How long has it been since you’ve had a twenty four percent pay raise? I think my memory is correct and my answer is NEVER. And, I had some pretty good salary reviews. Well, that’s what the Prez wants for minimum wage workers. Since those that make minimum wage, $7.25, are usually those that are less skilled and experienced, what is the reaction going to be for the workers that actually know what they are doing and contribute more to the organization.
It really doesn’t matter what the minimum wage is. If it’s a hundred dollars per hour, everything else will adjust and then all you’ll have is people pushing around wheelbarrows full of worthless money. But let’s look at what happens with twenty four percent. If two burgers cost ten dollars, the vendor is going to have to raise the price. Of course, the suppliers of the meat, buns, etc are going to raise their prices too. It is not unreasonable to project that the new cost of two burgers will be fifteen dollars. Get out your calculators and find out how much more spending power the recipients of the increase actually got.
Now, look at those poor old folks - like me - that are on fixed income. If Social Security gives a three percent Cost of Living Adjustment, how long will it take before I can buy another burger. Those that are on fixed private retirement payments never get a raise. They will just have to go burgerless.
Will there ever be any intelligent life in Washington?
PMO
©2013
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