Why Van Jones' Take on the Republican Convention Should Make Dems Nervous
There's One Dem Biden Is Supremely Irritated With Right Now
GOP Rep Goes on CNN and Destroyed the Network's Fact-Checker Live On-Air
Would Jefferson Have Told You What Kind of Horse You Could Buy?
Our Precarious, Flabby Military and a Generation of Unhardy Americans
Joe Biden's National Rent Control Plan Would Be a Very Bad Idea
Democrat Rep. Sheila Jackson Lee Loses Her Battle With Cancer
Biden Co-Chair Chris Coons' Remarks About Biden Staying in the Race Sure Are...
Biden’s NPA-A Announcement Jeopardizes U.S. Energy Security
End Small Business Tax to Make Main Street Great Again
Duty Drawback Example of Corporate Welfare
Joe Biden, American Lemon
Poverty Is Caused by the Dad Gap
Never Forget That Political Rhetoric Lives in the Realm of Hyperbole
MSNBC Attempts to Trick Viewers Into Thinking They Were at the RNC

Colorado Becomes 1st State to Drop Minimum Wage

As a sign of dire economic times (and proof conservatives are right yet again), Colorado will be the first state to decrease its minimum wage -- an unheard of action since the state first adopted a minimum wage law in 1938. 
AP reports:
Colorado's wage is falling 3 cents an hour, from $7.28 to the federal level of $7.25.  That's because Colorado is one of 10 states that tie the state minimum wage to inflation.  The goal is to protect low-wage workers from having unchanged paychecks as the cost of living goes up.

But Colorado's provision also allows wage declines, and the state's consumer price index fell 0.6 percent last year, so the minimum wage is going down.

The lower consumer price index, attributed to lower fuel prices, would have forced the wage down 4 cents an hour, but no state can go below the federal minimum of $7.25.
As inflation continues to rise, 14 states and the District of Columbia will continue to keep their minimum wages above the federal level.  Other states with adjustable minimum wages aren't expected to drop their wage levels; in many states that tie wages to inflation, minimum wages have already met the federal minimum and can go no lower. 
In Florida, for example, a declining consumer price index would drop the wage 4 cents to $7.21.  But that's less than the federal minimum wage of $7.25 an hour, so paychecks won't change for Florida's lowest-paid workers.
Hmm... what happens when government artificially inflates wages and the markets aren't allowed to dictate worker pay?


Join the conversation as a VIP Member


Trending on Townhall Videos