Election Uncertainty To Cause Market Correction By Summer? | Lance Roberts & Adam Taggart
Thoughtful Money with Adam Taggart
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The Impact of Minimum Wage Laws and Financial Strain on Consumers
This chapter delves into the repercussions of increased minimum wage laws on small businesses and low-wage workers, discussing job cuts, reduced working hours, and automation as responses to rising labor costs. The effect of rising prices, particularly in food costs, on consumer behavior is explored, with a significant decrease in dining out observed due to financial strain. Additionally, the chapter addresses the widening income inequality gap, skewed debt to income ratios, and the impending retirement crisis facing many Americans.
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