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Politics : Formerly About Advanced Micro Devices
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To: Road Walker who wrote (372224)2/27/2008 9:05:40 PM
From: TimF  Read Replies (1) of 1576159
 
A very small effect if the increase in the minimum wage is very small, or if whether or not the increase is small the required wage at the end is significantly below the market clearing wage for unskilled labor.

Obama is calling for a living wage. I don't know what exactly he means by that but many state or local living wage laws increased the minimum wage by quite a lot.

If he means something like $12/hour its unlikely to be a very small effect. If instead he means something like an extra 50 cents an hour than why bother calling it a "living wage".
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