Minimum wage is an arbitrary law that benefits only the politicians. It does not benefit the employer to pay someone a wage not based on performance, productivity or profits. When the wage is mandated by Congress to go up it causes most employers to either lay off employees or cut their hours to compensate for the added expense.
The employee does not benefit either because most will see their hours reduced or lose their job all together.
The consumer does not benefit because the employer will have to raise prices to cover the expenses.
The Congressman running for re-election will benefit because he will tell people he will raise their pay in order to get their votes. Because most people don't understand how the market works, they will gladly accommodate the politician.
The market knows best how to set prices for labor as well as goods and services. Congress has proved time and time again how when they try to manipulate economies, they are bastions of ignorance. Most have never run a business. Liberty depends on personal responsibility, if we let the government take care of us, over time we will become completely dependent.
"I believe there are more instances of the abridgment of freedom of the people by gradual and silent encroachments of those in power than by violent and sudden usurpation's." -- James Madison
