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Originally Posted by jasperg35
obama wants to raise minimum wage to 9.50
hows that for inflation and an economic blunder?
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No. The push to raise the minimum wage is to catch up for years of neglect by our politicians. The minimum wage is statically set so it never went up as the years went by. If the wage was pegged to track an inflationary index or a consumer price index for example, we would not be having this debate right now. As living costs rise, it would only make sense to increase the minimum wage to keep the purchasing power intact. Unfortunately, even this won't solve the problems as living costs vary wildly from place to place. Wichita, KS versus New York, NY for example. For $9.50 you can get one pack of cigarettes in Manhattan. In Wichita, perhaps two.