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What Should the Minimum Wage Actually Be?

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We often debate this question. $15? $20? Is that too much? At point might it start actually affecting employment? One sensible way to set the minimum wage is to tie it to worker productivity. And if that’s the standard, according to Nicholas Buffie and Dean Baker, the minimum wage could be $18.42, if we tie it to the reasonable standard of peak purchasing power for the wage, achieved in 1968. Seems reasonable to me.

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