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Raising Minimum Wage

Let's discuss a recent proposal made by Obama to raise minimum wage from $7.25 an hour to $9 by the end of 2015. Though it still seems far off, it's likely to happen as this proposal is profoundly supported by America's over 6 million small-scale employers. In the past, lobbyists who represent small businesses have always turned down the idea of a increase in the federal minimum wage saying they would be forced to then fire employees.
However, there are many people stirred up about income inequality getting vaster and with the contemporary economic crises they also desperately want help. When one considers inflation as well, the minimum wage of today is worse than the base wage from the late 60s. It doesn't make sense that today's business owners can't pay more than what they did four decades ago!