But how, other then turning americans into literal slaves, can americans possibly be viable to corporations over their current less then a dollar employees? The only way I could see doing so, would be to make use of employees outside of our own country a taxed service, with ridiculous taxation to make the cost of hiring a foreign worker as costly as hiring an american one. But this sort of thing goes against free-trade, which is what a lot of these corporation and government cooperative efforts have been working towards for decades.
Like I said above, if you lower minimum wage, the cost of goods go down, but so will everyones wages via the whole domino effect you guys described in raising minimum wage. You said, when you raise minimum wage, everyones wages tend to be raised in order to keep the current balance, cost of goods go up, and less jobs become available as businesses shrink their workforce to accommodate the new costs.
However, why would a corporation whose been able to do well enough with it's current work force, increase the cost of their work force and thus cost of production, just because they have to pay less per-head? Even if the minimum wage was lowered to 3 dollars an hour, the average wage for an indian employee doing the same job is .46 cents. There's no investment to stop using overseas workers, even if you lower the minimum wage and repeal all the modern worker compensation and insurance coverage. Because the cost overseas for those is 0, and I doubt america will ever be comfortable with employers giving them 0 coverage for anything, and putting all the risk on them.
Anyway, back on point a bit more. If you were to lower the minimum wage, products would probably lower in cost all around. A big win, only the minimum wage raising and lowering doesn't occur in a vacuum. Each state seems, to me at least, to adjust their minimum wages in accordance to the federal standard, even if its higher in some states then others, they raise and lower based on what's around them. If the minimum wage lowers by 50 cents, a lot of businesses, especially restaurants, will jump on the opportunity to drop everyone's pay by at least 30 cents. Think about how much money they'd save doing it. Think about how they could increase their profit by 30 cents per employee every hour from this point forward.
There would be no incentive for every private corporation to not lower everyones wages should the minimum wage lower. Nor is there really an incentive to lower the cost of products by the same set price as the minimum wages drop. Because if they can lower their prices by only 20 cents instead of 50 cents, they make more money, and you still are going to buy their product because every seller is going to do it. You already see this with bargin brands vs more recognizable brands, Great Value vs Kraft for example.
There's a lot of talk about making america viable. But I'm just not seeing the argument present to persuade businesses who already make hand-over-foot using foreign labor to switch back to more expensive labor. Nor how lowering the minimum wage to anything less then .40 cents an hour is going to incise them back.