Though I am a fiscal conservative, I don't see this as Armagedden. A jump from $7.25 to $10+ an hour seems pretty steep, but I don't see this putting anyone out of business. I do see prices adjusting though.
I also tend to agree that it potentially would reduce government assistance handed out to those living in poverty.
But then that begs the question... Won't the government then just re-set what line constitutes poverty?
Even if the Democrats are successful to get $10+ an hour minimum wage, I predict this will NOT help them much in the 2014 elections. Obamacare is just such a monsterous chaotic mess that it will not be possible to distract or white-wash it away. Nothing short of a war, or other global event, such as (well handled) multiple hurricanes, or multiple (well handled) terror attacks, will reduce Obamacare's smack down on the Democrat credibility before the end of 2014.
Edited by DieChecker, 30 December 2013 - 03:20 AM.