The minimum wage needs to be increased yearly because of inflation. Every year your wages purchasing power becomes less and less because the cost of living is already rising at a rapid rate due to inflation. The real problem in this country is to think of this countries wealth as a coin jar. Theres 100 people in the room that need access to the money in the coin jar to survive. 1 person walks up to the coin jar and takes 75% of the wealth out of the coin jar leaving only the remaining 99 people to fight over the 25% left in the jar. This is the major problem with our economy. Corporations that are generating huge profits, hoarding wealth, refusing to pay taxes. It creates these mega corporations that are so big, they are too big to fail which discourages small businesses and effectively creates a monopoly in a lot of sectors of our economy.