One of the hot issues in this year’s political races is whether the Federal minimum wage should be increased. It might seem obvious that if lower-income people had more money to spend it would be good for almost everyone. President Obama and the Democrats have proposed that it be raised from its current $7.25 an hour to $10.10. Certainly, it would benefit the 17 million workers who’d get the increase—two-thirds of them women, who generally make less than men to start with. So raising the minimum wage would be a step toward pay equity. Some states have higher minimums, but none above the proposed level. Two states, Maryland and Connecticut have moved theirs up to the $10.10 level.
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