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> Raising minimum wages and inflation are very, very different. Not so different, in terms of how they impact purchasing power. If anything, though, inflation
by core-questions 7y ago
> Raising minimum wages and inflation are very, very different.
Not so different, in terms of how they impact purchasing power. If anything, though, inflation is more egalitarian because it impacts everyone and everything.
- perl4ever 7y agoOnly a couple percent of hourly workers make minimum wage or below. That's why people keep saying raising it doesn't create inflation that cancels the raise out. Most of the inputs to a typical basket of goods are not minimum wage labor. See: https://www.bls.gov/opub/reports/minimum-wage/2017/home.htm https://www.bls.gov/opub/reports/minimum-wage/2017/home.htm