Federal Minimum Wage Hike Drives Up Pressure on Small Business - Video 7/24/09

Here is a video report about the Federal Minimum Wage Hike that took effect yesterday, July 24, 2009. The 70 cents per hour hike, now up to $7.25 per hour, is likely to result in more job losses and higher unemployment as small businesses struggle to survive.

The report talks to one small business owner, and to an advocate for low-wage earners who is just clueless about economics. She actually thinks the hike will stimulate the economy because workers will go out and spend that extra 70 cents an hour. Problem is - they can't spend it if they don't have a job!