Maybe this is simplistic but I always think of increases in minimum wage as pay cuts for everyone else. in this case a 25% increase in the minimum wage would translate to a 25% decrease in my buying power. In that sense Obama's suggestion to raise the minimum wage is a direct attack on our economy. What a surprise.
I also think that the federal government has NO constitutional authority to set any wage EVER. But, that's just me thinking that things should mean what they say.