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Minimum Wage

When you raise the minimum wage, a lot of things are bound to happen, to different degrees.

  1. Costs go up
  2. Profits go down
  3. Fewer people get hired
  4. People get hired for fewer hours
  5. People make more money
  6. People buy more stuff
  7. Tax revenue goes up
  8. Welfare payments go down
  9. People save more
  10. People have been priced out of the market and can't get a job
  11. Companies invest more in automation, leading to permanent job loss
  12. Workers improve their skills because the low-skilled jobs are gone
  13. Prices go up
  14. ...

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Coffee with Calvin #92 - Deb Mangelus - politics, parenting, children, kindness and politics.

 

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