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By Tim Worstall, Dec 18, 2015 Forbes
What’s missing is that sure, those people who keep their jobs and their hours with a higher minimum wage gain less in welfare payments. But some people don’t keep their jobs and their hours as a result of this higher minimum wage. And so what is important to the welfare bill is whether the incomes gained and reducing welfare outweigh those lost and replaced by welfare? The answer seems to be that it’s much of a muchness, no great effect either way.
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