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Can you say inflation? When wages and prices rise, that is what we get. Remember Jimmy Carter and 10 percent annual pay increases that purchased no more than the year before? Inflation will also cause the Federal reserve Bank to raise interest rates, increasing the cost of buying a home or borrowing money for any other purpose, and workers’ 401 (k) and other stock oriented pension funds will earn less or actually lose value. Higher wage will buy less because of higher prices. Will current minimum wage earners be better off because of their increase? Those who remain on minimum wage will find a reduction in buying power has left them even or worse off than before. How many others would be in favor of a minimum wage increase if they realized they
90.7%