I don’t follow your logic; $7.50 per hour already can’t compete with overseas workers earning $7.50 per day, and $15 per hour will just cost more jobs (creating more people earning $0 per hour). Artificially raising it to $15 per hour still won’t put those people in houses or let them start families (unless they want to live in undesirable areas), so what is the benefit? In a consumer-driven service economy, what business does well without good jobs?
I’m shocked at how many young people see not just families and homes as far beyond their reach, but CARS (which had been a significant part of the economy for decades).