Think about the lowest bid contract. How many of you have seen this:
Company A and Company B are bidding on a contract. Whoever comes in lowest will win it.
Company A goes over the project, calculates cost, builds in a reasonable profit, and submits the bid.
Company B comes in with a ridiculously low bid, far below Company A, so Company B wins the contract.
Fast forward six months and Company B is knee deep in the project. They go to the client and inform them that they've run into snags and cannot possibly deliver for the bid price. The client can't at this point scrap B and the project, so they authorize more money.
Another six months, Company B asks for more money. Now they're in so deep and so much money has been spent that the client has no choice but to pay the ransom.
By the time the project is finished, the cost has exceeded the original bid by more than double, perhaps even triple.
This is how politicians work. They lowball, get in, then jack up the price to whatever they want. The only reason any of them are raising the minimum wage is so stupid people who don't understand money and economics will re-elect them.