Code:
YEAR 1 PERSON FEDERAL POVERTY MINIMUM WAGE *2000 HOURS WORKED % OF POVERTY LEVEL
1982 $4,901.00 $3.35 $6,700.00 137%
1991 $6,932.00 $4.25 $8,500.00 123%
1996 $7,995.00 $4.75 $9,500.00 119%
1997 $8,183.00 $5.15 $10,300.00 126%
2007 $10,590.00 $5.85 $11,700.00 110%
2008 $10,991.00 $6.55 $13,100.00 119%
2009 $10,956.00 $7.25 $14,500.00 132%
2014 $11,490.00 $7.25 $14,500.00 126%
AVG Min Wage $11,490.00 $7.11 $14,215.41 124%
2014 proposed $11,490.00 $10.00 $20,000.00 174%
Historically, there is no need for a minimum wage rate increase, this year and maybe a small amount in the near future.
This is about increasing net wages for the lowest paid, and least skilled workers.
So, it is either political or humanitarian depending on how you view things but historically and economically the raise in the minimum wage is not justified.
https://www.census.gov/hhes/www/poverty/data/threshld/
http://www.dol.gov/whd/minwage/chart.htm
^the numbers I used are here