Colorado Minimum Wage to Drop; Poor Hardest Hit
Colorado’s minimum wage is dropping three cents, to $7.25 per hour. It is tied to inflation, and would actually drop more if not for the unconstitutional federally-mandated minimum wage of the same amount.
I have no problem with this. Since it is tied to the actual cost of goods, the net effect should be, more or less, zero. But don’t let that stop a reporter from zeroing in on the pain and suffering it will surely inflict on those unfortunate enough to still be making minimum wage. A quote from the article:
“Yeah, it’s 3 cents an hour. But that 3 cents an hour adds up at the end of 12 months,”
Does it? Let’s see. Three cents an hour in a forty hour work week adds up, before tax, to $1.20, or about the cost of a Coke at Wendy’s. Over a year, it adds up to $62.40. That’s about the cost of a newly-released Xbox 360 game.
So, what does it add up to? Not a lot.
My point: it takes about 20 seconds to open up Windows calculator and do the math required to put this in proper perspective. That’s 2o seconds that the AP, apparently, couldn’t spare.
Feel free to cast me as someone who hates the poor. If you can make that illogical leap, well, then quite frankly I don’t care what you think of me.
