Well, I guess after a gallon of gas at 4.00 and left with not even enough to buy a pound of sliced ham for the week for lunch, ok maybe you can get the loaf of bread too..but you'll have to settle with no cheese, lettuce or tomatoes or pickles and you'll have to drink water and of coarse its better for you anyway. You're set for the week. Wow! hopefully you can make the gas stretch.

Thisnthat....though I usually agree with you I have to say beginners economics teaches you raising the minimum wage raises the cost of everything & no one wins...not the poor soul who works for minimum wage & also not the people who work for slightly above it. I am not a snob & I don't begrudge anybody anything....BUT......if you wanna earn more you should learn more.

In reality, low and continued low interest rates are fueling the money supply, and contributing to consumer spending, thereby feeding inflation.

The minimum wage has much less to do with inflation than a weakened dollar, due to our governmental spending and debt. Our imported items (ie oil, steel, fresh food stuff) are rising in price in US dollars.

In theory, the minimum wage is a bad economic program. From a social and political view, it was needed decades ago to place a floor on low skill, and entry level employment. It is here, it is probably moral, and it is our reality. And it is just a tiny speck on the radar of our economy.

You all are so funny with your self-righteous super inflated egos. Must be a bunch of John Kerry fan club members here. Remember he has much the same distaste for the yucky low wage earners who suck the economy dry when the government forces the poor employer to raise their wages. I hate to think that employer might have to forego that new gas hogging SUV this year because of that sucking government.Remember John Kerry's outlook on the underclass, "Get a good education, kids, or you'll wind up in Iraq." God forbid the price of a happy meal escalates because the uneducated, low wage riffraff gets a government mandated wage increase.Humanity does not abound on this comment board, but we do find Hippocrates well represented.Comment From: thinksalot "Chris, here's the con side of the argument,..." Blah, blah, blah, blah "That was too complicated, wasn't it (Chris)? Let me try again...Minimum wage increases cause inflation, and ultimately nobody benefits (except maybe the politicians)."Actually, Mr. Cobler sounds quite intelligent and not suffering from a lack of humanity or humility. I can find lots to disagree with Mr. Cobler on; his intelligence does not come into question.But I am certain we are all relieved that inflation is caused by raising the minimum wage for those poor undeserving slimey low wage earners. Big Oil can relax since you of super superiority have vindicated them from any guilt for inflation or recession the US may be experiencing. 

I didn't make myself clear enough, apparently. I'm opposed to the minimum wage, period.

Long economic decline? Compared to other industrialized nations? Perhaps you could make yourself a little clearer.

I think Riverboat misunderstood that Milton Friedman quote. He was against the minimum wage concept altogether, while Riverboat apparently approves of the increase, piddling though it be. In my opinion, Friedman and his Supply Side economics have been the main cause of the long economic decline of the USA (at least compared to other industrialized nations) the past twenty years. To "grow the economy," we need to return to Consumer Side economics.

I'm encouraged by the thought put into this thread from those who had the audacity to question why we need a minimum wage in the first place.

I'm reminded of a quote by the late economist Milton Friedman: “Many well-meaning people favor legal minimum wage rates in the mistaken belief that they help the poor. It has always been a mystery to me why a youngster is better off unemployed at $4.75 an hour than employed at $4.25.”

The quote is from National Review ten years ago. Make some adjustments for inflation.

Ernie - You took the words right out of my mouth! Bravo! Not only does such an increase hurt the country as a whole economically in the long run, it devalues the efforts of professionals who have WORKED their way past minimum wage, yet see NO increases, or very little, over the span of many years in their salaries.
Another problem I have with the increase and the whole mentality surrounding it ("I need the government to take care of me and control corporations, thus effectively negating the ideal of free enterprise in this nation") is that the minimum wage was never meant to be a LIVING wage. It is a good starting point, yes, and I understand why it was set up, but any person who thinks that they can slide by for the rest of their lives making minimum wage has it all wrong. The minimum wage was meant to be a starting wage, to help students and the unemployed obtain honest work. Those workers ideally would go on to bigger and better things over time, through the process of self-motivation and HARD WORK and, perhaps, further education. I realize we do not live in a utopia, and this is far from a perfect world, and many people get stuck in a certain position due to one reason or another, but this should be the exception! I see the minimum wage as a hand up, not a hand out, and people should ideally use that opportunity to advance themselves, not live on minimum wage for the rest of their lives, and expecting raises FROM THE GOVERNMENT instead of from themselves.
Okay, I will get off my soapbox now.

Texas secession '08? Latindaddy, I think I luv you!! (**BLUSHES**) haha! I'm with you!

Latindaddy I have no idea how old you are (I thought for some reason you are young) but you are very wise. I am all for an independent Texas!

Now, I don't want this to become a debate, but cruescobar who exactly would we count on for help?

If we look at the news half the shit on there is what America is doing to HELP others.

