There isn't much of a practical difference between 1MM and 10MM or 10MM and 100MM. Or even 10K and 100K. It's not that there isn't any difference, it's just that (ignoring extreme scenarios like having to pay medical bills in the US) the difference is mostly a luxury.
But below a certain threshold, it's not a matter of luxury. It's a matter of being able to afford the bare necessities.
I don't make 100K/month. Right now I don't even make 10K/month. To be honest, I'd probably be able to cope (as I have had to in the past) with as little as 1K/month or less. But I don't mind if some investment banker or Fortune 500 CEO makes several orders of magnitude than me.
The problem isn't just that someone who works two full-time jobs can barely afford the absolute minimum of necessities. The problem is that making money is a requirement to have access to these essentials. We don't need more jobs, we need better social care. We don't need to cut rich people's wages, we need to eliminate poor people's reliance on wages to keep them housed, fed, warm, healthy and content (or "maintained" if that sounds less socialist and more business-y).
Minimum wage is a red herring. Minimum wages are (and should be) dictated by economical concerns alone. It's impossible to regulate them. You can dictate numbers, but that doesn't solve the problem they're meant to address.
Minimum wage jobs are not only useless because they can't pay for a living. They're also useless because they generally don't offer any opportunity for personal advancement. If you mop floors at McDonald's for a living, you're likely not going to turn that into a career. If anything, it's a stop-gap, but any effect it will have on your future occupations will likely have nothing to do with the actual tasks you performed (except maybe for a marketing sob-story if you make it big).
So separate the two concerns: give people what they need whether they have a job or not, and pay them whatever is economically sensible for any job they take.
Basic income and/or strong social services are a better solution than always trying to regulate businesses into supplying sufficient wages against market demands. If anything, the latter just encourages businesses to eliminate those minimum wage jobs entirely to reduce unnecessary costs.
You can't compete with technological progress. If you artificially inflate wages, that just makes the humans even less appealing.