Monday, August 07, 2006

Inflating Our Way To Prosperity

A caller to the Jack Pattie Show in Lexington this morning asked Congressman Ben Chandler how we address the inflationary impact of a minimum wage tax increase Chandler wants.

His response was a decent political non-answer answer, but it displayed a pitiful grasp of simple economics.

Chandler said "prices have already gone up without the minimum wage going up."

So how exactly is more inflation going to benefit us, then?