I mean the minimum in minimum wage is meant to be the absolute minimum wage necessary to balance cost of living.
If cost of living goes up then so should the minimum wage.
What I understand the least is how businesses need to pay for resources to make their products yet for some reason human workers aren’t considered resources and therefore aren’t treated as part of the cost of owning a business.
If you can’t make a profit while paying a living wage looks like you don’t get to own that business ¯\(ツ)/¯