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Going to use my economics degree in action here:

In an unfettered market, the interplay of supply and demand will result in an “equilibrium wage.”
When politicians impose a minimum-wage mandate that is above the free market equilibrium level, there will be more unemployment.

Because of massive immigration, both legal and legal, there is a massive oversupply of low skill labor in America. (Notice the same people that are promoting illegal immigration are the same people demanding an increase in the minimum wage, and, you can’t have both.)

The result is obvious: wages, benefits, and working conditions have declined or stagnated for the last 25 years.
Because of hundreds of thousands of foreign work visas, USA wages for software engineers and related professions have stagnated for 15 years.

One destroys jobs and the other guarantees poverty or low wages for millions of American-born citizens.

If we weren’t importing so many illegals, there would be an ability to make wages higher. Since we would be hiring our own and of course, would be hiring someone who speaks fluent English and would likely make something of the position. No matter how you look at it, bad news all around.

The US can’t do it anymore.

Yeah, I know I'll get into trouble but I do believe in some form of minimum wage but I think we need to keep it as it is now or leave it as an issue for States to decide. Basically, I think overall, we as a nation are like ants fighting over a dwindling supply of meat on a corpse. We can add in to the mix the fallacy of international "free trade" where we have lost so many such jobs for low skilled people to get and eventually learn and move up. We need to make things to bring in real wealth, most jobs today just shove money around, either be manipulating bytes in a computer or a service job. Also, we take in too many immigrants too, we can't keep doing that with the limited supply of jobs we have now.

So if we hike it up to an unreasonable level, looking into my crystal ball, you'll have fewer jobs, maybe more automation with robots and so forth. We might have to go hardcore socialist out of pragmatism and necessity due to things being so skewed. This will not bode well either, there will be an effort to call for a guaranteed living wage. The only way I can think of funding such an endeavor is to either charge huge license and registration fees for each robot or to tax the profits made by robot and automated labor, the only way out is if you employ people.

I can understand those who want to raise minimum wage, there are lots of people hurting out there, heck, I'm one of them, but it has a sort of a Zen Buddhist thing to it where it is like if you push more the less you get and the worse off you'll be. It is like the snake chasing and eating it's tail in a circle and then you'll get a downward spiral. Maybe that's how civilizations "crash" and reset themselves.

Ping to Cringing Negativism Network on the free trade issue.