Enjoy your $0 minimum wage after being laid off. And for anyone that has a higher salary? You risk losing benefits and salary, or decrease the chance of a raise, because the minimum wage employers have to pay those at the bottom will be compensated for somehow. And this doesn't even touch the negative macroeconomic feedbacks it will cause. Any investments you make risk losing value as higher lower minimum wages dampen economic growth. The argument that increasing the minimum wage will compensate for lower revenues is a fallacy; regional economic inequality will drastically increase as small businesses outside of metropolitan areas will suffer, creating higher government spending on welfare for the unemployed who will consume LESS because they're out of a job. And those whose wages and investments shrink because the minimum wage is higher? Their consumption will be less too. Even ignoring these factors, if $7 an hour isn't a living wage, how will it's increase significantly drive consumption if it's supposedly the minimum you can even live off of? The truth is, a minimum living wage is what a business would pay you if we had NO minimum wage whatsoever—it would be the minimum amount they need to pay you too keep you alive and able to do a menial job.You know why Trump won the election? Because when you overstep your labor rights, big businesses will replace you and small ones will foreclose. Let municipalities and states decide what they want their minimum wage to be—we have a federal government for a reason!