I saw this
article indicated that Mitt Romney had suggested that the
minimum wage be tied to increases in inflation. There are a number
of problems with this including what conservatives have long argued
-- the adverse affect on employment particularly at the entry level
if minimum wage continues escalating. One can imagine that in a
stagflation situation such a proposal would be especially harmful.
Andy Roth, spokesman for Club for Growth, hates it even as a
political strategy to try to remove it as a political weapon for
liberals to bash conservatives, contending "It's a horrible idea,
even as a political maneuver. Once you give liberals an inch,
they'll take a foot." Well, Romney seems not very enamoured of it
either. According to his spokesman, Romney did not mean this
comment to be taken as a policy proposal that minimum wage should
be tied to inflation. According to spokesman Kevin Madden, Romney
continues to believe that "economic indicators should be considered
as part of any discussion about raising the minimum wage" and that
he would oppose any proposal which would cause an "abrupt change or
a disproportionate increase that would threaten eliminate jobs,
especially at the entry level." I'm not sure why he threw it out
there but I am relieved the idea is apparently not part of his
economic agenda.