According to The Dept. of Labor, The Pew Reasearch Center and many others raising the minimum wage does NOT increase inflation in any meaningful way. You can ask Uncle Google. Unless, of course, Fox News is allowing how the cow ate the cabbage.

Consumers pay every cent of the employees wages. They're paid for with revenue, not profit. So however much wages increase, we'll all pay for those increases in the form of higher prices. When everything expands, nothing does. 

If you re-read what I wrote, you couldn't possibly come to the conclusion that I implied minimum wage contributes to inflation.  Nevertheless, competition for workers (in short supply) and the quantity of money in the system are what are going to contribute to it.  In fact, while what you said is true..that the minimum wage may or may not contribute to inflation, wage inflation caused by lack of workers and the workers future expectations of inflation are what create system-wide overheating.  I don't watch Fox, but whether you like Friedman or Keynes both sides have their uses politically.  I wouldn't dismiss one or the other outright.

All minimum wage levels do is either price out of the job market everyone whose skills are worth less than the minimum rate, or lead to price increases to pay for it all. If wage increases were funded by profits then I'm sure we could all feel smug in the knowledge that the greedy business owners were getting their just desserts, but that's not where wages come from. Anyway, Seattle lost a ton of jobs in the restaurant industry when they hiked up the minimum wage. 
 

sharke
All minimum wage levels do is either price out of the job market everyone whose skills are worth less than the minimum rate, or lead to price increases to pay for it all. If wage increases were funded by profits then I'm sure we could all feel smug in the knowledge that the greedy business owners were getting their just desserts, but that's not where wages come from. Anyway, Seattle lost a ton of jobs in the restaurant industry when they hiked up the minimum wage. 
 

+1. Well said, Sharke.

So you, like, don't want to, like, hire millennials?  Like, why is that?  Can they, like, be, like, that bad?

I graduated high school without the existence of Google OR Wikipedia!

dmbaer
So you, like, don't want to, like, hire millennials?  Like, why is that?  Can they, like, be, like, that bad?

Like OMG!

bayoubill
I graduated high school without the existence of Google OR Wikipedia!

Me too! Oh wait, I didn't graduate anything 

I'm a quasi-libertarian pseudo intellectual and a false prophet. At least I can teach music.