High minimum wage is one of the reasons that the unemployment rate among young black males exceeds 50%.
Are we talking the government's unemployment figures or "percentage of young black males not employed"? If it's the former, I'd hazard a guess that the predominant reason is their peer group tells them they're lame for working and so they quit/get fired.
If it's the latter, part of the problem is the inflation of requirements for entry-level positions, and that there's only so many minimum-wage jobs to go around... and it's likely an across-the-board, without respect to race or gender, high percentage of young people who aren't employed.
There is a point where raising the minimum wage continues to be beneficial; we have not reached that point, but I highly doubt it's more than about $15-20/hr at this time.
The reason it continues to be beneficial is that price increases are still slower than wage increases up to a certain point. If we want a viable economy, money needs to change hands - and people at the bottom end of the wage scale are going to spend most of their money pretty much no matter what, which means that money changes hands more often.
Yes, the "rich" (more appropriately, the entrepreneurial class, regardless of the amount of money they have) need an incentive to actually create jobs... but a lot of people at the top end aren't interested in that, they just want to keep their money stagnant because it's safer to do that and keep people from breaking into whatever their pet industry is (which might cause - horrors! - competition) than to, you know, actually put it to active use.
In short: there's a fucking middle ground between "no raises in the minimum wage" and "minimum wage needs to be enough that someone working 20hrs/week can support a whole family" and that's where we really should be aiming for.
You are always doing something marginal when the boss drops by your desk.