You may have noticed that Stossel is out hawking a book called "Myths, Lies, and Downright Stupidity" purporting to debunk those things. Instead, what we see is that Stossel is spewing them - and using his media platform as a megaphone of dishonesty. Stossel, in many ways, is exactly why I wrote my new book Hostile Takeover - to strip bare the opportunists, shills and half-wits who dominate our political debate and show them for what they really are: pathological liars.
Here's what I mean. According to the right-wing, Scaife-owned Pittsburgh Tribune-Review, Stossel appeared on ABC's "The View" to talk about his book's assertion that the minimum wage supposedly hurts low-income workers. The host was surprised that someone could make such a ludicrous claim. "Why does raising the minimum wage -- this one I don't get -- actually hurt poor people?," she asked Stossel. "I don't understand that one at all."
Stossel replied with a straight face: "The truth is that people on the margins lose jobs when minimum wages go up. We used to have people washing windshields at gas stations. We don't anymore because of the minimum wage. There's no opportunity for kids, for entry-level workers."
This is simply looney tunes, as anybody who searches through this blog can verify.There simply is no evidence that minimum wage laws hurt workers; in fact, the evidence is that it helps the economy, because these workers have the lowest marginal propensity to squirrel away money. They spend it, and stimulate the economy.