Earlier quoted context omitted.
The same threshold applies whether at the federal or state level in terms of the consequences. Push it too far at the federal level and you'll wipe out a row of cheap labor jobs, that will either be automated or off-shored; and those that can't be either will result in consumer price increases (which just burdens primarily the poor and middle class). If you want to incentivize with $20 / hour minimum wage, you'd have…
I disagree that you would have to mandate hiring. The local Walgreens needs 5 people to man the store. Do you think they'll just close up shop? Of course not. They'll have to pay more to their employees, and we (the customers) will have to pay an additional, say, 5%. As for the welfare reform: people route around obstacles. I think people have been able to game the current system too. "Disability" is one such option;…
Some stores on the margin will be driven bankrupt by the increased costs, and these stores will close up shop.