Some job loss certainly is possible. And I can't compete with your vaunted critical thinking skills, of course. Luckily, though, this isn't the first time a MW has been raised, which means there's plenty of data for simple minded folk like myself to reference.
Just looking at it from 30k feet, we're experiencing one of the lowest unemployment rates in history right now, despite MW increases in every state since forever. How can that be? Maybe it's more complicated than just "wages go up, people lose jobs".
Anyway, is it better for tax payers to subsidize giant corps? I'm absolutely fine with that approach, given a sufficiently progressive tax policy.