LETTER: Minimum wage will have inflationary effects
If members of Congress impose such a massive increase in the minimum wage, regardless of how it is stretched it out, how are they going to compensate seniors on fixed incomes? Or do they intend to impoverish all those who worked for their retirement given that they will not be able to afford Walmart or the 99 Cents Only Store? If they make a matching increase in the retirement and Social Security so the elderly do not end up as the ones in poverty, then what has been accomplished?
If semi-skilled workers started at $15 an hour and are now making $18, they would have to be given a $3-an-hour increase or they will be making only as much as the new guy. Can someone explain how creating massive inflation is good, because I am really baffled by the reasoning.
