Australia and Scandinavian countries are good examples of this in action: high minimum age, but everything is ridiculously expensive.
It's much better if we provide education, so people better themselves and increase their value in the workplace.
I feel like this is only used by the politicians, who don't really care about people getting out of poverty, and want people to not only vote for them (for getting a government-enforced raise), but be dependent on them for life.