Editing to reword this since a lot of people who've read this have an elementary school reading level or are intentionally misunderstanding the point repeatedly:

The minumum wage needs to be tied to a living wage. No company that can't pay their employees a living wage has a special divine right to exist. Increasing the minumum wage will hurt some people—mostly the rich, but this will absolutely hurt some poor people too. There's no economic policy that will have zero consequences for people at the bottom. We've seen in the past that exploitative companies go under when wages increase and I think that's actually a good thing & I'd love to see many employers and landlords lose their wealth. Our goal as a society shouldn't be to increase jobs and profits numbers, but to strive to increase the quality of living for everyone, especially those near the economic bottom.

H̶o̶t̶ t̶a̶k̶e̶, b̶u̶t̶ I̶ t̶h̶i̶n̶k̶ a̶ m̶a̶s̶s̶i̶v̶e̶ r̶e̶s̶e̶s̶s̶i̶o̶n̶ w̶o̶u̶l̶d̶ u̶l̶t̶i̶m̶a̶t̶e̶l̶y̶ b̶e̶ g̶o̶o̶d̶ f̶o̶r̶ t̶h̶e̶ a̶v̶e̶r̶a̶g̶e̶ p̶e̶r̶s̶o̶n̶ i̶n̶ t̶h̶e̶ l̶o̶n̶g̶ r̶u̶n̶—e̶s̶p̶e̶c̶i̶a̶l̶l̶y̶ c̶o̶u̶p̶l̶e̶d̶ w̶i̶t̶h̶ a̶ m̶i̶n̶u̶m̶u̶m̶ w̶a̶g̶e̶ i̶n̶c̶r̶e̶a̶s̶e̶. I̶'m̶ s̶o̶ t̶i̶r̶e̶d̶ o̶f̶ b̶u̶s̶i̶n̶e̶s̶s̶e̶s̶ a̶n̶d̶ p̶o̶l̶i̶t̶i̶c̶i̶a̶n̶s̶ b̶r̶a̶g̶g̶i̶n̶g̶ a̶b̶o̶u̶t̶ j̶o̶b̶ c̶r̶e̶a̶t̶i̶o̶n̶. A̶l̶m̶o̶s̶t̶ e̶v̶e̶r̶y̶o̶n̶e̶ I̶ k̶n̶o̶w̶ w̶o̶r̶k̶s̶ 5̶0̶+̶ h̶o̶u̶r̶s̶ a̶ w̶e̶e̶k̶ j̶u̶s̶t̶ t̶o̶ m̶a̶k̶e̶ i̶t̶ b̶y̶. W̶h̶a̶t̶ w̶e̶ n̶e̶e̶d̶ i̶s̶n̶'t̶ m̶o̶r̶e̶ j̶o̶b̶s̶, w̶e̶ n̶e̶e̶d̶ b̶u̶s̶i̶n̶e̶s̶s̶e̶s̶ t̶o̶ c̶l̶o̶s̶e̶ d̶o̶w̶n̶ i̶f̶ t̶h̶e̶ o̶n̶l̶y̶ w̶a̶y̶ t̶h̶e̶y̶ c̶a̶n̶ a̶f̶f̶o̶r̶d̶ t̶o̶ s̶t̶a̶y̶ o̶p̶e̶n̶ i̶s̶ s̶t̶a̶r̶v̶i̶n̶g̶ t̶h̶e̶i̶r̶ e̶m̶p̶l̶o̶y̶e̶e̶s̶.