Observations on the world today.

Sunday, May 18, 2008

Minimum Wage - Scapegoating 

I'm going to go out on a limb here and make a prediction. Sometime in the future, when the issue of raising the federal minimum wage is again on the table, someone somewhere - probably on the right side of the fence - is going to show a graph demonstrating how raising the minimum wage is always accompanied by an increase in inflation.That graph will undoubtedly include a notation of last year's increase in the wage and this year's increase in the cost-of-living. There will be no mention on that graph of the spiraling cost of gasoline, or the affect it had on the price of such commodities as wheat, and dairy. No, all we will be told is that the minimum wage went up, and grocery stores were forced to raise the price of a loaf of bread.

Maybe I should have written this post in the form of a quatrain.

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