Free Republic
Browse · Search
News/Activism
Topics · Post Article

To: TheLion

Look up what? Inflation is an increase in money supply relative to goods and services for sale, higher prices are the symptom of inflation. The current minimum wage is lower in real terms than it has been for a long time. In 1963 one hour at minimum wage would gross enough to buy lunch for three, today it will hardly buy lunch for one. It is absurd to say that the minimum wage is a cause of inflation now. Saying that an increase in the price of anything is a cause of inflation is akin to saying that the rapidly rising river is a cause of rain.


119 posted on 01/15/2007 5:07:44 AM PST by RipSawyer (Does anybody still believe this is a free country?)
[ Post Reply | Private Reply | To 112 | View Replies ]


To: RipSawyer
In 1963 one hour at minimum wage would gross enough to buy lunch for three,
I don't know about that but I do know it would have been enough for about 5 gallons of gas at a full serve "service station" where the "service station attendants" were likey paid minimum wage.

As if all price increases are the result of the minimum wage.

It's more than pathetic to read about Wall Street divying up BILLION$ amongst themselves as if they actually earned it and investors patting themselves on the back for record high stock market earnings while crying about how the lowly minimum wage worker is going to ruin their lives...

124 posted on 01/15/2007 8:52:03 AM PST by lewislynn (!)
[ Post Reply | Private Reply | To 119 | View Replies ]

To: RipSawyer

Since you seem to be ignorant of the minimum wage, I will attempt to bring you up to speed. It was you who said I was "absurd"....remember.

Union jobs are tied to the minimum wage. They are in multiples. A dollar increase in the minimum wage will end up being 3 to 5 dollars in union wages. Who will end up paying for these increases. It is geometric, in relation to simply increasing the minimum wage. Remember that only 2.5 percent of the work force even work for a minimum wage.


127 posted on 01/15/2007 6:40:08 PM PST by TheLion (How about "Comprehensive Immigration Enforcement," for a change)
[ Post Reply | Private Reply | To 119 | View Replies ]

Free Republic
Browse · Search
News/Activism
Topics · Post Article


FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson