I don't think minimum wage increases work. There are some unintended consequences. Let's say you pay people $15/hour to flip burgers. They have a higher wage but companies generally pass this cost increase on to consumers. All companies that raised these prices tend to be the ones that the poor people shop at. In the end you don't get the increase in buying power that you might think just by raising wages.
Additionally, what about the EMT that went to school for 2 years and makes $36K ($18/hour)? You have now totally destroyed the value of their education investment and made this job undesirable. Over time, people won't choose this job without wage increases. This may not happen instantly but eventually this ripples higher and higher. As it does so, the wage increase cause higher prices. Eventually at equilibrium it doesn't seem likely to me that anyone's buying power is really improved.
I still think the only solution is to tax the "rich" more and move to almost no taxes for those that are poorer. There is no reason at all to tax someone who is making minimum wage. Given the wage gap, the tax doesn't even need to increase very much to do this.
Additionally, what about the EMT that went to school for 2 years and makes $36K ($18/hour)? You have now totally destroyed the value of their education investment and made this job undesirable. Over time, people won't choose this job without wage increases. This may not happen instantly but eventually this ripples higher and higher. As it does so, the wage increase cause higher prices. Eventually at equilibrium it doesn't seem likely to me that anyone's buying power is really improved.
I still think the only solution is to tax the "rich" more and move to almost no taxes for those that are poorer. There is no reason at all to tax someone who is making minimum wage. Given the wage gap, the tax doesn't even need to increase very much to do this.