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The Importance of Increasing the Minimum Wage
The fight for an increased minimum wage has gained steam over the last year, with many cities adopting a $15/hour minimum wage, and some states such as New Jersey, considering a statewide higher wage. While the federal minimum wage remains at $7.25, the Obama administration has pushed for legislation increasing the wage, and the Democratic Party has now included passage of a $15 minimum wage as part of its platform. Raising the minimum wage has several benefits. First, on obvious benefit is that those lower wage earners would increase their…