A sneaky proposition

[Still Sensible]

1. Probably makes too much sense to be considered

but, as described it wouldn't necessarily effect the "rich" very much. On the other hand, if the top tax bracket is at 40%, you could simply increase the exemption by $100k for every dollar the minimum wage is raised. For example, assume the President's desire is passed that removes the tax break for people making over$250k (which means the first $250 gets taxed at at a lower rae and earnings over that amount are at the top tax rate). If you raise the minimum wage by $1, then the tax break could be on the first $350k, with the higher bracket then kicking in. This approach might have a chance to get more poltical support.