Republicans have seized on a study that predicts that increasing the
minimum wage would
eliminate
500,000 jobs but lift 900,000 workers out of poverty.
The minimum wage needs to be combined with a welfare system for
those who are unemployed. That way, all low-paid workers benefit,
whether they are still working or not.
To work out an example, suppose half a million jobs are eliminated,
and 50 million minimum-wage workers get a raise. If those workers pay
3% of their increase in income as tax, that would cover the
costs of supporting the other half-million, and all will be better off
than they are now.
This sort of system to transfer income from the rich (who have grabbed
an ever-increasing share) to the rest is exactly what we need.