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Wage hike would hurt business
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The fight over the minimum wage, which President Obama and Democrats hope to make a centerpiece of this year's midterm elections, comes down to two simple arguments. Obama says low-income working Americans deserve a raise, while Republicans say raising the minimum wage would cost jobs.It was a mostly theoretical argument until Feb. 12, when Obama signed an executive order raising the minimum wage for employees of federal contractors to $10.10 an hour from $7.25. Obama's order does not take effect until Jan. 1, 2015.

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