From http://mhaille.livejournal.com:
***Begin Quote***
. While I am not a particular fan of hers *, and I realize that there are economic ramifications to making a drastic jump in minimum wage that I don't fully understand, you really have to admire the beauty of that concept. It's a good thing I'm nearly as easily amused as I am pissed off. * She and Lieberman are still on my shit list for their stance on violent video games and music.
***End Quote***
Sounds like a positive feedback loop!
The FED inflates the currency. Congress raises the minimum wage. All the union and government workers make more money. All the federal non-union "executives" have to make more than those they "manage" so they get a bump. All the gummamint execs can make more than Congress so they get a bump.
Now, if Congress legislates a rise in the minimum wage when Congress gets a raise, the it completes the feedback loop.
When I was in injineering school, we waz taught that positive feedback loops eventually destroy themselves. Power increase means increasing power. Very quickly the whole thing melts.
Back to Hillary's latest "proposal", who melts down? The taxpayer (higher taxes), seniors on fixed income (inflation), non-union non-gummamint workers (higher prices), property owners (higher taxes), small businesses (have to pay higher wages), low wage workers (unemployed if wage exceeds value generated), and welfare recipients (they don't get more but inflation get them).
Great plan!
I got an IDEA! Peg congress critters and their staffs to a dollar a year. It's an honor to serve your country. They would have to rely on what they steal. They do that anyway. Just think, no government salaries, pensions, or paid heathcare. Double dippers could have TWO dollars!
Wow we'd save gobs and gobs of money!
Reinke Faces Life 