[mnehring]

arrruuuggghhh.....
The ignorance of basic economics out there just makes me scream..
If you raise the minimum wage to 10.00 per hour, that is still minimum; prices and wages will be base-lined against that. (ie, after the initial short term impact, there will be a net ZERO gain in spending power..)

[Kidan]

arrruuuggghhh..... The ignorance of basic economics out there just makes me scream.. If you raise the minimum wage to 10.00 per hour, that is still minimum; prices and wages will be base-lined against that. (ie, after the initial short term impact, there will be a net ZERO gain in spending power..)

Actually there would be a negative impact on spending power. Consider, a person currently makes three times the minimum wage of 5.15. If we raised that to 10, that same employee now makes less than .5 times the minimum wage. That is a huge blow to those who have spent the time and energy to better themselves.

[jb6]

If you raise the minimum wage to 10.00 per hour, that is still minimum; prices and wages will be base-lined against that. (ie, after the initial short term impact, there will be a net ZERO gain in spending power..)

Long enough for the average corporate planning session. Remember, our genius CEOs usually only plan out a little past their noses, two or three quarters, rarely a year at best.