Economically most people may think this is a great idea, but it's not. The laws of economics determine what wage you get paid. If a company can get workers to accept a lower paying jobs then they will keep wages low. If they can't then they will have to raise wages to get good employees. My fear is that once you raise the minimum wage that high then everyone in business has adjust for it. How do they do that? They charge more for their products which in turn causes almost everything else to go up in cost. This negates the rise in pay that the lowest paying jobs just got, now they have to pay more for things. It also hurts retirees because their money drops in value because things cost more now.