Why is it that these ‘increase minimum wage’ stories never point out the obvious?
The reason the current minimum wage doesn’t buy enough in the real world is that there are too many dollars chasing too few goods. The main reason for that is the huge increase in salaries for government workers. Instead of raising the minimum wage, cut government workers pay in half. It would not take long for the price of goods and services to fall and people making $7 an hour could afford things again.
Huge increase in salaries for government workers? Since when?