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wrote:

Pete C. wrote:

Minimum wage laws are nothing more than politicians buying votes. Any
minimum wage increase results in a year or so of phony bubble in the
apparent standard of living while the market forces via inflation
re-balance the economy so that the net result is exactly the same work
to standard of living balance as before. The numbers go up in both the
wage and then cost of living, but the ratio remains the same.

It sounds like what you are really pointing out, without realizing it,
is that our economy can only function by exploiting some fraction of
the workforce: ie, paying them less than the cost of living.

If that's true, we'll have a problem as soon as the various games we
play to deny it catch up with us.

Not at all, the point I was making is that when you link out economy to
ones that are not compatible then it "breaks" our economy. Eliminate the
constant influx of illegal immigrants sending money home to their
country, eliminate outsourcing of jobs to other countries and have the
work done in this country and the economy will properly bring itself
back in balance.

When the wages being paid are referenced to the local cost of living and
that local cost of living goes back into the local economy, the feedback
loop is closed and the system balances. Break that feedback loop and the
brown stuff hits the spinning blades.

Pete C.