I believe in unemployment insurance also, after all its run by the state, not the fed and is fully funded by you and your employer, i also believe in supplementary insurance like AFLAC or something too.
Let's take on your logic shall we? I am going to list all the countries in the world that do not have a government mandated minimum wage, you stop me when you find a really poor shithole of a country that you can apply your logic to ok?
Germany
Switzerland
Brunei
Denmark
Finland
Bahrain
Iceland
Norway
Italy
Sweden
Fiji
Kiribati
Liechtenstein
China
Qatar
Singapore
Suriname
Oh wait, I found 5 countries that are 3rd world and don't have min wage
Namibia
Somali
Ethiopia
Yemen
Zimbabwe ( which only recently became 3rd world)
I bet you a million dollars that the MAJORITY of people who exist in countries with no mandated minimum wage DO NOT have to make their children work at all to pay the bills since the majority of them exist in countries with the HIGHEST per capita income in the world.
Myth Busted, blown out of the water, check my facts. The Majority of the countries that do not have min wage laws are the top per capita income countries in the world.
Fully Half of the top GDP/capita countries in the entire world do not have Min Wage laws. Which is quite surprising considering there are only 23 of the 191 countries that do not have these laws. So in other words these countries make up less than 12% of the countries, yet occupy more than 50% of the top 25 GDP per capita earners.
Kinda flies in the face of everything you assumed about those countries doesn't it?
Even worse? of the poorest 50 countries on the planet, 96% of them have Min Wage laws. Only 2 countries do not, Zimbabwe and Yemen. Somalia can also be included but not officially since there are no statistics due to no government.
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Germany
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[TD]none, except for construction workers, electrical workers, janitors, roofers, painters, and letter carriers; set by collective bargaining agreements in other sectors of the economy and enforceable by law[SUP]
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Denmark
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[TD]none, nationally; instead, negotiated between unions and employer associations; 103.15 kroner per hour, according to statistics released on March 1, 2009
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Finland
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[TD]not in law; however, the law requires all employers, including nonunionized ones, to pay minimum wages agreed to in collective bargaining agreements; almost all workers are covered under such arrangements[SUP]
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Norway
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[TD]none; wages normally fall within a national scale negotiated by labor, employers, and local governments
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Switzerland
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[TD]none; however, a majority of the voluntary collective bargaining agreements contain clauses on minimum compensation, ranging from 2,200 to 4,200 francs per month for unskilled workers and from 2,800 to 5,300 francs per month for skilled employees[SUP]
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Sweden
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[TD]none; set by annual collective bargaining contracts
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Italy
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[TD]none by law; instead set through collective bargaining agreements on a sector-by-sector basis
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Iceland[/TD]
[TD]none; minimum wages are negotiated in various collectively bargained agreements and applied automatically to all employees in those occupations, regardless of union membership; while the agreements can be either industry- or sector-wide, and in some cases firm-specific, the minimum wage levels are occupation-specific[SUP]
[9]
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Fiji[/TD]
[TD]none, nationally; set by the Wages Councils for certain sectors[SUP]
https://www.rollitup.org/#cite_note-CRHRP-2008-8[/SUP][/TD]
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I could go on and on. IN regards to Brunei and Bahrain. They actually rely on near Slave Labor imported from other Countries from Africa and Asia