Then what ends up happening is that you don't hurt the greedy person as much. What happens is the greedy person lays off workers and keeps a few for higher wages so he ends up paying about the same into worker salary except now we have unemployed just for the benefit of a few workers getting higher salary
I agree with heil79's previous statement. Companies will run themselves in a manner to preserve operations the way they are. I don't think our politicians understand the best way to incentivize things from corporations, I think they just push and push without knowing the reaction an entity designed to make money will undergo. It's not hard to predict what they will do when pushed against a wall really.
"What if everybody is doing the same thing, just for profit?"
Everybody can't be treating workers badly across the board because they lose profit in doing that. Its far more expensive to have to deal with workers jumping ship to work for a competitor everytime you drop the ball on something than it is to try and retrain more to fill their spots. And in the interim ... All your talent just went straight over to your competitor for employment. Its a huge strategic failure for them to totally abuse their workers.
Raising minimum wage on a company is like having someone from the outside of your company tell you to invest money prematurely into one sector of your business and pull funding from other projects to do it. It directly affects that companies strategic goals, product quality, survivability, and expansion. They have guys working around the clock to make budgets, bring in contracts, form retirement plans for the workers they have, and create general job security for the staff there, and having government mandate a huge increase is throwing a wrench in all of that. It will start hiring freezes and other pay/promotion increases until the company's internal revenue can catch back up.
Case in point about the nature of companies ...
Why do you think we continually have to re-increase that minimum wage. The first increases didn't solve the problem. The company is going to continue doing what its doing. Minimum wage is just a politicians way to get immediate recognition from voters. It is in no way a long term solution to the problem you think exists. Everything just freezes up a bit until the money flow can catch back up. Then youre all back where you started, making the same percentage of worth you are in the company.