The problem with minimum wage is paying for rent. I had a job that paid three dollars over my state's minimum wage and 65% of my monthly income went to paying rent. Luckily, I'm still young and in my 20's, so I'm in good health and I don't have a family. If I was a single mother with serious back problems that extra 30% of my income would have to stretch far enough to encompass feeding me, my baby, my baby's schooling, and health issues between the two of us. I'll give you a spoiler: It wouldn't stretch that far.
As for Dr. Severin's question, that's really going to be the issue of our coming times. I have a funny feeling that Occupy Wallstreet will eventually be seen as a pre-cursor shockwave of a much larger social earthquake.
I feel Auntie's pain, too. I have a B.A. degree and I've spent three and a half of my five years out of college unemployed or under-employed. While I was fully employed, I was working in the Standardized testing industry, grading student written essays, and guess what -- they were prototyping AI that could do my job. (And in fact, did score most of the essays. The 30 humans with the job were a sort of baseline check for the AI.) Eventually they decided they didn't need as many human scorers, and I was out of a job. Right now I'm looking for seasonal work.