It devalues a bottom line worker by half over a 24 year period, as well as a seniors wealth. 2 of the most important extremes are harmed, meanwhile nobody realizes that inheritance important to fostering a middle class.
Towanda
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My gripe is that when they raise the minimum wage to what it considered a living wage, it screws up everything. For a moment in time, they have more income but then their employers have to raise the price of their product to cover wages and so we all start paying more for all the products. The new minimum wage now only buys what it did before after a period of time. Those who have worked and gotten an education find that we have been punished and can no longer buy what we used to and we have people that flip hamburgers making almost as much as us. So we ask for raises and it all just gets worse. Those of us who have saved for our old ages find that are savings are now worth so much less and for some of us we find ourselves now facing poverty and our savings used up to pay for our medications and reasonable living costs.