On the surface, it sounds reasonable to increase minimum wage. But, the trickle down effect is something that people are just not realizing. Giving people more money is NOT the answer, it just is not a good economical solution to the financial crisis we all face today.
Back when gas prices were over $4 per gallon, everything on the shelves from milk to salt increased in price due to the cost of transporting these items to be distributed around the country. Well, when gas prices went down, did any of the shelf prices decrease? That would be a big fat NO. The prices remained high, but no one's income went up to accommodate that price hike. An imbalance there.
This happens all of the time. Prices do not go down, they just go up every time the gas prices go up, even though the gas and oil prices fluctuate greatly.
Now, if the minimum wage went up, guess what will happen? All manufacturers prices will rise because their overhead will rise. It is a vicious cycle that is a never ending circle of price hikes. Just because the cost of living goes up, does not mean minimum wage should go up as that solves NOTHING. What has to happen is the prices of everything have to decrease.
My God Almighty, a car....something that lasts about ten years or so, cost as much as the house I bought in 1983. Yeah, a Subaru Outback costs about $35K these days. The price of things are so imbalanced that it is unbelievable. You can buy a $36K car and finance it for 5 years, but if you buy a $150K house, you have to finance it for 30 years. The whole financial system is designed to keep people in debt, then use that debt against them.
A minimum wage increase sounds great on paper, but what it does is it causes employers to hire inexperienced younger people without skills over the people who are experienced and have debts to pay. Further allowing the middle class folks to slip into a lower class. And, the rich get richer.