To: beyond the sea
How? A yearly cost of living increase equal to teh percentage of inflation.
43 posted on
07/28/2006 9:04:40 AM PDT by
Hydroshock
( (Proverbs 22:7). The rich ruleth over the poor, and the borrower is servant to the lender.)
To: Hydroshock
minimum wage increase = increased costs of labor = higher product cost.
results Higher product cost = spending the magical wage increase on more expensive product = 0 gain
Higher products cost = more room for foreign products to take market share = massive US job loss.
Higher labors costs = dropping the lower echelon of employees and replacing with outsourcing/mechanizing/computerizing = no job = welfare
There is nothing to be gained, only lost
Economic newtons third law.
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