Personally, I don’t believe that raising the minimum wage will ever fix things. Capitalism requires a poverty class in order to function, and if we lift everyone out of poverty, the system will break down and reset itself to ensure that one exists.
The minimum livable wage in the US ranges between $19 to $30 an hour on average in each of the 50 states. The federal minimum wage is still $7.25. $15 an hour is STILL not livable. The minimum wage MUST go up dramatically, it’s out of touch with reality.
Your right it wouldn’t do anything because while they don’t need to raise the price of things because they’ve been doing that without the pay, they would continue to raise the prices