[MeanGreen2008]

Temporarily, it could work. There’s no doubt that the working class wage buys less today than it did 40 years ago.

The problem you would create is a driving up of inflation. Eventually the increase in minimum wage will be wiped out.

But there’s a benefit to that as well - wages will catch up and suddenly your fixed rate mortgage is taking less of your income.

The good news is that the market will correct itself over time anyways, so why not do it?

[LiveFree99]

A higher minimum wage would simply empower the illegals and encourage more employers to hire them to keep their costs lower. Bad idea.

If I recall correctly, President Reagan never raised the federal minimum wage in his entire eight years.

[1010RD]

There’s no doubt that the working class wage buys less today than it did 40 years ago.

I'd rather be working class in 2014, than 1974. We're way better off.