> 1) the minimum wage doesn't get increased with inflation
Sure it does. It's pretty much unchanged since 1980 (in a sawtooth, they build up some pressure due to inflation and then it jumps up due to legislation).
1960-1980 looks to average around 20% higher.
It's funny how these charts differ.
https://www.pewresearch.org/fact-tank/2017/01/04/5-facts-abo...
https://image.cnbcfm.com/api/v1/image/103807392-min-wage-inf...
A strong argument can be made that minimum wage should track GDP, not inflation.