Every time the country has significantly increased the minimum wage, I would venture a guess that many have reacted very much like Tom Allen, warning of everything from inflation to job loss. The first minimum wage law was passed in 1938 and set at the huge sum of 25 cents per hour. It was part of the Fair Labor Standards Act that dealt with child labor, 40-hour work week, overtime, etc.
Here we are in 2021 with an economy that has grown from $4 billion in GDP to $21 trillion in GDP regardless of continued increases in minimum wage. It […]
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