[jkarolyi]

So what's the first order of business for our newly elected socialist nee democrat congress? Raising the minimum wage by almost 50%. How is this supposed to help anyone? Do democrats honestly think that McDonalds and Tyson foods will say "Oh, jeez, out of the goodness of our hearts, lets give up our profits and fat executive pay so we can pay these increased wages"?

Firstly, corporations will have increased incentives to replace people with computers or automation. Why do you need someone taking your order at Mickey Ds? Introduce touch screen ordering systems. Already done for airport check-in! High wages encourage investment in labor saving devices...history has proven this. More factories will close shop and move overseas. Prices of goods and services will rise, further feeding inflation.

Labor should be priced at its true market value...trying to regulate this just causes problems.

Can anyone think of any advantages of increasing the minimum wage other than fulfilling some feel-good campaign promises? Should we require all congress members to take a class in economics?