As production closes and moves overseas, it's not just the poor who suffer.
Richest 62 people as wealthy as half of world's population, says Oxfam | Business | The Guardian
It seems they aren't creating the jobs that say they are.
The Amercian Dream was built on people going to work in jobs that paid a decent wage, they could but washing machines, cars, TVs, clothing, etc. Made by Americans so giving them decent jobs as well. Today the flow of money out of the system means too many rely on low-wage jobs. And the bosses tell us that if wages rose, those companies would go out of business. Yes, no one would be able to buy groceries, washing machines, cars, TVs, clothing, etc. Because the guys selling it weren't on a higher wage.
Reality is the shops with better wages would get the business.
There are solutions, higher taxes on the rich and making sure they pay them, import export balances, taxes to expand the public sector. Migration controls, etc.
It needs politicians who are free from the 1% to do it, those under the control of the 1$ or even half of that. Aren't allowed to and things will get worse. More stores will close, not because of the minimum wage, they will close because people will have no wages. Whoops, that already happens.
Money has to circulate, to keep everyone happy.