The U.S. Senate decided to pass the minimum wage bill, which will increase the minimum wage to $7.25. Oh brother. I would have voted to ditch it, not raise it.

Senator Edward Kennedy said this:

Passing this wage hike represents a small but necessary step to help lift America’s working poor out of the ditches of poverty and onto the road toward economic prosperity.

That road to prosperity must be full of pot holes. Not only are these people not going to be more prosperous, the minimum wage increase will have financial ripples throughout all industries and government.

What’s going to happen to the guy that is making $7.30 right now? His job was valued at around two dollars above minimum wage. Now that minimum wage has increased, has his job increased, decreased, or stayed the same in value?

As stated before, minimum wage should be determined by the wage people are willing to work for. A blanket wage for every state and every job is ludicrous.

The minimum wage is unlikely to affect me directly, but I’m still scratching my head over why some people think that minimum wage actually helps the situation.