What will people's reactions be when you double the price of their food or gasoline?
I'd wager one of the reasons why America's economy does so well compared to Europe's is the much cheaper access to energy. For example, Lithuania pays twice the price for gasoline and almost 3 times the price for electricity, meanwhile income in Lithuania is less than half of US incomes.
People take a good economy for granted and are willing to trade it for many things. But then when the trade actually happens they will blame everyone else for the misery that results from it (eg "living wage" people).