How Minimum Wage Freezes Widen the Wealth Gap

Episode 43 of Inequality Conversations with Fexingo examines how state-level minimum wage freezes disproportionately affect low-income workers, deepening the wealth gap. Lucas and Luna explore the case of Pennsylvania, which has kept its minimum wage at the federal $7.25 since 2009, while neighboring states like New York and New Jersey have raised theirs. They discuss how a frozen minimum wage acts as a wealth drain, costing a full-time worker over $10,000 a year in lost earnings compared to a $15 wage, and how this compounds over a career through reduced savings, investment, and homeownership. The episode also touches on the racial and gender dimensions, with women and people of color overrepresented among minimum wage earners. Tune in for a focused look at how a seemingly static policy quietly widens inequality. #MinimumWage #WealthGap #IncomeInequality #Pennsylvania #FederalMinimumWage #FrozenWage #EconomicJustice #LowWageWorkers #RacialWealthGap #GenderPayGap #StateMinimumWage #LivingWage #WealthDrain #CostOfLiving #LaborMarket #Economics #FexingoBusiness #BusinessPodcast Keep every episode free: buymeacoffee.com/fexingo