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Author: ralphess Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 19513  
Subject: Increasing COL & Congress' part Date: 7/5/2001 5:07 PM
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Ever so often, with a long history of repitition, Congress has increased the Minium Wage. Each time it does, it gives another upward kick to the cost of living, which catches up with those who receive the "minimum", plus everyone else who buys anything and everything.
In addition, the spread between wages paid in the US and those paid in other "world" countries increases, encouraging industry to move out of the US (loss of jobs) and into the other world countries.
And it attacks the principles of our economic system, namely, the principle of supply and demand as a determiner of cost, the cost of labor. It is this increased spread between our labor cost and labor costs in many, many other countries that results in lost jobs in our country. Bought anything lately that wasn't made in China, or Korea, or any of the many other countries we have moved our industries into?
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