Raising the minimum wage results in job loss. A 2006 review of more than 100 minimum wage studies by David Neumark and William Wascher found that about 2/3 found negative employment effects. It hurts low-skilled workers - reduces employment among low-skilled workers (reduces the employment of younger, less-educated individuals). It has little effect on reducing poverty. It may result in higher prices for consumers; a 2007 study from the Federal Reserve Bank of Chicago found that restaurant prices increase in response to minimum wage increases. I think an argument can be made to lower it or eliminate it, but I think society has developed a mental block that a control is necessary to ensure people will work these positions. Unfortunately, people don't understand that minimum wage jobs are not career choices or entry level jobs but rather services to meet a need. Why should a maid get 15 dollars an hour ($30,000 a year) and a new teacher at a public school start at roughly the same wage (if not lower). People need to get into the mindset that demand for jobs will always be there. You are always going to have people who want/need to wait tables, clean hotels, etc. These should not be long term jobs, but rather temporary jobs for students, supplement jobs for low income working professionals, etc. Professional jobs allow the market to dictate salary; non-professional jobs should work that way too.
There should be no minimum wage. In a free market economy it is up to the citizens to decide whether or not a business should stay in power. The higher the minimum wage the more deflation occurs. If we see an abolished minimum wag pretty soon one penny will be worth the equivalent of one dollar. It is this in fact that allowed America to dominate the economic landscape for many years. But with more government control of the economy does not help it, in fact it hurts it.
The United States of America should enact this plan.
The United States of America will abolish minimum wage laws to protect the interest of small business owners and the average American.