The number one problem we face in this economy is stagnant and declining wages. Wages have in fact remained unchanged since the 1970's. Simple economics about supply and demand prove that when people don't earn enough money to purchase the products they make and the services they provide, job losses are sure to follow.
Consumer spending makes up over two thirds of all economic activity, so by raising the minimum wage we not only restore the demand problem we are facing, we also help strengthen and expand the struggling middle class.
Even more exciting is that by increasing wages, people might not have to work 60 hours a week just to make ends meet. It will increase living standards, make cities safer, and pave the way for greater creativity and entrepreneurship.