Minimum Wage

Minimum Wage goes up Friday, from $6.55 to $7.25. An 11% increase.

I have always thought the minimum wage should be an amount that one could truly live on. Yes you are going to have to sacrifice to live on that amount, but it should be an amount you can get by on.

But this seems a bad time to make this increase. The thought is if people make more money they will spend more. But what about the businesses that now have a sudden higher payroll? Seems to me like this will lead to more jobs being cut. Since it is not a guarantee that the company will suddenly have more business to offset it's new higher costs.

In 2006, just 3 years ago minimum wage was $5.15. Where we will be Friday is a 29% increase.

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