CBS morning report: Minimum wage will be tied to inflation for automatic increase.

According to Major Garrett for ABC,  this WH regulation means employers will pay more than 1.5 billion in increased wages  . . . .   an increase that was not part of their projected expenses.  

Update:  you should know that automatic increases also add to the costs of over-time wages.  What does this mean?  Realistically,  it means that employers will see to it,  that workers do not exceed a 38 or 39 hour work week.  They will either automate or hire more cheap(er) labor.   Yesterday,  Obama bragged,  "We are about to give a pay raise to millions of Americans" as if business has nothing to do with his totalitarian crap.  Understand that minimum wage jobs ARE NOT CAREER jobs.  When Central Planning treats such jobs as if they are career opportunities,  it puts an effective cap on job creation.  No employer in her right mind would hire more people when Central Planning is forcing her to pay higher and higher wages.  It is simple economics,  which tells you just how much educational training Obama has had as to job creation and wealth management.    

Understand that in 1972,  15 million folks were at minimum wage.  Today,  with 80 million more Americans in the population,  only 6 million workers are on minimum wage.  Every time Central Planning pretends that it is helping the working poor,  their actions do just the opposite.  The poor vote "Democrat,"  typically,  and,  as it turns out,  they get what they deserve   . . . . .  no jobs and no future. 

You should know that welfare policies,  even if necessary,  work against the creation of wealth.  And nothing stands as a greater proof of this fact,  than the socialized concentrate we have been fed by the current Utopian Administration these past 7 years.  Time to return to individual responsibility and small business entrepreneurship. 

While Obama brags about the most consecutive months of jobs creation in American history,  these facts remain true:  Food stamp populations have nearly doubled during Obama;  11 million Americans have left the workforce because they can't find jobs,  the lowest workforce participation rate in 34 stinking years  !!!  Slightly more than half our population is on some form of welfare.   GDP averages are at 1.8% for the seven year period,  2.1% if you don't count 2009  . . .  pathetic if you are claiming a "vibrant recovery."  And,  taxation along with regulations have increased to their highest totals in our national history  . . .  a reality that is killing small business.  Again,  my point is this:  an increased welfare state works against the creation of wealth.  Of course,  welfare is critical to those unqualified or unable to work.  But to increase that population,  to allow and encourage it to grow,  that is an unsustainable circumstance.  Wealth is ONLY created by those who actually work or create and run businesses  . . . . . .   period.