Raising the minimum wage historically has done absolutely nothing to help the poor or raise people out of poverty.
How do you figure that?
Well... because it eliminate jobs. Always has. And it drives up prices.
When I was working at Wendy's, and the minimum wage went up, the first thing they did, was eliminate 3 employees. That was the first week.
Then, after that, they started raising their prices. They did this by cutting portion sizes. The large fry got smaller. The medium got smaller. The small got smaller. Then they introduced the "Biggie" fry, and "Biggie" drink, with new higher price.
Then over time, they shrunk the "biggie" down to the size of the original large, and the large to the size of the original medium, and the medium to the small, and the small was eventually eliminated. Then after a few years, they just renamed them all... small medium and large.
Burger had the same thing happen. They reduced the size of the burger, and then came out with "The Dave Classic" if anyone remembers those. That lasted a few years, then they eliminated the regular smaller burger, and it was Classic Single, Classic Double, and so on, with the new higher price.
And ALL companies do this. They all pass on the cost of higher minimum wages, on to the consumers. Prices go up.
This guy here, did a neat little comparison.
Mouse Print 8211 Sneaky Fine Print Blog Archive When the Chips are Down sized 8230
That's one of dozens on his page.
Same prices, smaller weight.
That shrinking feeling 10 downsized products - Money - TODAY.com
Consumer reports, showed a bunch of different products from different companies, which cut their product size.
They all do this. Every time you increase the minimum wage, that money has to come from somewhere. There is no magic money tree behind the company, where they can just shake up some cash to pay these higher wages. It has to be passed on to the consumer. You and me.
That's why no matter what minimum wage you put in place, it will never be enough. The cost of living increases right along with it.