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DanielLC 5 May 2015 10:21 PM
56%

I think minimum wage is usually below the market rate for untrained labor, so for all intents and purposes, it might as well not exist.

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ChristianKl 6 May 2015 04:55 AM
62%

In the US there are 3.6 million workers with wages at or below the federal minimum wage (http://www.bls.gov/cps/minwage2012.htm). Do you really think that those cases aren't effected at all by minimum wage laws?

There are also other cases like software startups. A startup has to pay it's founders minimum wage even when they are willing to work for free.
There are cases where there's trouble in YCombinator companies because some startups fail to do so ( https://www.youtube.com/watch?v=EHzvmyMJEK4&list=PLXIzh6qwMf9htBjuMGPWVoPE-1Jk0oeep&index=18 ).

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DanielLC 6 May 2015 01:52 PM
60%

"In the US there are 3.6 million workers with wages at or below the federal minimum wage"

There's 140 million employed Americans. Only 2.5% make that little.

"A startup has to pay it's founders minimum wage even when they are willing to work for free."

How does that work. You can't pay someone less than minimum wage, but aren't you still allowed to volunteer?

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ChristianKl 6 May 2015 05:57 PM
63%

Only 2.5% make that little.

That still doesn't mean that removing the law wouldn't change anything.
There are a lot of laws that don't effect everyone.

If I would advocate to double the tax rate of the top 1% you wouldn't argue that it doesn't matter because that aren't many people.

How does that work. You can't pay someone less than minimum wage, but aren't you still allowed to volunteer?

I think the linked YCombinator lesson about startup legal issues is quite interesting. I recommend it if you want to know more.


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