When does a minimum wage become too high?
“There are many ways to fight poverty and inequality, like taxing the rich and giving to the poor. Research finds a minimum wage is one tool that can help, but where to set it optimally is an empirical question. The number 15 is nice and round — but why not $14.85? Heck, why not $50 an hour? If we want a minimum wage that maximizes the wages of low-income workers while minimizing potential job losses, we need evidence.”