On Friday, the federal minimum wage will increase from $6.55 to $7.25, an increase of almost 10.6%. This increase is the final installment of the minimum wage increase that Congress added to the 2007 Iraq War spending bill. The program will raise the income level of many Americans who are currently employed in minimum-wage, often entry-level positions. Unfortunately for Congress and the American public, this legislation will have several unintended consequences. Raising Minimum Wages Will Increase Unemployment – As any Economics 101 student could tell you, if the price of …
Should Cheerios be regulated as a drug? That’s what the FDA suggested last month in a letter to the breakfast cereal’s maker, General Mills. The issue originated with a claim on cereal boxes that says Cheerios will “lower your cholesterol 4% in six weeks.” The FDA said in a letter to General Mills that the company’s advertising makes “unauthorized health claims.” Apparently, General Mills would not have been in violation of FDA rules had they left out a specific degree of cholesterol reduction. That pesky little four percent is enough …
