So the boss has to raise HIS pay a couple of bucks, watch him go somewhere else, or raise him to min wage and do without the new guy.
...absolutely! This all boils down to one simple thing. We will all pay extra for everything! Businesess will survive! They survived the $5.15 wage increase.
Because that pretty much brought it up to the market rate. The market minimum wage has not changed significantly since then. The market minimum wage right now is probably between $5.50 and $6.00 per hour. If it is raised to $7.25 you WILL see inflation and unemployement increases as a result.