The Chamber of Commerce, and most elected officials from either party don’t get it. Raising the minimum wage makes good economic sense, and it makes good political sense. No matter. “OMGZ! Think of the billionaires!! Won’t anyone think of the billionaires!!?!?!” You can almost see the wheels turning in John Boehner’s head.
I read the speech about 5 minutes before Obama gave it. The big actual news was the support for the minimum wage hike. The big interesting part of that was the plan to index it to inflation in law.
This is one of those issues where Dem politicians are generally incompetent. Raising the minimum wage is popular. It drives voter turnout if you put it on ballot initiatives. There are a lot of popular and good things Dems fail to support sufficiently. We can discuss why. There are a variety of reasons, some rational, some not.