Minimum Wage Going Up, Little Help as Costs Soar

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Washington
Posted: 10:37 AM Jul 24, 2008
Last Updated: 10:37 AM Jul 24, 2008
Reporter: Associated Press
Email Address: desk@kolnkgin.com

6 comments

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Friday is the day about 2 million Americans get a raise.

That's when the federal minimum wage goes up 70 cents an hour. The raise -- from $5.85 to $6.55 per hour -- is the second of three annual increases required by a 2007 law.

The bad news may be that higher gas and food prices will likely swallow up that extra cash. Energy costs have soared nearly 25 percent. The price of food is up more than 5 percent.

Then again, there's always next year: that's when another hike brings the federal minimum to $7.25 an hour.

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Posted by: Don on Jul 25, 2008 at 02:08 PM
You still make more than them so don't worry about it. Wait till next year when you both make $7.25 then maybe I will listen to your complaint but probably not because I had the same issue years ago when my company upped its starting wage to $10 and I was at $9 from $7 and I was jumped to $10.50 so I was only after 2 years making .50 mor than the guy that just started but you didn't hear me complain so I don't want to hear yours. If you are doing just fine than be happy.

Posted by: Anonymous on Jul 25, 2008 at 02:06 PM
keep in mind, the minimum wage went up, which means the wages, fed taxes, ss taxes and medicare taxes that the employer has to pay will go up which will effect the prices of the goods being sold. so raise all of our salaries, it would be nice, but then you'll see a jump in ALL of the prices for the things we buy.

Posted by: Anonymous on Jul 25, 2008 at 01:04 PM
excuse me, who are you to tell me I need to adjust my spending?! I am doing just fine thank you-but imagine if you were someone who had started a job working for minimum wage and worked your way up to say $7/hour...now all of a sudden people who are just started are making $6.55...nearly what you do. Is that fair? Shouldn't your wage go up as well? I think so. That is the point I was making, that all wages should go up. I know all about living within my means...don't tell ME to adjust my spending.

Posted by: Don on Jul 24, 2008 at 03:52 PM
Too bad you make too much you just need to adjust your spending a little. I also won't see the raise but I live by my means so if I don't have cash I don't buy the stuff I don't need. If it was fair then you could be getting paid minimum wage and then you could get a raise.

Posted by: Lincoln NE on Jul 24, 2008 at 02:24 PM
I agree with Anonymous. Don't we all have to buy fuel for our cars and food to eat. Everyones expenses have gone up, but that work for a little over minimum wage will not receive these benefits.

Posted by: Anonymous on Jul 24, 2008 at 12:56 PM
I think my wage should go up the same amount that the minimum wage did...it's only fair...

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