Minimum Wage Raised - Teenagers Hardest Hit

Economic experts have warned for many years that increases in the minimum wage will cause the loss of some low wage jobs because small business owners can't absorb the extra costs. That's one big reason the Senate GOP would not allow the minimum wage increase to go forward without tax breaks for small business.

Here's proof that the higher minimum wage is hurting those it is designed to help (from Special Report):

You're Fired

The minimum wage increase that took effect in Arizona last month has brought with it some unintended consequences — many teenagers are losing their jobs. The Arizona Republic reports some employers say payroll budgets have risen so much since the minimum wage went from $5.15 per hour to $6.75 — they have had to cut jobs and hours.

The owner of one Phoenix pizza restaurant says his payroll has shot up 13 percent and he's had to lay off three teenagers and cut hours for others. Another shop owner said expenses rose by $2,000 a month.

A Federal Reserve study showed that for every ten percent increase in the minimum wage — there is a corresponding two to three percent decrease in employment.

Of course, in Dem world, this didn't happen.