Here's an excerpt from today's blog post by oft-here-quoted economist Don Boudreaux. He, yet again, makes perfect sense on the topic:
Here’s a project for all unemployed young people – say, ages 18 through 21 – in America today. Go to a nearby supermarket or restaurant or lawn-care company or pet store and ask for a job at the minimum wage. If you are denied, offer to work for $4.00 per hour. The owner or manager will almost surely decline, saying that it’s against the law.
“Would you like to hire me at $4.00?” you ask.
“Well yes I would” is the answer you’re likely to get in reply.
“So, hire me at that wage. I’m an adult, I’m sober, and I have no mental issues. I’m willing to work for $4.00 per hour.”
“You don’t get it, kid. I can’t hire you at that wage. I’ll get fined, or worse. Go away.”
“Ok, I’ll leave. But no one – including you – will hire me at $7.25 per hour. What am I supposed to do?”
“Look kid. That’s your problem. I’m sorry. I don’t make the laws, but I gotta follow them. Go away now.”