I'd be all in favour of indexing minimum wage to cost of living or something. The problem is, that we need to get back to policies that make businesses compete for labour. Biden wants big increases in immigration, to increase the pool of labour. All that does is depress wages, for everyone. Labour needs to be turned from a huge supply, to more of a demand. You don't do that by flooding the market with low skilled labour. It's counter productive.
And how, pray tell, do you grow the economy to fuel these increased wages if not let people in?
The birth rate sure ain't doing it.