"Trickle-up Economics"

http://www.economist.com/news/united-states/21571894-president-proposes-hefty-increase-minimum-wage-trickle-up-economics

In this article in the economist details the current agenda of president Obama and his plan to increase the minimum wage.  The whole idea behind Obama's plan to increase the minimum wage is that first off it will bring us closer to income equality.  Also it will help bolster the current US economy by reducing the poverty level and increase the spending power of the poorest workers.  While it comes with great criticism by big business and Republicans to whom are saying that it would cost low skilled workers vital jobs.  This increase in minimum from $7.25 to $9.00 by 2015.  As opposed to traditional views that raising minimum wage will increase the number of the unemployed in recent studies the idea of raising minimum wage has secured those who have jobs due to costly turnovers and lay offs.  Not only does it show that it helps some keep their jobs it also the increase in minimum wage would give people to spend or consume more of what they earn for example the EPI last year claimed a minimum wage of $9.80 and said to have created 100,000 jobs.  The article also touched on the fact that this was not Obama's only move to boost the economy that with the purposed jobs lost to this increase he was talking about such as increasing infrastructure to early childhood education.