Tuesday, January 09, 2007

Indexing the Minimum Wage

Q: The minimum wage has strong support from many policiticans. So when they vote to raise it next time, why not also vote to index the minimum wage to the rate of inflation, like Social Security payments, and be done with it? Forever.

A: Indexing the minimum wage would end the political payoff from raising it again sometime in the future? Forever.

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