The long term ramifications of price controls are virtually, almost always bad. In the case of minimum wage laws, an increase in the minimum wage has the largest adverse effect on the poor, particularly the uneducated poor. Not only does the increasing of the minimum wage bring more skilled workers down into the lower pay scale areas, where they can find easier and less stressful work, which of course takes jobs from the less skilled worker, it will also increase the costs to the poor consumer, who often utilizes the services of the average minimum wage worker (grocery store, convenience store, fast food restaurant, etc.). Less jobs available for the poor while raising the cost of the goods and services they have to buy is a really brutal thing to do to them.
Just get out of the way and let people work towards their own best interest. Social engineering never works.