You're taking more a societal point of view. At this level, I think you're missing the point of minimum wage. It doesn't provide a family with a living wage; it's just a limit on the monetary abuse that an above board company can dish out, just like we have labor laws that limit other types of abuse (like excessive hours for example). Whether and how our society should be ensuring living wages is kind of another discussion, much more complex. As they currently stand, minimum wages are probably a net good.