Clayton Cramer looks at two arguments against raising the minimum wage; one that doesn’t work, and one that does.

UPDATE: Scott at ScrappleFace nails it once again

(2007-01-10) — Republicans in Congress, in a last ditch effort to provide economic justice to America’s working poor, today introduced a bill that would raise the national minimum hourly wage from $5.15 to $84.25.

The bill, offered just hours before the Democrat-led House attempted to raise the rate to $7.25, is roughly based on the what Congressmen earn for working 40 hours per week for 50 weeks per year, although the actual working part is optional in Congress.

Under the terms of the GOP-sponsored measure, the minimum wage would also track Congressional pay, which typically includes an annual cost-of-living-it-up increase.

“Hiking it to $7.25 won’t make a dent,” said one unnamed Republican House member, “But at $84.25, we’ll eliminate poverty.”

Read the whole thing for a good laugh.

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Filed under: Economics

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