I'm just curious, what would happen to employers who suddenly found themselves having to pay double for employees? if they are a business that sells a product or service, would they increase their prices to compensate? wouldn't that just mean the price of everything goes up and we're just back where we started?
of course I don't mean this would happen overnight, a change that drastic to the minimum wage would likely be rolled out over years, but still. we all know that CEOs are going to make their millions one way or another, by firing employees or only hiring part timers, or increasing costs of services, cutting more costs elsewhere (or outsourcing wherever possible).
maybe I'm just pessimistic, but I could see a bunch of negative side-effects of this. I'm hoping someone can show me how I'm wrong and that the positives would outweigh my perceived downsides.