Here's another factor that hasn't been touched on, the cost of business to do business. Okay, you've increased the MW, and then... those who make just above MW demand their increases, and so on... all of that is factored and accounted and increases the price of goods and services to consumers, but also to businesses. Not only are they paying the extra money for the wage increase, but everything they purchase to produce whatever it is they do, has also increased in price. And all of THIS extra money HAS to come from someplace. Again... no magic money tree... it will have to come from the consumer in the form of even higher prices. Then... We have the old people and poor, who live on a fixed income amount... what to do there? Everything has had to increase in price to offset the increase in the MW... so they too, will have to get some kind of increase, or they will suffer even more. At some point, perhaps a new tax will have to be passed, because money has to come from someplace, we don't have a magic money tree.
There are only a few options for where the extra money can come from. Most notably, is the actual cost of products, good, and services. That is where the bulk of the money will come from, consumers. As I stated earlier, another option, is the elimination of jobs. Some businesses might be in such a competitive market, they simply CAN'T raise their prices enough to compensate, so they choose to eliminate some jobs. This means, we are working harder to do the same amount of work, for more money that buys less. The only OTHER option, is known as 'quantitative easing' and that's where the Fed just starts printing up worthless currency... now THAT can be what Liberals are thinking is the 'magic money tree' here, and how they rationalize all of this as being of benefit to us. If that is the case, you can take my experiment from earlier, with the 10 $1 bills, and start adding fake monopoly money... If you ever have actual value more than $10, you've accomplished your goal! What you do is, devalue the dollar. Which means.... the dollar will buy less and less, and then... less and even less. Until finally, you are carrying a wheelbarrow of cash to the store to buy a few basic food items.
NONE of the options sound like we are "helping" society. They ALL sound as if we are doing something detrimental to our economy, and ultimately detrimental to society, and we are doing so for no other reason than to be political and petty, and act like little children who don't understand there are not magic money trees.