Minimum wage is actually bad economic policy and hurts the people it is supposed to help, despite myths describing the opposite. Here are the reasons why it should be abolished: 1. The minimum wage, while meant to act as a wage floor, in reality works as a wage ceiling. I.e. there are only a certain amount of jobs available at that wage, and the amount of people willing to work at that wage often exceeds the supply, which means you have unemployment for that group (you know, the group its supposed to help). [url=http://www.bloomberg.com/news/2011-04-28/mcdonald-s-hires-62-000-during-national-event-24-more-than-planned.html]In 2011, McDonalds hired 62,000 people, but had to turn away almost 1 million other applicants.[/url] Employers also have no incentive to pay someone higher, even if they become more productive at a low skill job. 2. The minimum wage does not allow the market to clear. If there was no minimum wage, companies would be able to bid for workers and negotiate a wage at a level that would satisfy both supply and demand, and clear the market of those looking for jobs. In other words, a market wage would be established where companies and people would have to compete for these jobs, which would lead to more positions being filled and more jobs, because competition drives down wages, initially (in low skilled jobs). This video also explains quite simply why minimum wage is bad policy: [url]http://www.youtube.com/watch?v=AbuJYhX3prc[/url]