If society decides that everyone should have minimum standard of living despite their skill level or net contributions, then it should be society as a whole that bares that burden, not just the enterprises that employ low/no skill labor or their consumers.
A minimum wage is nothing more than a tool in our arsenal to fight poverty. I (and many economists) argue that it is one of our worst tools. A negative income tax is much better. It won't distort labor markets or risk driving up unemployment. And it's fairer in that the burden is shared collectively rather than just by some industries. Goldman Sachs doesn't get hurt by a minimum wage, but small business owners, such as those running a convenience store, do.
A minimum wage is nothing more than a tool in our arsenal to fight poverty. I (and many economists) argue that it is one of our worst tools. A negative income tax is much better. It won't distort labor markets or risk driving up unemployment. And it's fairer in that the burden is shared collectively rather than just by some industries. Goldman Sachs doesn't get hurt by a minimum wage, but small business owners, such as those running a convenience store, do.