I don't believe the government should have any say over the agreement a business makes with an employee on salary anymore than they should have a say over the agreement a seller makes with a buyer over the price of a car. The Federal government was never intended to impose restrictions on commerce or any other economic restrictions on the country that didn't pertain to interstate disputes. This was by design to guarantee the central government could not use commerce and economic policy as a means to acquire power and authority over the other parts of the government federal state and local.
The federal government should not have the authority to pass a law that distills into a single number an economic variable that is so tied to local economic circumstances. They couldn't take into account all local variables. In taking such broad sweeping actions all the federal govt is doing is benefitting one part of the country at the expense of another part of the country and the part of the country that gets hurt is not always who the federal government or the people expected. The real misnomer is thinking the federal government actually knows it's a good idea to set the minimum wage in the first place. Would you let a drug company experiment on u with drugs they don't the result of. So why would you trust the federal government to experiment with a minimum wage?