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I think Ben & Jerry's tried this, tying the executive salaries to the lowest paid employee. It didn't work, they eventually had to hire a real CEO at market prices to run their business effectively.
There are successful companies that are very profitable and pay their workers more than minimum wage, on their own initiative without government interference.
EX: Starbucks
From my own personal experience, I've always started off at minimum wage and then rapidly received pay raises and promotions due to my hard work ethic and skills. If anything, I would appreciate it if the government would tax me less.
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