Do the Wal Mart heirs really need another Mercedes?

[strandinthewind]

I mean I get that an increase in wages has an effect on prices and employment. But, at some level, the people making like $20 million + a year should take a hit so people can eat


Bid to increase minimum wage nixed

WASHINGTON (AP) -- The Republican-controlled Senate refused Wednesday to raise the minimum wage, rejecting an election-year proposal from Democrats for the first increase in nearly a decade.

The vote was 52-46, eight short of the 60 needed.

"I don't think the Republicans get it," said Sen. Edward M. Kennedy, D-Massachusetts, who backed a proposal for a three-step increase in the current wage floor to $7.25 an hour. The federal minimum wage has been fixed at $5.15 an hour since 1997.

Republican critics said the minimum wage was a job killer, not the boon to low-wage workers portrayed by Democrats.

"This is a classic debate between two different philosophies. One philosophy believes in the marketplace, competition and entrepreneurship, and the second is a philosophy that says government knows best," said Sen. Johnny Isakson, R-Georgia. He said France and Germany have high minimum wages but also high unemployment.

But Kennedy and other advocates of an increase said minimum wage workers have been without a raise since 1997.

Underscoring the political context of the debate, he said if Democrats win the Senate this November, a minimum wage increase will be one of the first pieces of legislation to be considered.

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