There are economic reasons for supporting it as the economy is rising as it is now and reaching or at full employment. Increasing the minimum wage will increase worker income, consumer spending, spur more investment, and reduce demand on social programs. Who says this? For one, the head of Citi Bank, as well as the heads of several other major banks, including big Walll Street investment banks. Trump said this during his campaign although it is not clear where he is going now because of horse trading with the Repbuclicans. However, some of his advisors are saying that increasing the minimum wage goes hand in hand with his new deficit spending budget by insuring that corporate tax breaks go to employees (and not just to shareholders and management or buying back stock) to spur more growth in income and thereby spur even more consumer spending and investment economic growth.