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places like clovis and in the southeastern area done even need a min.wage increase, its so cheap to live there already,my parents paid 350 a month for a mortgage payment and you can still get a descent 3 bedroom house for 65,000, I wish that was available here in Albuquerque, I just got me a 1,000 a month mortgae payment,plus the prices are going up everywhere, such as Wal-Mart, so now I wont shop at Wal-Mart anymore.
When minimum wages are increased, the value of money will necessarily go down to reflect its greater abundance, so prices will go up. That hurts people on fixed incomes. If one looks back into history, he can see how money has lost its value as wages have risen. I'm sure this is an oversimplification, but it's true.
Its really too bad that we cant globalize (which politely means slashing down to nothing) the wages for the excecs, ceo s, and those who benefited from NAFTA and the slave wages exploited, and the basic gutting of American Labor.
The "beauty" of this isn't just corporate execs, it's politicians too who don't want to feel left out of the pay raise cycle.
Recent examples, the legislature just gave themselves a $17,500 retirement raise (and guess who is going to pay for it - hint: not them!!!).
The Guv has hiked his salary $60,000 the last 4 years and Lt. Guv $40,000 plus a great increase in their expense accounts. (plus the $5.5 million dollar jet and $4 million dollar helicopter).
So please, don't begrudge the poor their small raise, even if your milk or bread goes up a bit. It's corporate execs and politicians you really should be complaining about - never in history have so many been paid so much for doing so little!!!
Im not begrudging anyone a pay rise. Their milk and bread will go up More than what theyr pay rise went up, thats the point i am trying to make! To make a small town like Clayton comparable to Albuquerque with the same min wage is a joke.
When minimum wages are increased, the value of money will necessarily go down to reflect its greater abundance, so prices will go up. That hurts people on fixed incomes. If one looks back into history, he can see how money has lost its value as wages have risen. I'm sure this is an oversimplification, but it's true.
catman:
Excellent points. That is one of the best and simplest explanation of the danger of raising the minimum wage that I have ever seen.
I believe in letting the market decide what wages should be, not the government. Like Brian says, the wage a person needs to make in ABQ might (and is) completely different than one required in Clayton.
For the sake of discussion take a peak at this link, it refers to taxes paid by the wealthy of 21o/o compared to the 1950's it was around 51percent- the middle class and lower need the same tax breaks now- or smell another Boston Tea party comin on.
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Really Too Bad
