"Within your own generation-the same songs, the same wars, the same attitudes toward those wars, the same rules and radio shows in the air-you can gauge the possibilities and impossibilities. With a person of another generation, you are treading water, playing with fire."

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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. Nixon