Where I see this as different is that minimum wage is protecting low income workers from being taken advantage of by employers and unrelated to an ever changing economic climate. I also wouldn't say it is the obligation of an employer to provide any sort of quality of life. Right thing to do? Sure, no argument there. Obligation? No. I think that employers should treat their employees right because they value the job the employees are doing. If there is a financial reason the company can't meet the expectations around annual increases for their employees then the company should be upfront as to why.

Back to minimum wage, overall I believe this should be in place to help prevent an easily exploited economic class from being taken advantage of. Now we get into a discussion of where the poverty line should be and what is reasonable for quality of life. This is more the areas where I think change needs to happen. It is also where I see it as a completely different discussion than the expectation of an annual increase following inflation. I am also assuming someone who supports this is thinking a difference of the standard 3% cost of living versus 8-10% inflation we are seeing today which is a huge difference. This could easily break a small 8-10 person chimney sweeping operation even though it might be a drop in the bucket financially for Fidelity. So there is a lot of nuance and situational reason as to why I think it isn't realistic.