when is raising the minimum wage bad
Obama and his advisors seem to believe that if the minimum wage were raised and then indexed, all workers would retain their jobs. But this is not the case. Between 2007 and 2009, the federal hourly minimum wage rose to $7.25 in three steps from the $5.15 rate that had prevailed for a decade.If the wage were raised to $9 and then indexed for inflation, it would rise every year.ut this is not the case. Between 2007 and 2009, the federal hourly minimum wage rose to $7.25 in three steps from the $5.15 rate that had prevailed for a decade. If the wage were raised to $9 and then indexed for inflation, it would rise every year.