Right now, MW doesn't hurt most business because it's below most actual MW salaries in most areas. Indexing it to inflation would make it a problem, JUST like SS is a problem. There's a reason this is the first issue out of the block: it enjoys popular, if naive, support. Sure, some see what it will do to their union scale salaries and don't care that it actually hurts the working poor. But many actually mistakenly believe this is FOR the working poor. If we don't address it now, it WILL be a wedge issue for 08. But indexing it to 'take it off the table'? No. Indexing it makes it a long term problem instead of useless and meaningless pandering legislation.
Indexing it keeps it at EXACTLY the same effective level as it is now. (Technically, it would be slightly LESS of a problem every year. Indexing it to wage growth would keep it EXACTLY even with where it is today. Inflation has historically been lower than wage growth.)
This is NOT like SS. SS is a problem because ALL of the money collected for it was wasted instead of being invested.