Ouch. These automatic increases would have put minimum wage on an unsustainable course, much like baseline budgeting has done to federal spending. I'm sure the goal is to equalize wages (because why *should* a neurosurgeon earn more than a hamburger flipper?), but the only way the economy can survive such automatic increases is through massive inflation. And if government tries to halt the money presses to control inflation... well, that won't work either. Doesn't Zimbabwe still have tons of money?
-——I’m sure the goal is to equalize wages -——
I would argue that the rising tide raises all boats. The increases are to mandate the inflation necessary to devalue the debt.
They have a problem with the inflation they need. Wages are inelastic because of the vast number of unemployed. Prices rise but wages don’t. Raising the minimum is the method to raise all wages and salaries and thus the marginal increase in taxes.