This will have the opposite effect than the one desired by its proponents. The minimum wage can be linked to the stagnation of black employment because employers were less willing to take risks in new hires. With a minimum wage this high, you can be assured that there will be less low-skilled jobs available. This attempt to force businesses into paying high wages for low-skilled work will result in more automation that will permanently make many jobs obsolete. You can already see McDonald's taking steps to hedge themselves against legislation like this by automating the ordering process. This legislation will kill jobs. Not by a little. By a lot.