President Trump?

[silverx2]

Why do all successful nations have a minimum wage? Did they all decide to do something bad for their economy?

edit: it drives me crazy when governments decide i'm too stupid to choose what i will or won't do for $1 so how come minimum wage seems to help nations succeed? i'm really mixed on this issue. is it that we are succeeding in spite of minimum wage laws or is it that the collective really is dumb and needs government to decide their worth lest they be chewed up and spit out?

I think the big issue isnt so much that the government is worried that you will do anything for $1, but a result of If there was no minimum, It would result in companies being able to low ball people into doing jobs for less and less.

Jimmy and bob both want to flip burgers at the local burger joint,

Jimmy says he'll work for $.75, Bob says he'll work for $.50 Bob gets the job. It essentially Devalues employees and causes a reverse auction effect until you have someone working for less then what a person needs for cost of living. On top of that a company like walmart could force/buy all the other companies and then when a person needs a job walmart can force them to take tiny amounts of money because there is no competition . "hey walmart i want a job" "sure here you go plus your getting paid $.15 an hour!" "Wait what no way dude, im outa here im going to go work at this place they offer $4.50 an hour" "LOL we just bought them with all our profits now their employees are all fired, but they can work here for $.15 if they want"

End result, a lot of people getting paid Less then what it costs to but what is being produced by everyone else, This means products go unsold, Which results in businesses losing money not because of labor costs, but because the supply is so much higher than the demand they wont make a profit.