Please enjoy the excerpt below and click here for the full webinar replay to hear more.
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There are many people who think that raising the minimum wage to $15 an hour will be an onerous burden on businesses and could lead to some kind of manifestation of inflation. But for a consumer-driven economy like our own, I think it’s very hard for us to argue against consumers who are earning more being more likely to spend more, and that would have a net positive effect on the economy, not to mention the fact that the more taxable revenue there is, it ought to mean that more solvent government will occur.
That matters increasingly, given that our government and its global equivalents have been spending stimulus money hand over fist. Even outside of the moral question of who should earn what wage and at what level, I think it would be a net positive for our economy.
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*Webinar recorded after the market closed on Wednesday, January 27, 2021.
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