Originally Posted by
imagep
That's possible, but it's pushing the range that is possible without negative consequences.
Basically what you are doing with that argument, is you are saying that if a little of something is good, a whole lot of it must be better. Things don't work that way.
If I got home from work, and discovered that the temp in my house is 16 degrees, I would be foolish to turn up my thermostat to 120 degrees. There is a range for everything that is optimal.
We don't know exactly what this optimal range for minimum wage is, but we can make a pretty good guess. At the low end, it could be anything over $0/hr, so let's call it a penny. At the high end, it's mathematically impossible for the minimum to exceed the mean average, and the mean average amount of value produced per work hour in the US is around $60. But if we set the high end of this range at $60/hr, then everyone would make the same wage, regardless of productivity - that's a mathematical fact. There are obviously reasons why some people should be paid more than others, I think we can all agree on that. Thus, the high end of the range which contains the economic optimizing min wage can't be $60/hr. Maybe half that amount, probably more like a quarter of that amount (in the neighborhood of $15-$30/hr).