we’re going to have fewer full-time jobs, and fewer part-time jobs offering 30 hours per week or more. This wasn’t cooked up in the boardroom at Staples – it was cooked up on Capitol Hill, with the eager blessing of Barack Obama. It’s not like they don’t know that there are economic tradeoffs necessitated by Obamacare — they know it, and they also know that, politically speaking, their supporters are cheap dates. Obama ran to the right of Dick Cheney on gay marriage, and it didn’t hurt him with gay voters, who were happy to be reduced to mere instruments of his ambition. The Democrats are betting that part-time workers are similarly easy – or that they’re too dumb to understand the economics at work here, and that they’ll be hypnotized by ritual chants about CEO pay.
I’m hoping that this time, they lose their vile bet.
[Update a few minutes later]
Second link was missing, but fixed.