So a couple of problems. First, you claim that raising the minimum wage will restore bargaining power to workers.
Much of the argument supporting minimum wage is its ability to lift workers out of poverty, and it also has the potential to influence the relative bargaining power between non-union workers and firms which was one of minimum wage's main purposes. Do you imagine workers had more bargaining power before 1938?
The only way to really get out of poverty, is to move up the income ladder.
You won't do that living on the minimum wage. No matter what.
I'm not sure why this is a hard concept. If you raise the minimum wage, prices will adjust. They always do. Every time you increase the minimum wage, price go up.
Why do you think in 2006 they are clamoring from a $7 minimum wage.... and then instantly when they go that $7.25 minimum wage, they clamoring for a $15 minimum wage?
Going from $5.25 to $7.25 was a huge increase. Yet as soon as they got it, they demand an even larger increase. Shouldn't all of those people now with much bigger paychecks have been ecstatic for it, instead of immediately starting "Fight for $15"?
Why didn't that work? Because prices increased with the minimum wage.
If you go back and look at Fast Food menus from 2006 and before, and then look at them in 2011... the "value meals" went from being about $5, to being about $8.
Years ago, there was a website that had menus from before, and after the minimum wage hike, showing the price changes. I don't know where that site went now.
Prices go up. Why do prices go up? Two reason, both connected to the minimum wage. A: The cost of labor is usually the most expensive part of running a business. That cost must be passed onto the consumer. B: When everyone has more money, demand goes up.
You know how supply and demand works. If supply stays the same, and demand goes up, prices goes up.
So it doesn't lift anyone out of poverty, and never has. Never will either.
What lifts people out of poverty, is them moving up the income ladder. Not government mandating it, but you yourself, moving your butt up the ladder.
Find something more valuable to do. Get a skill. Learn a craft. Get a degree. Open your own business. Or even move up the corporate ladder where you are. I know a guy that started off making $8/hour as a auto parts cashier, and now runs a store, and makes $60K a year or more (depending on the store profit bonus).
Do you imagine workers had more bargaining power before 1938?
That's impossible to tell, because there are different labor markets.
For example, I know engineers that have literally dictated terms to their employer. Honestly, one guy said he wanted to be able to remote work from home, and have a month off a year, because his wife's family was in another country, and the company gave him everything he wanted.
But if you are talking about low-skill or no-skill markets, no, they ave much less bargaining power, and they never will.... because we have a surplus of people in that market.
Companies don't need to negotiate with a Union, because they can and will replace every single one of you, or simply shut down the entire plant, and reopen it elsewhere. Hostess, MG Metals, the former GM plants, many examples.
No amount of laws is going to change that. There are simply too many people who have low/no skills.
But if you are high skilled, you have more bargaining power today, than ever before in US history. If you are a quality tradesman, you are in demand. You can set your schedule, and determine your own prices, and all kinds of things.
Now this is all generalities... because obviously if you are high skilled, but you are arrogant, or a jerk, or you don't do a good job, then yeah you'll still have crappy treatment.
But high skilled, high quality, hard working employees... are in such high demand, that yeah if you are really good, the power is in your court for sure.