[gruez]

>Minimum wage has always trailed living wage

Hidden in this is an assumption is that everyone is more than more productive than the "living wage" (whatever that is). In a country that has high living costs and is facing competition from developing countries with far less living costs, I think it's fairly reasonable to say there's a non-negligible population where this assumption doesn't hold. What about those people? For them, raising the minimum wage to the living wage won't increase their income, it'd make it $0 because there's no point in hiring them.

>Yet more "privatize profits, socialize the costs".

You realize I explicitly mentioned "welfare/UBI" in my previous comment? Or do you somehow think it's bad for the government to forcibly transfer wealth by taxing people/companies and then distributing through welfare/UBI, but it's somehow okay for the government to forcibly transfer wealth by mandating that companies pay their workers more?