<i>less people are employed at a higher price of labor and that those priced out of the market are likely to be the ones hurt the most by it</i><p>I don&#x27;t see how that follows. Imagine the minimum wage were doubled, do you think McDonald&#x27;s would respond by laying off half their staff? What do you think that would do to their business?<p>Companies hire people because they need the work done, not because they have $X allocated to payroll and it&#x27;s burning a hole in their pocket. If minimum wage goes up then payroll costs will go up, forcing them to either cut profits or find cost savings elsewhere.