I think there is a relatively easy calculus here: calculate the amount of government spending required to get to "make everyone whole", subtract any new tax rev

I think there is a relatively easy calculus here: calculate the amount of government spending required to get to "make everyone whole", subtract any new tax revenue/decreased benefits spending. If you're losing money, then you're probably better off not doing it. The goal with the minimum wage is to provide a baseline. The same goal as general poverty reduction programs, so one should probably look at what is most effective from a government cost perspective. This does shift the burden onto consumers, but this is probably for the best in the long run.