'Simplified' is believing that raising the minimum wage to $15/hour is a great solution to an increase in spending power (as opposed to a person learning a new skill and increasing their own value).
My view is complicated and nuanced and displays the unintended consequences of a raise in the minimum wage.
What do you think will happen when the costs of everything in a supply chain of a company is doubled? They will pass it onto the consumer.
When the majority of companies do this (which will definitely happen), everyone's spending power is decreased. The dollar doesn't go as far as it used to.
Realistically, it's hard to see how inflation isn't tied to a raise in minimum wage.