A $9 minimum wage does not equal the $1.45 an hour minimum wage of the 1970’s. 1 hours wage in 1973 could buy 4 gallons of gas, 44 hours bought a new car, 69 hours would pay for a nice apartment. (I know this due to the fact that I was working and living in 1973 and that was my budget). A $9 dollar wage will not buy nearly as much today.
This disparity of income creates an imbalanced economy and an imbalanced federal budget. Employees are also customers. To help business grow, employees must be paid what they are worth. To raise the minimum wage to $9 per hour will provide business with many more customers.
One small business, maybe 3 employees all minimum wage, paid those 3 employees an additional $62 dollars a week (the difference between $7.45 and $9 for 40 hours) will not alone increase this one businesses profits. Every minimum wage employee receiving this wage will increase this one businesses customer base and profits.