Minimum wage increase generates anti-Obama buzz

Minimum wage is one of those touchy-feely Democratic issues that is supposed to take care of those who are mistreated by their thrifty employers, the same issue that is detested by Republicans, claiming it stifles small businesses and increases unemployment.

But in discussions about minimum wage, you hear few pundits compare minimum wage to a nominal 3% inflation rate (see chart right, showing 29 years of minimum wage vs. the 3% inflation curve).

In 2007, congress created the most recent amendment to the Fair Labor Standards Act that resulted in this month's wage boost, however some are blaming the current administration for hurting small businesses through an increase put in place before the election.

If you look at minimum wage since 1980 -- when conservative Republican Ronald Reagan was elected President -- and plot where it should have tracked (through conservative economic incentives designed to produce growth in American industry), it always seems to trail inflation and economic growth by a significantly margin; the US Congress has to make substantial corrections to boost it toward, but never up to, a nominal inflation rate.

Health care workers and agricultural producers are barely getting by, if at all, and corporate CEOs are making tremendous gains.

Why is it that top-end wages have skyrocketed while those of the real laborers have declined or stagnated? In the land of opportunity, this is symbolic of the way opportunity tends to shift toward the wealthy and away from the actual producers and this is yet another example.

In 20 of the past 29 years, you hoped that Republicans would have used their power for the good of main street America, but instead have lined the pockets of their most important constituents; big business lobbyists and their crony political action organizations.