I’m against a minimum wage, but to avoid it being a constant political issue, why not just base it on some market percentage that fluctuates with the economy and let it adjust itself?
I have always thought that the minimum wage should be $1/hr to link currency to labor. This wouldn’t work for economists who believe that we need to have a steady rate of inflation to encourage investment, but I believe the prominence of the stock market and retirement investment practices has already established economic habits that won’t be affected by a 2-4% inflation rate disappearing.