Posted on 01/05/2015 6:13:35 PM PST by 2ndDivisionVet
"The work that we do, its modern-day slavery," says one Florida worker who just got a 12-cent raise.
On New Years Day, minimum wage increased in 20 states. More states will bump pay later this year. The first round of hikes will expand paychecks by as much as $1.25 an hour, fattening the wallets of about 3.1 million Americans, according to the Economic Policy Institute. (Peruse Wonkblog or work by our labor reporter Lydia DePillis for more details about how the pay bumps could impact your state.)
Economically, the verdict is mixed on minimum wage: Supporters paint the raises as an economic stimulus, a way to reduce poverty; detractors worry budget-strained employers will be forced to cut jobs. (Read Tina Griego on Santa Fes experience with raising the minimum wage.)
Some workers believe the wage increases will deliver instant, tangible benefits: a bus ride, another sack of groceries. Others wont celebrate a victory they deem more symbolic than helpful. Here are a few stories from workers whove gotten raises....
(Excerpt) Read more at washingtonpost.com ...
Sheeple will never understand that every penny the min wage is raised is a loss of two pennies from their savings, their fixed incomes and the overall value of the dollar. The price of a loaf of bread and everything else they want to buy just went up double their piddly raises.
-——Think thats called inflation——
You have it...... inflation of wages is the purpose for which the gullible and seemingly trivial 3.1 million raise recipients are being used.
We have a national debt of $18 trillion. It is not possible to grow that debt away. The way to pay off the massive and incomprehensible debt is to inflate it away. That is, to devalue the US$ and thus the debt. For that to happen there must be across the board inflation of wages and salaries.
In a period of massive unemployment wage inflation is not possible absent civil unrest. The gullible bottom of the barrel wage earners have been politically induced to cry for an increase in the minimum wage. That increase is hoped to kick off a general wage inflation required to induce general price increases that devalue the US$ and inflate away the debt
The gambit is a political Hail Mary that will fail
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