Can’t find my source anymore. I remember seeing something like ~30% of minimum wage earners have house hold income between $100-200k. But I don’t remember what the other distributions are. Since I can’t find my source anymore, I’m concede the point, unless I can find it again. Regardless of this point, I still stand by my main point, which is raising minimum wage to $13 or higher will only kick automation into high gear. If anything, this will create a job boom for people like me. Also, wage inflation usually follow by rent/housing inflation as well. So, definitely, bring it on.
Some more demographic data of minimum wage worker, the largest minimum wage workers are kids <25 years old, 31% are between 16-19, 53% works <29 hours, 38.9% works <14 hours, 36% doesn't even have a HS diploma, etc. http://www.bls.gov/cps/minwage2012tbls.htm#4
You should also ask yourself, what about all the other people who are making more than minimum wage but <$13? would they also start making more than $13? Would they also get a 60% raise as well? Then how about all the other workers? Wouldn't/shouldn't this trigger a massive wage inflation for everyone?
Just to be clear, I'm not against this at all. I stand to hopefully benefit from this, so I'm all for it. I'm just trying to point out what might be the side effect of it.
