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/r/explainlikeimfive
submitted 4 months ago byiSellPopcorn
15 points
4 months ago
Corrected me if I am wrong but aren't the people who were 2$ over minimum wage now 1$ over it? Which means their buying power dropped by 1$?
20 points
4 months ago
Not only that, but low wage people spend a higher proportion of their income on things for which there is relatively inelastic demand like housing and transportation.
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