Sharp increases in the minimum wage rate are also inflationary. Frequently workers paid more than the minimum gauge their wages relative to it. This is especially true of those workers who are paid by the hour. An increase in the minimum therefore increases their demands for higher wages in order to maintain their place in the structure of wages. And when the increase is as sharp as it is in H.R. 7935, the result is sure to be a fresh surge of inflation.
Richard M. NixonIf you think the United States has stood still, who built the largest shopping center in the world?
Richard M. NixonWatergate had become the center of the media's universe, and during the remaining year of my presidency the media tried to force everything else to revolve around it.
Richard M. Nixon