I’ve been stationed in countries where people work 7 days a week just to survive. Eliminating the minimum wage would be a great experiment to try but me thinks it would be a slippery slope to the same conditions. As long as there are people doing well the envy and resentment will be there. We have a lot more people doing well and that spreads the resentment. The siren call of socialism will happen all of a sudden and be more violent.
Here’s another idea. Eliminate the minimum wage and find a way to PROVE one has worked 2k hours in any given year. Paycheck stubs. LABOR tax every worker at 10%, put the money in a pool and divy it up at the end of EACH year. Kinda like a fluctuating basic income. To hell with those that don’t work. Those that do will be too tired to cause trouble.
The negative.It’s really not the governments business ho much you make.