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Costco CEO: Raising Minimum Wage Is A Good Thing

I get so tired of the naysayers about the raise in the federal minimum wage causing unemployment, when studies show the opposite is true. So then, it

I get so tired of the naysayers about the raise in the federal minimum wage causing unemployment, when studies show the opposite is true. So then, it is a nice thing to see a CEO backing up that info too.

AFL-CIO:

Opponents of a clean bill to the raise the minimum wage-which is at its lowest buying power in more than 50 years-claim that without a multibillion dollar tax break lifeline, the nation's business community faces economic disaster. We are not the only ones who say that is balderdash.

Jim Sinegal, who founded the discount chain Costco Wholesale Corp., told The Washington Post yesterday that it makes good economic sense to raise the minimum wage.

The more people make, they better lives they're going to have and the better consumers they're going to be. It's going to provide better jobs and better wages.

Sinegal is part of a group of business leaders we told you about last week who say it's time to raise the minimum wage-Business Owners and Executives for a Higher Minimum Wage. Chuck Collins, a senior economist for the Institute for Policy Studies, has more on the business group Tompaine.com.

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