Originally Posted By: drakino
I don't see this as a point against the wage hike. 7% increase in margin is less then the percentage increase for the workers. Workers at the minimum level could absorb that 7% rise in living expenses and still come out with more leftover money to spend elsewhere.

You aren't including the other costs or the increase in taxes paid. Overall, the increase in amount spent won't keep up with the increase in amount coming in and people will be right back to where they are now. Except, the pool of folks in trouble will be larger, and the jobs will be fewer (even the CBO agrees with that).