It's often assumed that people are paid what they're worth. According to this logic, minimum wage workers aren't worth more than the $7.25 an hour they now receive. If they were worth more, they'd earn more. Any attempt to force employers to pay them more will only kill jobs.
According to this same logic, CEOs of big companies are worth their giant compensation packages, now averaging 300 times pay of the typical American worker. They must be worth it or they wouldn't be paid this much. Any attempt to limit their pay is fruitless because their pay will only take some other form.
"Paid-what-you're-worth" is a dangerous myth. read more
Diane Ravitch: Perhaps you have seen the headlines and the television interviews about how New York City's new mayor, Bill de Blasio, is closing charter schools, evicting poor minority children, destroying their dreams for the future and their chance to escape failing public schools. Almost all the complaints come from Eva Moskowitz, who runs New York City's largest charter chain. Her grievances have been amply vented on Fox News, MSNBC's Morning Joe and Chris Mathews, in the Wall Street Journal and the New York Post. Time for a fact check. read more
Libertarians love Bitcoin.
About 44% of the online crypto-currency's users self-identify as Libertarians.
They love the fact that it's not controlled by a government or central bank -- so no online Fed can "print" more of it and inflate our way out of trouble. They love that it's decentralized; it's the currency of The People, not The Man. They love that it's "mined," a bit like gold, because that makes it a bit like the gold standard, which libertarians think real currencies ought to be tied to. They love that Bitcoin isn't taxed, so you can hide your income from the government if you want to. They love the way its value reflects pure supply and demand, and not a value forced into the system by regulation or monopoly. And they love that it's fairly lawless -- it's difficult to enforce rules (other than the rules of the market) when everyone in the market is anonymous. read more
After the Cold War, American conservatives frequently used Russia as an example of failed liberal policies. "Go back to Russia, comrade!" was a common refrain. But as Jason Jones of The Daily Show found out when he visited recently, modern-day Russia is now a Republican's dream. "Now it seems the red scare has become the ultimate red state," Jones said. Indeed, he spoke to several Russian officials on the subjects of the economy (13% flat tax with no budget deficit), immigration (cheap labor, but at a cost to national identity), feminism (both men and women are tired of it), gun control (even liberals are opposed), sexual freedom (homosexuality is outlawed) and religion (abortion and premarital sex are effectively against the law in the name of the free market). read more
A retired Army general and Fox News analyst told a Tea Party group that he would lead a military coup against the U.S. government, if only reluctantly. Paul Vallely, a retired major general and senior military analyst for the conservative news channel, told the Surprise, Arizona, Tea Party Patriots during a Dec. 3 speech that other retired military personnel and veterans groups had contacted him about the possibility. "I had a call this afternoon from Idaho, the gentleman said, 'If I give you 250,000 Marines to go to Washington, will you lead them?'" Vallely said as the group laughed and gasped. "I said, 'Yes, I will, I'll surround the White House and I'll surround the Capitol building, but it's going to take physical presence to do things.'" read more