That sounds like a solution, but who sets the market?
The companies doing the hiring. Most people will think this means that they will just pay them .10 an hour to flip burgers. But if I open a burger place and I want better employees, I'm going to pay them better than the guy down the street. Multiple businesses in a free market will set the wages exactly where they need to be. In the end, will this result in some people perhaps making a little less than minimum wage. I Probably, but it will also make unemployment way lower. It also allows employers to pay more for people who are actually worth it. When I owned my pizza business and they raised minimum wage 3 times in 3 years, I ended up paying my shitty employees the same as my good ones because I had no flexibility left. There were guys I lost, who I would've loved to given raises to, but I couldn't. I was a small business so each time it went up, my payroll increased about $1k a month which doesn't sound like much but when my labor and food costs start running in the low 60s (percentage), I have to start cutting hours, working more, and raise my prices. All of those things together didn't even work. In the end, it will create a healthy competition among low wage earners. And remember, we're talking about 1.3% of the population. And it's not that I'm against helping them but raising minimum wage, clearly, hasn't worked. Never will.