The House voted to raise the minimum wage to $7.25 per hour in the next 3 years but the Senate rejected it. We can all breathe a sigh of relief.
Before you get upset let me explain it this way.... What are You willing to pay for a burger at your favorite fast food establishment? $3, $4, $5, $6 or more? IF the minimum wage gets raised so will EVERYTHING else!!
Its dumb for me to even have to explain this but minimum wage will never over take the higher paying jobs!
Minimum wage will never be enough to raise a family on which was one of the arguments used to raise it.
Should someone in high school or anyone else for that matter make that much working at an entry level position? Of course not.
The only winner here is the government, higher prices more tax revenue.
If you really want this economy to take off and control inflation lower the wage or keep it as is and let the market dictate whats paid.
By raising the minimum wage all it does is decrease the value of the dollar even more.
As much as I didn't want the minimum wage raised there was other issues attached that also didn't pass which is unfortunate. The others were, a permanent cut in the estate tax and extend tax breaks for business research, college tuition and state sales tax.
The Democrats complained that the Republicans played politics by attaching other bills to the minimum wage raise and should of had a straight up and down vote instead. Though that may be true, the Republicans were still willing to compromise but the Democrats not willing to allow tax breaks defeated the wage hike.
Just remember this when you go to the polls in November.
Carey K. Masci
note: minimum wage was raised in 2007