The case for $15 an hour and why it's not about the money

Calling for a hike to the federal minimum wage is nothing new, but right now there's a pretty significant amount of support behind establishing a benchmark of $15 an hour. It's a big jump from $7.25, the minimum wage since 2009. There's already a lot of people talking about the minimum wage and arguing whether we should or shouldn't bump it up -- so we wanted to sort of bypass the "should we or shouldn't we" of it all and talk about the issue from the math side. What do we know about what $15 an hour would mean for the economy? How would it affect small businesses? And what kind of tangible effect would this have on the individual household level? Dr. Nancy Fox, Associate Professor of Economics at Saint Joseph’s University joins KYW Newsradio in Depth to break down what a minimum wage raise to $15 an hour looks like to a market economist.