Les Cargill wrote:

1. Yes, they will rise since the demand increase. But not "as soon".
Prices do have an inertia often called "stickiness". The period betwen the
rise of the wages and the rise of the prices it is a net gain for people.
That period, will count with a less disparity in income, fueling up the
economy.

2. Yes, they will rise since the demand increase. But not as much.
You were correct here, they rise proportionally but the proportionality
coefficient it is less than 1 since the minimum wages are not the single
component into the disposable income. The people living out of dividends
will get a bit less, while the wave that will make all the bigger wages to
grow proportionally with the minimum wage increment will take quite some
time.

1.+2. =

Increasing minimum wage will be helpfull for the economy how long it is done
slowly and steadily and not waiting too much to be required a big step to be
taken, that can quake the businesses.

I propose an increment on yearly basis, at least with the inflation for the
year.

But now, since it lag for long, it have to be increased a bit harder and
this might generate some adjustment troubles.

But that is a lesson important to be learned by the businesses:
When the idiot radical right wingers get the power, they always do harm to
people, to businesses and to the nation.