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And it would be useful to assume that all employment losses occurred to young persons from more affluent families. This however, is not the case. According to the Economic Policy Institute , poor women—disproportionately represented in low income households-are most likely to be helped by a minimum wage increase. However, because it takes almost $17,000 to lift a family of four out of poverty, the amount of the minimum wage increase is likely to be insufficient to eradicate poverty by itself.
Let us explore two different pointes of view that were discussed by New York Times magazine in 2005 and 2007...
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