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The Water Cooler
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Minimum Wage - the fallout!
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<blockquote data-quote="ronny" data-source="post: 2844474" data-attributes="member: 8853"><p>Well, I'm not an economist, a left-leaning scholar or anything else but a retiree who can testify ad infinitum on the relative value of money. I retired 17 years ago with a reasonably comfortable little pension and social security. Most of the pension has been wiped out by inflation (anyone who believes gov. and their inflation mumbo-jumbo is a fool), increased medical costs and medical insurance premium increases, homeowners and auto insurance increases, property tax increases, etc.</p><p></p><p>My sympathy for the minimum wage proponents is that they have no clue just how inadequate that salary is. I fear that every one of those folks who gets a minimum wage increase will become more comfortable at that level, perhaps forever postponing the leap they must make to get above the subsistence level in the future. Increased minimum wage is a trap!</p></blockquote><p></p>
[QUOTE="ronny, post: 2844474, member: 8853"] Well, I'm not an economist, a left-leaning scholar or anything else but a retiree who can testify ad infinitum on the relative value of money. I retired 17 years ago with a reasonably comfortable little pension and social security. Most of the pension has been wiped out by inflation (anyone who believes gov. and their inflation mumbo-jumbo is a fool), increased medical costs and medical insurance premium increases, homeowners and auto insurance increases, property tax increases, etc. My sympathy for the minimum wage proponents is that they have no clue just how inadequate that salary is. I fear that every one of those folks who gets a minimum wage increase will become more comfortable at that level, perhaps forever postponing the leap they must make to get above the subsistence level in the future. Increased minimum wage is a trap! [/QUOTE]
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