First, raising minimum wage for federal workers would make sense if we have more tax revenue to be able to pay it.... Think about it!
Second, raising federal minimum wage for "everyone" surely may mean that millions of people get payed more, however, it also means that all of those goods and services for which these people supply will in-turn cost more at the register. Businesses will raise their prices. They will not take a financial loss. Therefore that couple extra dollars will not stay in your pocket for long, if at all. (Or, sad to think, we may see rapid outsourcing... Which causes layoffs. Which spirals into deeper personal and national financial issues.)
Third, income tax is measured by a percentage of your income, and sales tax measured by a percentage of those higher prices, therefore you will subsequently pay more taxes.
Consider this:
Less for you, same for businesses, more for government.
My alternative suggestion: Live within your means, budget your income wisely, earn your paycheck (don't just collect it)
That's all...
RJL
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