Yeah that's probably true. Corporations would exploit the workers to get even richer, but it's not because they have to raise prices you know.

Raising a minimum wage does contribute to inflation, but in our best years inflation goes up around 5% and in our worst years its slighter under 1%. If you doubled the minimum wage, the price of goods would probably go up but they wouldnt also double because only the very bottom class is getting paid more. So the idea should be to keep the very bottom with an amount of money that sustains them and no more. But you do actually have to keep raising it if you want to sustain its value.

If you have a minimum amount of money you think a person needs to survive, that amount goes up a percent or two every year.

I think keeping minimums even with the bottom of what we view for a standard of living, but then actually keeping those people with the same buying power as inflation occurs is a good thing. Will it speed up inflation? Yes. But you could then raise interest rates and inflation will level, something we could use with our 0% ass right now. Raising interest rates a sum amount to balance a doubled minimum wage could even see a stagnant inflation market if offset correctly. Some combination of interest rate and minimum wage changes could hit your target 1 or 2% inflation rate or whatever.

But yeah. Corporate greed would probably be the biggest problem with this otherwise pragmatic solution to income inequality.