Agree on both your points -- just ran out of characters in post.
So the "solution" would be to raise their prices more than double, or accept less themselves in return on their "risk".  

Since the minimum wage has NEVER been intended as a "living wage", you crater low skill entry-level employment opportunities in order to create a "living wage" for a small number of people.   

So, decrease free enterprise and increase unemployment.

If your goal is to increase the numbers in the "dependent class" who will then vote for the politicians who promise freebies and handouts, its brilliant politics.