When the entirety of your earnings are exhausted on food and shelter, your labors are no longer viewed as an opportunity for economic advancement, but rather as an act of self-preservation. In the real world, that's called slavery.
Minimum wage jobs were never meant to support a family. They were entry level jobs or part time jobs. Put the politicians on minimum wage and watch how fast things change.
I'd love to get paid that much! I get only a little less than that right now, because I have managed to find a company that believes in taking care of it's employees, but even when I was getting $14/he I could barely feed myself...and I have a VERY tight budget.
Well due to people having great ideas they are allowed to show those ideas to the world and make money. If there was a maximum wage then I would have to share my wealth with those people who do not want to work for their money.