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Bachmann Says Eliminating Minimum Wage May Spur Growth

Representative Michele Bachmann, a Minnesota Republican planning to seek the party’s presidential nomination, said she would stoke U.S. economic growth by cutting taxes on corporate income and capital gains and considering elimination of the minimum wage.

Corporate tax rates should be significantly reduced from a maximum 35 percent and capital gains taxes should be eliminated, Bachmann said in an interview on CBS’s “Face the Nation” today. Congress should also reevaluate the federal minimum wage of $7.25 per hour, she said.