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Reply to "Help me understand the impact of a $15 minimum wage? "
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[quote=Anonymous]The main problem that I have with this is that the $15 number isn't based upon inflation relative to the old minimum wage or anything like that. It's a made-up number. And, yes, the result will be greater investment in automation (for example, in fast-food restaurants), some businesses closing or reducing hours, and higher expenses for unemployment and welfare programs. I would actually be OK with indexing the old minimum wage to inflation, but that is not what this does. The other issue is that prices vary widely from one part of the US to another. An appropriate minimum wage in NYC would not be an appropriate minimum wage in Podunkville, Arkansas. [/quote]
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