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Unleash Prosperity Hotline
Issue #1345
9/9/2025
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1) Minimum Wage Means Maximum Teen Unemployment
Many blue states now have minimum wage laws of as high as $15 an hour. We've long argued that states should establish a TEENAGE minimum wage that is closer to about $5 or $6 an hour. These are starter jobs that teach kids at an early age how to work and earn a paycheck.
About half of OECD countries have a lower starter wage for teens, and a few years ago a comprehensive study found ([link removed]) "both the relative employment and labor force participation rates of individuals below the age of 25 are about 10 and 12 percentage points higher, respectively, in countries with youth minimum wages, as compared to countries with uniform minimum wages."
Unfortunately, few of the high minimum wage states allow a lower rate for teens. This means many states require businesses to pay $15 an hour or more to teens, effectively pricing them out of the workforce:
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California is $20 an hour for fast food restaurants.
Here is the latest 2025 data on state minimum wages and teen unemployment.
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This handy chart from Fox Business shows the abnormally high teen joblessness in the high minimum wage states:
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2) Climate Change Industrial Complex Now "In Shambles"
Hand it to Trump: in just over six months he has flattened the left's multi-hundred-billion-dollar climate change colossus.
You don't have to take our word for it. The New York Times this weekend admitted the movement is in shambles:
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The article admits this is "a uniquely bleak time" for climate activists and "the movement's future is cloudier than ever."
One longtime activist complained: "everything that I've worked on in my entire professional life has gone down the toilet in the last six months."
Marc Morano of Climate Depot puts it well: "It's official. The Trump administration is presiding over the unprecedented collapse of the entire global climate change effort."
The story points out that under Trump 2.0 the U.S. is repealing the wrongful CO2 Endangerment Finding, has withdrawn from the UN climate treaty process, and defunded much of the Green New Deal.
There's not much left.
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3) Minneapolis Star-Tribune Will Now Be Printed in Low-Tax, Right-To-Work Iowa
James Lavish is the latest expert in economics and finance to correctly identify the monthly jobs data from the Bureau of Labor Statistics as something from a random number generator.
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4) Uh Oh - Javier Milei's Freedom Party Loses Local Elections in Argentina
Milei, the free market shock therapist, is the great shining hope for economically-depressed South America. He's slashed tax rates, regulations, bureaucracies, welfare benefits, and bloated government pensions.
But his party took only 34% of the vote in Buenos Aires provincial elections, losing to a slate of Peronista candidates.
The Argentine stock markets immediately fell by 10% overnight, and bonds and the peso suffered major sell offs.
Milei has successfully slashed the crippling triple-digit inflation and massive budget deficits he inherited from the Peronistas since he was elected in 2023. But now the empire is striking back. For the future of Argentina, may the force be with Milei.
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5) France Veers Back to the Left
Prime Minister Francois Bayrou was forced from office on Monday when the French Parliament voted 364-194 against him. He was brought down by an unholy alliance of left-wing socialists and right-wing populists who united to reject his budget reforms, which included eliminating two of the country's many public holidays.
Bayrou didn't go quietly. In a 40-minute speech he warned France was in a "life-threatening condition" that risked "enslaving our youth" to growing public debt. "You can get rid of the government, but you can't get rid of reality," he told deputies. Indeed, the reality is that an eye-popping 57% of France's GDP is channeled into its welfare state, including the most generous pensions in the world.
He also warned of soak the rich tax schemes:
"Our British neighbors decided to tax foreigners who were exempt from taxation. Those foreigners moved away, and the immediate consequence was an explosion in property prices in Milan." He noted property prices in Milan have soared 49% since Italy introduced a flat-tax system for investments in 2017.
Unfortunately, the French seem to be addicted to socialism.
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6) But It's to Level the Playing Field
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