Don't you agree that if you arbitrarily increase wages for a significant segment of the population, that segment will now want more of the goods and services they could not previously afford? Increased demand will drive up prices for those goods and services unless supply increases at the same time. If prices do go up, those with more bargaining power will seek higher returns for their labor. The net effect will be that almost everyone will see their income rise to some extent, but the supply of goods and services they are chasing is going to remain essentially the same. So almost all of us will be paying more for the same stuff. The only way that won't happen is if supply could magically increase at no extra cost – but that can't happen because we've raised the wages of all the people that supply those goods and services.