U.S. Rep. Ron Paul | Bruce Bartlett |
Bruce Bartlett
Increasing The Minimum Wage Decreases Opportunities For Our Nation’s Youth
10 June 1999 1999 Ron Paul 57:1
Mr. PAUL. Mr. Speaker, I highly recommend Bruce Bartlett’s “Minimum Wage Hikes Help Politicians, Not the Poor”, which recently appeared in The Wall Street Journal, to all of my colleagues. Mr. Bartlett’s article provides an excellent overview of the evidence that an increase in the federally-mandated minimum wage reduces teenage employment. Since those shut out of entry-level work are unlikely to obtain higher-paying jobs in the future, an increase in the minimum wage reduces employment opportunities for millions of Americans. This point was also highlighted by Federal Reserve Chairman Alan Greenspan in testimony before the Senate in January when he pointed out that “All the evidence that I’ve seen suggests that the people who are the most needy of getting on the lower rungs of the ladder of our income scales, develop skills, getting the training, are unable to earn the minimum wage. As a consequence, they cannot get started. And I think we have to be very careful about thinking that we can somehow raise standards of living by mandating an increase in the minimum wage rate.” I hope all of my colleagues will carefully consider how increasing the minimum wage decreases opportunities for our nation’s youth and refrain from reducing economic opportunity for those at the bottom of the economic ladder by raising the minimum wage.
Bruce Bartlett
Increasing The Minimum Wage Decreases Opportunities For Our Nation’s Youth
10 June 1999 1999 Ron Paul 57:2
Bruce Bartlett is senior fellow at the NCPA. He was Deputy Assistant Secretary for Economic Policy in the Treasury Department from 1988 to 1993, and Senior Policy Analyst at the White House from 1987 to 1988. He is an expert commentator on taxes and economic policy, the author of two books and, a syndicated columnist. His articles have appeared in many papers including The Wall Street Journal and The New York Times. He regularly appears on national television and radio programs.
Bruce Bartlett
Increasing The Minimum Wage Decreases Opportunities For Our Nation’s Youth
10 June 1999 1999 Ron Paul 57:3
MINIMUM WAGE HIKES HELP POLITICIANS, NOT THE POOR (By Bruce Bartlett) It now appears likely that the Republican Congress will soon raise the minimum wage for the second time in three years. In 1996 the minimum increased to the present $5.15 an hour from $4.25; the increase now being considered would bring the figure up to $6.15 by 2002. This is bad news, for as many as 436,000 jobs may disappear as a result of the increase.
Bruce Bartlett
Corporate and Auditing Accountability, Responsibility, And Transparency Act of 2002 (CARTA)
24 April 2002 2002 Ron Paul 24:9
Unfortunately, the Federal Government has a history of crippling market mechanisms to protect shareholders. As former Treasury official Bruce Bartlett pointed out in a recent Washington Times column, during the 1980s, so-called corporate raiders helped keep corporate management accountable to shareholders through devices such as the “junk” bond, which made corporate takeovers easier. Thanks to the corporate raiders, managers knew they had to be responsive to shareholders needs or they would become a potential target for a takeover.
Bruce Bartlett
Corporate and Auditing Accountability, Responsibility, And Transparency Act of 2002 (CARTA)
24 April 2002 2002 Ron Paul 24:10
Unfortunately, the backlash against corporate raiders, led by demographic politicians and power-hungry bureaucrats eager to expand the financial police state, put an end to hostile takeovers. Bruce Bartlett, in the Washington Times column sited above, described the effects of this action on shareholders, “Without the threat of a takeover, manaagers have been able to go back to ignoring shareholders, treating them like a nuisance, and giving themselves bloated salaries and perks, with little oversight from corporate boards. Now insulated from shareholders once again, managers could engage in unsound practices with little fear of punishment for failure.” Ironically, the Federal power grab which killed the corporate raider may have set the stage for the Enron debacle, which is now being used as an excuse for yet another Federal power grab!
Bruce Bartlett
Shareholder Vote On Executive Compensation Act
18 April 2007 2007 Ron Paul 43:11
The backlash against corporate raiders included the enactment of laws that made it more difficult to launch hostile takeovers. Bruce Bartlett, writing in the Washington Times in 2001, commented on the effects of these laws, “Without the threat of a takeover, managers have been able to go back to ignoring shareholders, treating them like a nuisance, and giving themselves bloated salaries and perks, with little oversight from corporate boards. Now insulated from shareholders once again, managers could engage in unsound practices with little fear of punishment for failure.” The Federal “crackdown” on corporate raiders, combined with provisions in Sarbanes- Oxley disqualifying the people who are the most capable of serving as shareholder watchdogs from serving on corporate boards, contributed to the disconnect between CEO salaries and creation of shareholder value that is being used to justify another expansion of the regulatory state.
Texas Straight Talk from 20 December 1996 to 23 June 2008 (573 editions) are included in this Concordance. Texas Straight Talk after 23 June 2008 is in blog form on Rep. Paul’s Congressional website and is not included in this Concordance.
Remember, not everything in the concordance is Ron Paul’s words. Some things he quoted, and he added some newspaper and magazine articles to the Congressional Record. Check the original speech to see.