Saturday, July 28, 2007

In Depth Analysis: Minimum Wage to Top $40.00 by 2021, $80.00 by 2026.

After successfully passing a minimum wage hike every year, for the next 3 years, the Democrats, led by Ted Kennedy want to build on their success. The Democrats have just passed the The Fair Minimum Wage Act of 2007 which raises the minimum amount from $5.15 to $5.85 to $6.55 next year and then $7.25 in 2009. Kennedy is proposing a new minimum wage of $9.50 in 2011.

Market Factors noted that going from "about $5.00" to "about $10.00" by 2011 is, in fact, a doubling of the minumum wage in 5 short years. Using state-of-the-art software, our numbers show that based on planned initiaves, should they continue, the minumum wage may double again and hit about $20.00 by 2016 and about $40.00 by 2021.

"We weren't having much luck with the rest of our agenda, so we have decided to stick with what we know we can acomplish." said one Democratic insider. "We may or may not have a minimum wage bill pass every year, but we feel pretty confident we can double, or nearly double, the minimum wage every 5 years. It keeps our base happy and if we could get these increases passed sooner, much sooner, it may really help with the current market liquidity problems."

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