With the inflation caused by the existing monetary police and deficit spending, the minimum wage no longer represent the true wage people should get at a minimum for work. I proposed to increase it to $10-$15 per hour which equate to about $20000 -$31000 per year full time which in todays standard are close to the poverty line. And any subsequent adjustment will be based on any wage increase % that congress get.
This would have positive impact to the whole economy. The increase expense for business argument and thus hurt company’s profits are not really valid. This can be proven with a bias less study and analysis.