Monday, July 6, 2009

Real Minimum Wage Cut

I think this is a disgrace! We are going through a global economic downturn with rising unemployment. However, that does not make it alright to cut the real minimum wage. It will lower the standard of living for those on the minimum wage. A lower than normal increase in the nominal wage would've been perfectly understandable in the current economic environment. I would have thought an increase inline with inflation (resulting in a frozen real minimum wage) would've been reasonable and affordable.

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