Many people say raising the minimum wage is a job killer. In real wage terms (when you factor in inflation) – the minimum wage is lower today than at any time from 1956 to 1983. The money a person makes today on minimum wage buys less than it would during those years. But the report found that contrary to the myth that jobs will be lost – we would see an increase in jobs overall due to strengthening the buying power of those making these entry level wages and thus we would see economic growth. In addition to this – over 750k people would be lifted out of poverty with another 750k would see significant personal gains from near poverty levels. The bottom line is this – raising the minimum wage is a major win for the middle and lower classes.
Report: A Living Wage Would Boost Economic Growth & Employment ‹ I Acknowledge Class Warfare Exists
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