Should Congress Rake the National Minimum Wage to $15 an Hour?

If Congress raised the minimum wage to $15 an hour and didn't change, it would basically put you out of business. Your sweatshirt is more expensive and so are sweatshirts imported from China. The average American family today spends about $1,600 on apparel and footwear per family. In 1980, in today's dollars, that represented about 80 items. Today it represents about 185 items. And we throw away about 80 pounds of clothing a year.