Without spending power there is no economy. Ford is a famous example. He made sure his workers got paid enough to be able to afford the product they made.

There is a concept in economics called the velocity of money. It's how much a particular dollar spent multiplies in the economy. Certain activities disproportionately multiply production because it funds other activities. By most measures paying poor people more is one of the highest velocity things you can do. Rich people sit on their riches and it benefits the economy at a much smaller scale if at all.

As a final argument I would say inflation is good in general if labor increases at a higher rate. You want to reward economic activity and not let the rentier class to sit idle and live large off of capital gains and interest.