The macro economic situation doesn't seem to be addressed here, ie that many millions of dollars will go to the lowest earners and biggest spenders. Whatever THEY spend money on will see more revenues.
This logic is nonsense. Minimum wages are not a 'tax on the rich'. They simply inflate the cost of employing people and encourage businesses to cut staff and benefits in order to maintain profitability. IOW - it is naive to assume that hikes in minimum wages will actually result in more aggregate income.
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