|Some SD Legislators Are Concerned With Deflation|
(graph from wikimedia.com)
As academic exercises go, this one is a doozy. Over the past 100 years in the United States, inflation has occurred during 87 of them. Since 1950, it has occurred during 63 of 65 years, the two exceptions showing deflation of less than 1 percent. Like it or not, inflation is probably endemic to a growing economy, and certainly the last century of steady upside economic growth has been the proof of that particular pudding. I'd be amazed if Representative Bolin and his political allies don't know and understand that. Given the odds and the history of inflation, those tinkering with this law are doing so as a political gesture, meaningless in real life. They're basically telling South Dakota's voters that their intentions don't matter to them. I suppose they can fall back on the "tyranny of the majority" defense when they justify their political fine-tuning, claiming that some individuals are having their rights trampled upon by the passage of the minimum wage law, but so far there hasn't been much of a groundswell from among those who might claim to be hurt. This is politically generated activity, not something remotely connected to a grass-roots endeavor.
|What The Voters Giveth, The Legislature Taketh Away|
Maybe, Just Maybe, The Voters Got It Right
In the end, indifference to the voters, arrogant as it is, might actually turn out to have some upside for supporters of the law as it was passed last November. If those who hate the automatic inflation adjustment think this endeavor is a prelude to getting the COLA component out of the law, they're quite mistaken.Resetting the deal to make decreases as mandatory as increases only entrenches the concept that inflation adjustments are part and parcel of the law. It basically will give COLA supporters the ammo to point out that the law allows for automatic decreases as well as increases, so why the fuss over the COLA connection? Fair's fair, right? Right. As I see it, if Bolin loses, the voters win, and if Bolin wins, the voters still win . . . and I'm okay with that.
Addendum (added on 2/8 @0553): Bolin's arrogance and contempt for the voters was on full
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