The left doesn't understand the fundamental economic meaning of "value." They don't understand that value symbolizes the relative scarcity of something in relation to the demand for that thing. The dollars or pesos are simply units to measure value as inches are used to measure length. An hour's worth of flipping burgers has a value that is fixed by the market. If the government steps in and declares that value to be $15, then the market will adjust values of other things to match the previous relationship. If rent was 50% of their pay before, it will shortly rise to 50% of their pay after.
It's no different than if you declared the distance from Los Angeles to Las Vegas to be 1 foot - all the other distances would likewise change and the relative difference would not be impacted at all. It would still be twice as far to Las Vegas as it is to Indio. There's nothing the government can do about it.
Buy Bitcoin.
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