If $10.10 is good for the minimum wage, why not $11.00? Or $15.00, $25.00 or even $100.00? All the arguments that apply to an increase to $10.10 also apply to any higher level.
Go ahead, say “that’s ridiculous, you have to be reasonable”. But what is reasonable? Who decides? The President? Congress? An unelected committee?
If we want the “good of all” and the “general welfare”, then why not take the advice of everybody, all combined? In fact, we have that decision making process already in place. When some people refer to the “free market”, what they really mean is the joint decision-making process of everyone combined.
So if you really to to maximize the general welfare, you should not give the decision to the President, Congess, or an unelected committee. You should let the general public decide.