Unless you live in a cave, you have probably heard that the Federal minimum wage increased to $5.85 an hour today. The part you may not have heard is that 32 States and the District of Columbia already require a higher minimum wage — so, those areas will see no change.
The Department of Labor has a map showing the status of various States’ minimum wage laws. No surprise, Oklahoma simply follows the Feds. Here, at least, the minimum wage increased for the first time in almost ten years — and with more to come. If you haven’t heard the details, today’s change is just the first step of a three-year process. Next year the minimum wage will increase to $6.55, and then in 2009 it will increase to $7.25.
Ahhh, but Miss Elaine, surely you realize that the increase in minimum wage was but a sop to the unions by their grateful servants, the Congressional Democrats now back in power thanks to the same unions getting out the vote…. all union contracts are based upon the local minimum wage, so every one of them got a nice little pay raise. And, of course, every union service and product will cost a little more, further pricing American goods out of the world market.
Spoken like a true creditor’s attorney. The transformation is now complete.