The ideal minimum wage of 2014

[President Tyrion]

$0 and a minimum income

The minimum wage is just a proxy for a semblance of fairness. No "ideal" plan should include a blatant market inefficiency.

Really, I wouldn't be surprised if this became a more mainstream position in the future. It's a market solution that would have the potential to increase aid for the lowest classes.

The potential losses here are that service and menial jobs could see incredibly high wages with a high enough basic income, because not many people would want to flip burgers if they already have money coming in. With that said, I posit that the minimum income high enough for that is not really a realistic goal right now.

[President Tyrion]

The ideal number is zero. The safety net should be tied to the earned income tax credit, subsidized health insurance and housing, school and food stamps/vouchers - exclusively.

But what would stop a private business from offering employees $1 a day, noting that by working full time they will get all the paid benefits on your list? Wouldn't that just amount to the employer shifting their labor costs to the government and thus to the taxpayers?

No one would work for $1 an hour with even a medium basic income. That's only $2000 a year in a 40 hour work week.