Re: “The level of economic ignorance in this country is astounding...”
I come from five generations of independent business owners.
I avidly support the $15 minimum wage.
Two reasons:
(1) It completely annihilates the political and business rationale for massive LEGAL immigration. We can’t import cheap, socialist voting laborers anymore because there is no cheap labor anymore, and, because they will keep voting themselves pay raises.
(2) It destroys the cheap labor business model. Independent business owners have three choices. Change their business plan. Or, invest in labor saving software and machines. Or, go bankrupt.
A high legal minimum wage is going to create more demand for under the table workers who will accept less.