"A rising tide lifts all boats"

A rising minimum wage lifts all production costs.

It's put a shit load of people out of work and closed a lot of small businesses.

It's literally works on behalf of very large corporations, because they can afford initial mechanisation costs to lower employee numbers, or they can move jobs abroad.

Small businesses go tits up, because their profit margins are razor thin and they have no capital to invest in labour saving devices.

I remember a guy who worked for a company that looked at ways to automate labour. Said they cheered every time a minimum wage increase happened.