When it kicks in, get ready for price hikes in the lodging, restaurant & merchandising industries. Who is this supposed to help again? Here's a quote from the Bureau of Labor Statistics 2004 report on the minimum wage:
Minimum wage workers tend to be young. About half of all hourly-paid workers earning $5.15 or less were under age 25, and about one-fourth were age 16-19. Among teenagers, about 9 percent earned $5.15 or less. About 2 percent of workers age 25 and over earned the minimum wage or less. Among those age 65 and over, he proportion was 4 percent.Teenagers and those are the ones who will will suffer the most. Pizza places & stores will cut back and get by with fewer workers doing the same amount of work.
I will have to spend more of my hard-earned money for pizza, movies, and clothes.
Thanks Congress.
