This is about helping the unions. Union wages are pegged in multiples of the minimum wage. Raise that and all union employees immediately get a raise. The unions collect more dues and the Democrats get more PAC money.
At my first job I was a union bagboy. I was already earning more than twice the minimum wage, which was $1.75, if I recall. I was making $4.35. I don’t recall what they raised it to, but everybody was really excited. That’s how I found out about the union/minimum wage link. My pay went to an astronomical $4.85.
I have the answer. On Jan 1 of each year, the minimum wage is raised 10%. The same day all prices are raised 10%! Bingo! Everyone is happy!