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Q&A on Obamas wage plan
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WASHINGTON (AP) — Relatively few Americans — less than 5 percent of hourly workers — toil for the minimum wage today.Yet President Barack Obama’s push to offset years of inflation by raising the minimum wage to $10.10 an hour would ripple through the economy and touch the lives of millions more workers and their families.Here are some questions and answers about Obama’s proposal:Q: How much is the U.S. minimum wage now?A: It’s $7.25 an hour, or about $15,000 per year for full-time work. For a worker supporting a family of two, that falls just below the federal poverty line.A minimum wage of $10.10 would mean earning about $21,000 per year.Q: How many Americans work for minimum wage?A: About 1.6 million, according to the U.S. Bureau of Labor Statistics. They are a smaller share of the workforce than in previous decades.Another 2 million people are paid even less, because of various exceptions in the law.