Under that scenario the country would be dead broke as people in low end jobs would leave the work force in droves. There would simply be no incentive to work at all in low paying jobs. Fast food would dry up as they would never be able to find people to work the jobs.


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Post response reading edit;

Who is going to work in the fields to pick those fruits and vegetables? Who is going to work in the chicken processing plants? The only way to get people into those jobs would be to drasticly raise wages and as a result, massive price inflation to compensate.