Scale text area
When scaling text boxes, the text box scales but the text inside remains the same size. This can be handy for scaling at the same size, but very inconvenient when you need smaller paragraph text and have to reformat manually. Holding Command-⌘ (or CTRL on Windows) while you scale down a text box should allow you to reduce the size of the textbox and its contents.
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LeeHutch commented
If you make sure the text boxes are Point Text boxes and hold shift the content scales