There's big talk recently about another minimum wage increase.
Blah, blah, blah....
Lotsa heat..... almost no light.
Foolish political games!
I have a market-based solution to low minimum wages:
Control our borders, arrest and deport illegal immigrants!
The laws of supply and demand cannot be repealed......
The pool of laborers willing to work for low wages and NO BENEFITS will quickly dry up. Employers will be forced to pay higher wages to attract workers to those jobs. (It's already happening in some agricultural states, harvesting some crops.)
As wages for people at the bottom rung of the ladder increase, wages will have to rise all the way up the ladder.
(And as an added benefit, overall health care costs and the crime rate will go down.)
Minimum wages increase!
But does it materially change anything?