And this leads me to a very important distinction.

There are two main consequences to a proposed minimum wage hike

1)unemployment
2)Price increases

The latter is heavily favorable to the former and here's why. The burden of the unemployment element is felt solely by the lower class...namely the people that the policy is supposed to benefit. The burden of price increases is shared across the income spectrum. EVERYONE pays the higher prices so the the lower classes are only burdened with the costs of higher prices in proportion to how much they buy which is obviously not a very big slice of the pie.

So any decision about minimum wage hikes to benefit the poor usually revolve around how much of the impact will manifest as unemployment and how much of the impact will manifest as price increases. The more heavily this balance falls towards price increases...the better off the poor will be (generally speaking).

So the analysis I've read about the $15 seems to suggest that currently, the minimum wage hike will result in relatively more price increases than it will in unemployment. That's why I support it.