2. At certain income levels, wage increases yield higher tax rates which effectively mitigate the income raise.
3. Increasing minimum pay will cause inflation, thus prices also increase. The trick is to keep the price increase rate lower then the wage increase. With more service then manufacturing jobs, good luck with that one.
3A. Inflation may eat all the wage increase the minimum wage earner received, so how would they be better off?
4. Since we all know that union pay is a function of the minimum pay scale, well union pay raises. And who is the largest union employer? Government! Where does government get their revenue? So taxes, fees and other ways of extracting money from the public will increase .
5. Employers who cannot successfully increase their selling pries to cover the increased cost of labor will have two options. Layoffs or close. That will help the nation.
Seems like the public will be worse off after the minimum wage increase.
Problem is that middle class wages stay stagnant.
Fixed income remains stagnant.
The only jerks that win at this game are unions that have their wage TIED to the minimum wage.
The people at the bottom are in the same position and everyone else gets SCREWED.