Fox Panel Bemoans Lack Of Consumer Spending - Ignores Need For Minimum Wage Increase

When they're not busy attacking poor people, or unions, one of the favorite pastimes of these Fox "business block" pundits on Saturdays is to use any excuse they can find to call for lowering taxes on rich people.
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When they're not busy attacking poor people, or unions, one of the favorite pastimes of these Fox "business block" pundits on Saturdays is to use any excuse they can find to call for lowering taxes on rich people.

This week, the excuse was some recent reports that Wal-mart is blaming their lower earnings on, among other things, the recent increase in Social Security taxes since the beginning of the year. After lying and pretending that we've had some sort of massive taxes increases under the Obama administration, even though taxes are at a 30-year low right now, the panel on Fox's Bulls & Bears used the reduced consumer spending as as excuse to say that President Obama needs to lower taxes on everyone to get the economy moving again. Never mind that higher taxes on upper earners doesn't change their spending habits, we need to get those taxes lowered right now.

Only one of the pundits on the show, Steve Murphy, actually mentioned the real problem with the economy dragging along the way it is, and that's the fact that wages are stagnant and haven't increased, with more and more Americans living in poverty. What was missing from the conversation of course was the need for the minimum wage to be increased. Somehow all of these talking heads are completely capable of making the case that a two percent decrease in wages due to payroll taxes going up does damage to the economy, but are completely incapable of acknowledging that the same increase in wages would help the economy.

They'd rather help the world's largest low-wage employer complain about the fact that their employees don't have enough money to shop at their stores.

Of course the very next segment was them trashing labor unions who are going after some of these right-wing Republican governors and complaining that the only entities out there fighting to increase wages are going to destroy the country. John Oliver let these Fox pundits have it earlier this month for their behavior, but they're still just as vitriolic as ever. So far, I've yet to see a single one of them acknowledge the verbal beating he gave them here.

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