Yes and no

Should be a fair wage, but it’s not always a fair wage. In reality minimum wage will always lag behind inflation if you keep raising it to chase it.

Say minimum wage is $10

I work a job

Now, what is the company going to pay me?

$10

Fair wage is $12 for the job, but the business is only required to pay me $10.

In perfect economic conditions, I could go find another company that’s willing to pay me $12, but we all know someone struggling at the bottom can’t just simply switch jobs.

So the people that want to increase minimum wage want it to go to $12. To make it fair.

I’d say let them get $10, then tax the company and make sure the person gets $12, maybe even $14 if they need it.