The problem with the idea of a minimum wage of $15 / hr is that the employees do not provide that much value to the employer to be worth that money.
The value of anything is what a willing buyer will pay, and a willing seller will accept. This applies to products and labor.
Let’s assume you live in a home with a large lawn. Let’s also assume that you do not enjoy mowing the lawn, but rather consider it a chore that needs to be done.
If someone offers to mow your lawn for $10 a week, would you hire them? Most people would say yes because the cost is less than the value of the freedom from the chore. If the same person offers to do the job for $25 a week, would you still hire them? How about if the cost was $50 a week? $100 a week?
There is a point where you are going to say that it is not worth the cost, and will do the job yourself.
Business owners consider the cost of the employee vs. the value they provide the company when they decide to hire or lay off employees. If they are required to pay $15 an hour they will decide that a low skilled employee is not worth the money. Remember that the $15/ does not include the other costs the employer has, including the employer part of Social Security (3% of pay), mandated health insurance or fines (depending on the size of the business) Unemployment taxes and other costs.
Raising the minimum wage means that the cost of hiring someone is increased. The value the person provides the company does not increase, so they the cost often will exceed the value. A good business will not pay more that the value provided, just as you will not pay more for a product or service than it is worth to you.
If fast food jobs are paying $15 an hour, expect more automation (order at computer screen and the like) and also expect the prices a business has to charge to increase
38 years in business