This is actually a tax hike on the poor
By raising the minimum wage to that amount many more people would pay income tax. However since the cost of goods woiuld simply inflate to cover the cost of the extra money in the system it would just mean that most people paid taxes.
It would also inflate away the value of the USD dollars held by governments out side the US
I was saying they should make it $100 an hour and everyone will be in the top tax bracket.
:p