It looks like Democrats may be planning to make an increase in the federal minimum wage an issue during this election season. It's been three years since the last increase, which set the minimum wage at $7.25. During that intervening time seven percent of its purchasing power has been lost; a family of four relying on a minimum wage income in 2012 is now…
The minimum wage is not intended to be sufficient to support a family of four. It actually ends up hurting the individuals that it is intended to help.
I'll follow up with a post on my sight about how increases in the minimum wage actually helps out labor unions.
