I really hate the fact that we live in a world where people object to raising the $7.50 minimum wage while a single man is worth more than $200 billion.
Well that is something we agree on. Minimum wage should be livable and pegged to inflation, and the reason its not is because the rich have too much power.
Pegging minimum wage to inflation would cause a feed back loop. I think it should be set to average rental prices in the city the job is in. 40 hours of after tax minimum wage wages should be 1 month's rent for a one bedroom apartment.