[cowtown]

Supe, you're all mixed up on the elasticity concept.

Another point about minimum wage that I don't think has yet been made is that it's a horrible market distortion in the age of the global economy. Forget about fast foods and think about basic manufacturing jobs - like those filled by PCB assembly workers.

What's your cure for increased outsourcing when your $15 minimum wage results in even more low-skill jobs heading to China? What's your cure for the resultant unemployment? Sure, those who do hold jobs at your new wage level might spend more, but you've ignored job loss.

I suspect your answer, yet again, is government regulation; we need the government to keep those cold-hearted corporate execs from outsourcing jobs. right?

IMHO, your economics can be summed up with one word:implosion. It may be happening already with unionized labor and imported goods and workers comp costs. But you'd speed it up.