LLR Pages

Tuesday, July 24, 2007

Federal Minimum Wage to Go Up Today

The federal minimum wage begins hiking for the first time in a decade today, boosting from $5.15 an hour (the wage set by Clinton and his congressional cronies in 1996) to $5.85 an hour (one of three hikes to be raised each summer until 2009). After three hikes, it'll be officially at $7.25 an hour.

Thanks goes to Herr Bush who signed the wage edict into law last May. Obviously, the Republicans caved into the demands of the Democrats for fear of being viewed as "heartless" and "unsympathetic to the poor." But then again, the GOP supports minimum wage edicts as long as they are crafted in their favor.

Wait until the unemployment rate starts to rise again. By then, the collectivistic leftists and rightists on both sides of the aisle will blame the market for "market failure" as they usually do.

For more on the minimum wage claptrap, click here.

For facts on why minimum wage laws are job killers, click here.