Your belief that regulations are what provide people with a &quot;living wage&quot; is totally ignorant of how wages are set. By your logic, we could make the minimum wage $100&#x2F;hr and make everyone upper-middle-class. That we can&#x27;t is not because minimum wage only works in some income bands. It&#x27;s become minimum wage doesn&#x27;t work, period. It can&#x27;t increase the net amount of capital available for paying workers. It only redistributes it, at the expense of the economic growth. Economic growth, meaning increases in total production, is the only source of increase in capital available for employer labor expenses, so minimum wage retards wage growth.