As you may know, the federal minimum wage will increase from $5.15 to $5.85/hour, which is a 70-cent raise. This will happen again in 2008 and 2009, which by the end will make the new federal minimum wage $7.25/hour by the end of 2009.
Of course, this is being touted as a victory for everyone making the current minimum wage of $5.85, but the reality is that in the long-term it won't mean much and it may even hurt the very people it intends to help. I know that a lot of people will refuse to listen or accept the idea of this, but I truely believe it to be the case and I've saw the evidence first hand while working a minimum wage job myself.
Federal Minimum Wage To Increase to $7.25
Yeah...pass it along to the consumer in the form of higher prices. We couldn't possibly take the hit out of our epotentialy growing corporate profits. God forbid some CEO can't afford to trade up his Hummer this year....and to those in the middle of the wage scale...shut up with your "relative worth crap"...you're already making a decent wage. Raising the standard of living for those at the bottom requires the rest of us to sacrifice. Let some business owners and CEOs live for 120 days on minimum wage, just like the Congessmen who had to live on food stamps. Apparently, you've been drinking the Chamber of Commerce Kool-aid that has had people believing this warped perspective for years. They even have you believing you've "seen it with your own eyes". This is Republican fuzzy math at its worst, and assumes a chain of events that is highly unlikely to happen, because at the end of the day, they still need someone to sweep the sidewalks and bag groceries whether it costs them $5.25 per hour or it costs them $10 per hour. I say put the minimum wage at a reasonable level and then tie it to Congressional pay raises!