Monday, October 18, 2010

Repeal the Minimum Wage

There is a movement sweeping the nation to repeal the minimum wage as unconstitutional, although it was ruled constitutional.  With the Roberts' court it would be overturned.  Except for the tea party it is just an issue to get votes no one has yet to file a case.  I agree with all of the arguments, its costly, its inflationary, its a job killer.  My question is, if we repeal it what kind of wages can we expect to see in the future and once we get into the race for the bottom will other prices fall proportionately?  My guess is wages will free fall and prices will stagnate much as they are now with no sales.  Welcome to the Brave New World that we are heading for.

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