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February 15, 2013

Higher minimum wage: Does it help, or hurt?

  • Obama's plan would raise the hourly minimum to $9 by 2015 and increase minimum wages for tipped workers.
    • By SAM HANANEL
    Associated Press

    WASHINGTON — President Barack Obama says raising the minimum wage to $9 an hour and tying future increases to inflation will boost the incomes of millions living in poverty and spur job growth by pouring more money into the economy. But business groups are not so sure.

    They complain that increasing the federal rate from $7.25 an hour would discourage employers from hiring new workers, hurting the very people Obama aims to help.


     
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