Can someone answer my question about the minimum-wage hike?

[eniwetok]

30. nice theory

Nice theory... but it doesn't follow that you can just double the MW in 4-5 years without problems. Sure, rich urban areas can deal with it. But we're talking about the LOWEST even the most unskilled kid will have to be paid regardless of whether they live in that city or some rural backwater.

And there's a difference between people getting food stamps or some other net INFLOW into an economy... and the economy of some small town trying to self-sustain a MW that doubles.

Economies tend to find some equilibrium... maybe not always the most beneficial to all... but there's some stability. 25 states are now $8 or below for a MW and 19 states are at $7.25 . Obviously these MWs are criminally low. But to double the MW on every state for the LEAST skilled workers... will do what all those oil spikes in the did to the economy... only on the local/regional level.