In some fields, but not in CS. A masters doesn't get you more money. What gets you more money is experience, especially experience in the field you're looking for work in, and the ability to negotiate. There's just no point to extra years of school in CS, you learn on the job or through self study everything you'd learn in the masters courses.
Untrue. As someone who has (in the past 3 years) both tried to find a job with a Bachelor's degree and then with a Master's degree, I have personal first hand experience on this.
First of all a job will never teach you what you learn in a Master's program and vice versa. The experience of focusing on one problem and becoming a world expert on it is hugely different that working in a commercial setting. Unless your job is working in R&D and doing academic research, the two things are pretty polar.
Which brings me to my next point. In computer science _especially_ not only will a Master's degree open up doors that would have never been there if you simply had a Bachelor's but the pay will be higher.
This is a world where every one has an undergrad degree, and it's also a world in an economic recession. The best way to differentiate yourself from your peers is to spend the two years, and prove you that you can focus on one thing and become super knowledgeable. You'll have your undergrad degree to show you can learn a breadth of topics, and the Master's will be something that sets you apart from the other applicants.
I do agree that spending the time on a PhD is a complete waste, unless you want to go the pure academics route (and become a professor, etc). The pay over a Master's degree is negligible, and it may actually close some doors since the perception is there that you'll want a lot more money.
That being said I also agree that experience matters more than anything. Spend every summer working in your field. Take advantage of co-op and internship programs. Work part time doing anything related to the job you eventually want to get.
And absolutely yes, if you want a Master's degree, get one. It will help significantly, and it will also get you more money.