Where is there conclusive evidence that raising wages will always result in layoffs? Why is it always assumed that a 15% increase in employee wages translates to a 15% reduction in profit? The only way that could be true is if 100% of the cost of a product is labor, AND every employee in the company receives a 15% increase! And, why is the other side of the equation ignored, namely, the consumer just received a boost in income. Which will be spent on perhaps other goods and services, like a vacation away. This will increase the income of the company offering the vacation. Which in turn will cause the vacation company to spend more. Which eventually leads to hiring since the demand for products has increased.
That entire statement is full of assumptions and misrepresentations. First of all, raising minimum wage likely doesn’t increase spending because of two reasons. The first of those being that the percentage of the population that actually makes minimum wage is so small (I’ve seen anywhere from 1% to 3% but we can assume 3% for your sake) that the “increased spending” will be infinitesimal compared to that of the rest of the working population making higher than minimum wage. Second of all, minimum wage doesn’t only cost people their jobs. It also has a positive correlation with inflation. As the minimum wage goes up, so do the prices of the goods and services of businesses. The coupling of the negative effects on the unemployment rate as well as the inflation rate compared with the positive effects, a very very small portion of people getting a pseudo raise, makes it a inefficient economic policy overall.