posted on Dec, 27 2004 @ 12:36 AM
"Yes I am reading what you are saying, and no I disagree that raising the minimum wage will rase the cost of living."
Shots, every time the minimum wage has been raised, there has been a correspoinding increase in the cost of living, usually manifested in three to six
Think about it: if my wage goes up from $5 to $7/hr, I will have an additional $2/hr or $80/week to spend on something I couldn't afford before.
It might be a new Martin guitar or a better apartment.
If it's the former, you will see a lot of people just like me, with an extra $80/week in discretionary income, trying to buy Martin guitars. Problem
is, old CF Martin IV is not going to magically ramp up production, and, with more people chasing fewer guitars, the prices will rise -- and well they
should, because people will be competing (and "bidding" against one another) for those Martins. When you have more people chasing the same amount
of things (or the same amount of people chasing fewer thingies, the price of those thingies goes up -- always.
[edit on 27-12-2004 by Off_The_Street]