That law is a massive deception:

The minimum wage goes from $5.15 to $7.25 in 2009. Right now, it's BARELY higher -- $5.85 instead of $5.15.

Later this year it goes to $6.50, then next year it'll finally hit $7.25.

So, while the current 70 cent increase certainly represents "a raise," I defy you to show any meaningful effect on anyone's life. Workers will have to hang on until the middle of next year.

Anyway, the point was that today's inflation is NOT the result of any artificial government influence on the wage structure of the nation. It's largest influence is the price of oil.
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