> If you allow a company to set the floor for their market with sub-living wages, then all other companies need to either match the low wages to stay competitive or they'll eventually fail or be taken over.
If that is the case why aren’t we all making minimum wage?
Because we're talking about the floor of employment, unskilled / seasonal / temp labor. Different dynamics apply when you have valuable skills that make you harder (read: more costly) to replace.
The people on the floor, whether they're there because they're just starting out or because they've experienced hardships or just because they don't want to go further, those people, shouldn't have to be living on the streets or go bankrupt from medical expenses. That's the entire point behind a minimum wage.
If that is the case why aren’t we all making minimum wage?