People who earned greater levels of income were, on average, found to deal with much less memory loss and cognitive regression.
Some officials believe boosting the minimum wage would lead to better health outcomes for low-wage workers. However, minimum wage increases are regularly found to create job layoffs and higher market prices.
When employers cut jobs and increase their rates to offset the extra expenses created by a higher minimum wage, this defeats the purpose of the wage increase.
Hard times for Americans?
If inflation, prices, and interest rates continue to go up, a lot of Americans will become low-wage workers. Amid the current recession, economists predict inflation could persist until at least 2024.
Meanwhile, Congress is gearing up to pass the Inflation Reduction Act. Despite this bill’s name, it contains tax increases on workers earning more than $30,000. The Inflation Reduction Act likewise boosts government spending.
If this legislation passes, Americans will lose even more money to the federal government, further solidifying their fates as low-wage workers at risk of cognitive decline later in life.
