Day by Day Cartoon by Chris Muir

Saturday, March 22, 2014

Letter to the editor

Today in the Beloit Daily News, the editorial was "let's tie the minimum wage to inflation and solve all the country's problems.

Here's what I just sent in to them:

About the minimum wage:

We have had this law for decades, and for decades we have been ignoring the real problem. It's not that people get paid too little, it is that our government spends too much and prints money to make it look like our economy is growing.

Tying the minimum wage to "inflation" would institutionalize government overspending by making the dying economy invisible to most people. As prices rise, so would their incomes. When you make $50.00 an hour at Burger King, a hamburger costs $15.00, and gas costs $15.00 per gallon, your standard of living is about what it was when your pay was $5, and gas cost under two dollars.

Let's reduce our federal and state governments to the levels authorized in their respective Constitutions, and perhaps inflation will go away. If our government does not have to spend half it's income on debt service, it can provide the services required by Constitutional laws without the Fed doing any more "quantitative easing" by the billions, and without any more "too big to fail" bailouts.

While we are on the subject, how about a real in-depth audit of the Federal Reserve? It is long overdue.

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