As days go by this is just proving the sad fact that we are so inclined to want to help others but when it comes down to it, we fail at keeping ourselves afloat. I have been saying this for ages, why not just mind our own business for a while, you know LAY LOW...so we can fix the problems here in our own damn country before we think about giving to others. Besides, what good are we to others if we have a hard time even providing for ourselves.

I mean what are we gonna do? We sure as hell can't call up America to come help us because we ARE America. Haha, it's actually quite comical if you think about it.

So many problems.

Lord have mercy!

All these people are correct. It's the same crap that they have been telling us, I could in fact work at a starbucks in Austin and makes well above 13 bucks an hour, but the cost of living is far more there than here, and with gas prices skyrocketing who knows what questions the poor will be asking themselves. It used to be "Hmmmm, well kids do we want to pay the electric bill or buy groceries?" pretty soon it's going to be "Hmmmm, well kids do we want to keep the explorer around or do we want to pay the electric bill?"

It just makes me feel like leaving the United States all together with all it's propaganda and bullsh*t.

Anyone else up for Texas Secession '08!?

Yep, you all are right. Now we get to look forward to paying more for our Happy Meal as well!

You can raise minimum wage all you want but the truth is no matter how high minimum wage gets, everything else must go up too. We've already seen how high gas prices are and yet we still need to fill up our tanks, we need to get to work, school, stores etc. Someone needs to step in and help!!

Tough question - but I think Thinksalot has hit the nail on the head.
Without going into a lot of detail, money is only worth what the people who use it *say* it's worth. That "worth" is equated to a certain amount of work, whether it be manual or mental effort, usually a mixure of both, but money's "worth" is tied to human productivity. So in effect, we could say a loaf of bread sells for $1. If an employee working at the bakery makes $4/hr it then takes 15 minutes on the clock for that employee to buy that loaf of bread.
So let's say the employer raises the employee to $6/hr. by government mandate. The employee can now buy that same loaf with only ten minues work. But the bakery still has to make a profit or risk losing the business and now his expenses have increased $2/hr for 100 employees or $2000/hr. To maintain his profit percentage and pay his dividends to his stockholders, he figures he has to increase the price of bread by $0.50 per loaf. Everybody's happy, right?
Well, except that the employee is right back to square one having to work the same 15 minutes for that loaf of bread. Who's gained anything? Except, guess who? The entity that's collecting eight and a quarter cents on every dollar you spend and collecting 7 1/2 percent of everything you earn for SS, and another 10% for FICA.... etc. etc. Right you are! The same bunch that *forced* the employer to raise his wages AND his prices. It's a win-win for the taxman.
Of course the baker could always choose to lay off some of his employees (who're making $6/hr now) to save the $2000/hr but  that would be...ummm... [nine, carry the one]...WOW! 333 employees.  Again, who benefits?
The minimum wage is nothing more than a political "feel good" measure that does more harm than good. It doesn't help the economy nor does it *really* assist those in minimum wage positions, it just ingrains another measure of the "government will take care of me" mentality.
Minimum wage should only be earned in any case by part time or entry level employees who are in the former case just looking for a summer job or something to bridge a gap or, in the latter, an employee starting out who should be moving up the food chain within six months or a year to a position in which the minimum wage is meaningless in any case.
If someone's been in a job for six months or more and is still stuck with minimum wage, he/she should seriously consider a new line of work!
Ernie

I think that a minimum wage increase would do a great bit of good for our economy. It takes two these days to live comfortably, what I mean is that today's society is a dual income society. Those that are working for minimum wage are having to work two maybe three jobs. Thus, leaving them tired and exhausted and time to their famalies.

Chris, here's the con side of the argument: Wages represent the value society places on particular services. And raising wages alone does nothing to increase that value. So to compensate, when minimum wages increase, the price of all goods and services throughout the economy must also increase so that equilibrium is maintained.

That was too complicated, wasn't it? Let me try again...

Minimum wage increases cause inflation, and ultimately nobody benefits (except maybe the politicians).

The hike seemed a little high when it first passed Congress, but now it seems justified even further. Some would argue that raising the wage is going to contribute to unemployment, and lead to more folks on welfare since their employers won't be able to afford them.

On the flip side, if you are paying minimum, you are getting what you deserve. I hear employers complaining that they "can't find anybody to work" many service related jobs. What they really mean is "I can't find anybody to work at what I'm willing/able to pay".

Even at much higher than minimum wage, I know employers that can't get decent employees to work their conditions/hours/type of work. The hike will have little impact of them.

Been to a cafe that has plenty of seating, but half the place is shut down due to lack of wait staff? And have a 30 minute wait to be seated? I walk out of those places. If they won't pay to have a complete staff, they sure don't need my limited funds to continue operating.

This story is part of a Pro & Con package in the print edition. This is the "pro" side. We're missing online the "con" side and the explanation box.

Until we get this corrected, I'll answer your question that the minimum wage increases to $6.55 on July 24.

Thanks for your patience.