COLA Quotes
COLA means Cost Of Living Adjustment, where wages, or payments of some kind are increased periodically to keep up with inflation. Most of those who call for COLAs do not claim that they fight inflation. For them the purpose is not to allow a particular group of people to get hurt by inflation. COLAs strictly speaking do not create inflation since they are only activated by inflation that was otherwise created. However, they certainly accelerate the inflation just like every price or wage increase during a time of inflation.
There were good arguments for having and increasing the Federal minimum wage and also against it. The Economics and data were contradictory and non-ideologues like Buffet just did not know which was the best policy.
