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Obviously they will will be driven from the state in poverty and bankruptcy.
Business has two primary drivers that completely contradict each other.
On one hand, they want the cheapest labor possible.
On the other hand, they want customers to have loads of disposable income.
Since labor= customer= labor, they have to accept that paying more means getting more. And because it's the STATE doing it, it means it applies to all economic actors equally.
Suck it up and enjoy the revenue increases.
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