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National Inflation Day |
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Gregory Morris, 7/24/07 9:05:42 am |
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Being celebrated for the next few years on July 24.
Of course, the minimum wage increase is going to hurt business in poor states the most, since more well-to-do states like FL, CA, NY, etc. already have higher minimum wages. But over the next few years, we'll all be along for the same ride. All the minimum wage workers who are thankful for the $0.10 more they are making now will start bitching again when the price of a box of granola bars goes up. If you can't see that it is a never-ending cycle, then you either need glasses, or a lesson in economics. What gets me is, this will only serve to push more business out of the US, particularly in manufacturing, which in the end will, and this is not hyperbole, utterly wreck our economy.
The problem with minimum wage laws is that few politicians have the balls to say no to them, and no politicians have the balls to repeal them. Everyone else is just happy to see "something being done" about some problem or other. Thing is, there is no problem (other than bitching, crying liberals), and even if there were this won't fix it long-term. All this will do is prolong a cycle that will damn the dollar. Give this cycle a few more go-rounds, and we'll be using pesos, because they'll be worth more.
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