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Opinion

Opinion: The Minimum Wage: Who Actually Wins, and Who Loses?

The Biden administration’s “American Rescue Plan,” a $1.9 trillion relief package, has prompted intense debate, especially its proposal to raise the federal minimum wage to $15 per hour by 2025. Although Econ 101-style arguments abound, it’s worthwhile to ask who supports the minimum wage, and why. Both economic theory and empirical research suggest that raising the minimum wage would increase the

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