Minimum wages and tax reductions should all be indexed. Plenty of things are indexed to go up annually based, so why not the few things that really matter be it indexed down for taxes and up for minimum wages.
The interesting part of the equation is how allocation shifts with political parties. In the last few cycles its been best to load up on assets when Republicans have more control and then switch to more debt when Democrats get in power. Net effect is the same but the flipping makes it seem like change is happening