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Well, that particular line of reasoning isn’t terribly convincing as such. If I’m paying you $10 an hour, and you spend that on stuff I sell, at BEST I manage to break even. The effect is something that has to be spread across a very, very large area and a very large number of businesses for it to overall increase productivity and lead to actual profit rather than just recirculation.
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I agree that it needs to be for everyone, yes. More money in the pockets of the rich, and they stick it in a bank and it doesn’t trickle down. More money in the pockets of the poor and they spend it (because they have to for basic things like food, shelter and clothing) and the money trickles up and helps everyone.
Every time we raise the minimum wage, the economy improves. People who say otherwise either don’t understand economics or are lying.
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