Instead of raising/lowering the minimum wage, why not try to lower the overall cost of living. This would benefit everyone, stimulate the economy by putting more money in everyone's pockets, which in turn would stimulate job growth and bring in more sales taxes that can be put back into the local communities.
Raising the minimum wage isn't a magical miracle that will eliminate your money problems. Say the minimum wage is raised to 10$ an hour. Businesses that have lots of people on minimum wage will now have a large problem, and their revenue goes down. Not happy about this and trying to remedy this situation, they will raise prices. Congratulations! You now have the devaluation of money! Here's a real life-example. Back in the early to mid-1900s, things were very cheap by today's standards. You could buy a week's worth of healthy, wholesome groceries for the price of a modern dinner at a restaurant. People are amazed by this! "Wow, things were so cheap back then! They were so lucky!" Well, no. Back then, items were cheaper, but people had less money. Things were only a few cents back then because people were only making dollars a day. As the average amount a person was paid rose, the prices for objects rose also. Again, the devaluation of currency.
I agree that businesses will find a way to get back their lost income (by increasing prices). However, inflation is set by the government and federal reserve, not by minimum wage. I think that the individual states should set their own minimum wage that reflects their cost of living in their state (Massachusetts costs a lot more to live in than Florida).
I agree with that, at least. Set the minimum wage to a state-wide standard, so while each is different, they can more or less guarantee the same minimum quality of living wherever you go. Also, while the companies do not control inflation directly, they do indirectly. If they start paying workers double, but then double the prices of all their products, well, then the dollar is worth and buys half as much as it did before.