http://www.economist.com/news/leade...higher-minimum-wages-dangerous-reckless-wager As evidenced from the last MW thread a few days ago, a lot of MW proponents argue quite strongly that raising the federal MW to $15/hour will be just fine. Most MW proponents in that thread refused to acknowledge the fact that MW hikes usually bring about layoffs but the few that did acknlowedge this fact argued that it was no big deal because the benefits of higher incomes far outweigh any costs associated with job losses from the MW hikes. Now as the article I reference points out, raising the federal MW to $15/hour, or 77%of median hourly income, is quite high and unprecedented even globally. The article also points out how by "moving towards sharply higher minimum wages, policymakers are accelerating into a fog" and "nobody knows what big rises will do, at any time horizon." While the latter is certainly true, I believe there does exist an example of what we could expect if MW proponents win this policy debate and the federal MW goes from $7.25/hour to $15/hour and that example is Puerto Rico. Puerto Rico has a far less productive economy than does mainland US yet since 1983 its MW was legislated to rise in tandem with mainland US MW. As a result, a full-time MW job in PR pays around 77% of PR's per capita income. If MW proponents have their way and the federal MW goes to $15/hour in mainland US, this will pay roughly around 65% of 2014 US annual per capita income. How has this policy worked out for PR? Well they've been in a recession for over a decade and...: ....... http://nypost.com/2015/07/11/how-us-wage-laws-helped-sink-puerto-ricos-economy/ Suffice it to say, be careful what you wish for because you might just get it and the results don't look good. ==================================== TL/DR version: Moving towards a federal MW of $15/hour is unprecedented and no one knows what the consequences might be. A similar policy was tried in Puerto Rico back in 1983 and the results so far have been horrible. Therefore, be careful what you wish for.