Re: Your October article on the proposed minimum wage hike
("Business Beat"): The feds are going to do it to us
again. The economy cannot take a big hike ($4.25 to $5.15 is an
increase of over 21 percent).
If some employees get an increase of 21 percent, unions and
other employees will say, "Hey, me too!" As overhead
rises, the price of the product you sell must also rise. This is
called inflation. It won't take long to wipe out the increased
buying power of the dollar they just gave them.
I say to the feds, "Get real." The only way to get
minimum wage earners more buying power for their dollar is to
balance the budget. Once we have a balanced budget, the feds can
lower taxes. The wage earner will have more spendable dollars. And
as business increases, prices will decrease.
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Sherman Latulippe
Royal Palm Verticals & More
Loxahatchee, Florida
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