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Obama: No 'Solid Evidence' Higher Minimum Wage Costs Jobs

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AP Photo / Susan Walsh

The President also dismissed the argument that raising the minimum wage would cause companies to pass those costs on to consumers. Many American companies, he said, still deliver great product while providing their workers a decent wage.

"There are companies out there that do right by their workers," he said. "They recognize that paying a decent wage actually helps their bottom line, reduces turnover. It means workers have more money to spend, to save, maybe eventually start a business of their own."

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