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Focusing on inflation-adjusted minimum wage is misguided

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Under fire for the botched rollout of President Obama’s health care law, Democrats have vowed to step up the push for increasing the minimum wage. Politically, it’s easy to see the attraction of the idea, as it’s a long-favored Democratic policy that will help mobilize the party’s base in an election year, and the concept also has broad populist appeal. But the arguments being made in favor of...

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