I live in the GREAT State of New Jersey,
Where Democrat lawmakers just tried to pass a $1.75 minimum wage increase to $8.50 an hour. But they also wanted to tie the minimum wage to the CPI.
Christie vetoed the bill, but then said he wants to raise it by only $1 over three years. Fat sellout.
Back to the point of this thread.
How harmful would this policy be tying the minimum wage to CPI?
I can only begin to imagine the horror... but I will leave the explanations to the more economically inclined.
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