Here is my spin. Raising minumum wage is not only a stupid idea, but it will make the economy worse and cause a sudded rise in inflation.
Raising minumum wage makes prices go higher. For example you raise the wage by 4% well everything goes up in price by approximatly 4%. And the only people who are making more money are the people who are working at the lowest wage level anyway. Ppeople may make more but they end up spending more int he long run anyway.
I for one am glad that this bill was shot down. Minumum wage helps those who refuse to get a good job or cannot get a good job.
We all know that if you really want to o to school, you can. If you really want a job making 8-10 dollars an hour you can get one. they are not hard to find or difficult to get. America needs to stop asking for Higher wages they need to ask for everything else to get less expensive and for the Government to do something about inflation. Anyway just my two cents what does every body else think.
Quote:
WASHINGTON — The Republican-controlled Senate refused Wednesday to raise the minimum wage, rejecting an election-year proposal from Democrats for the first increase in nearly a decade.
The vote was 52-46, eight short of the 60 needed.
"I don't think the Republicans get it," said Sen. Edward M. Kennedy, D-Mass., who backed a proposal for a three-step increase in the current wage floor to $7.25 an hour. The federal minimum wage has been fixed at $5.15 an hour since 1997.
Republican critics said the minimum wage was a job killer, not the boon to low-wage workers portrayed by Democrats.
"This is a classic debate between two different philosophies. One philosophy believes in the marketplace, competition and entrepreneurship, and the second is a philosophy that says government knows best," said Sen. Johnny Isakson, R-Ga. He said France and Germany have high minimum wages, but also high unemployment.
But Kennedy and other advocates of an increase said minimum wage workers have been without a raise since 1997.
Underscoring the political context of the debate, he said if Democrats win the Senate this November, a minimum wage increase will be one of the first pieces of legislation to be considered.
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