Research studies of which I'm aware generally show relatively small job losses when minimum wages are increased. But there is almost certainly some potential loss, so the best time to raise minimum wages is when unemployment is exceptionally low, like now. The arguments for raising wages are most obviously that a full-time job at $7 or $8 per hour is not nearly enough to support a family in most of the country. But there is an additional, longer-term benefit, in that it fosters increased productivity, which is a critical need for economic growth. So I favor raising national minimum wages, spread over several years (as proposed), with the option to defer hikes if unemployment starts rising significantly.