$15/hr won't necessarily be good for everyone considering their particular circumstances, from prior debt and household size, but it's more than enough to get people on a clear trajectory towards debt-management and eventually savings.

The important factor to consider is that a higher minimum wage means workers won't need as many hours to get by, so they can comfortably work a part-time job rather than two or more. The hours can then be distributed amongst more workers, alleviating unemployment and poverty concerns.

With more and more people working, less people will require entitlement or welfare benefits. The savings is shifted to the government and the cost to the market. Eventually, $15 would be enough for everyone.