Thirteen Reasons Why it’s Time for a Raise – #1 Raising the federal minimum wage will boost the economy

The Economic Policy Institute estimates a federal minimum wage raise to $10.50 would raise the wages of over 30 million workers, stimulating the economy by $32.6 billion. Also, the Chicago Federal Reserve estimated in 2011 that for every dollar increase in the hourly pay for a minimum wage worker would result in $2,800 in new consumer spending.