It would reduce the incentive for low-wage workers to get an education and move up to a higher-paying job. The lower the minimum wage, the more eager a minimum wage worker would be to enroll in a community college course at night, improve his or her skills, and apply for a higher-paying job. Making the entry-level jobs higher paying increases the risk that workers will get stuck in them for longer instead of moving on to something more rewarding.
The last nugget of “gold” for now – http://reason.com/archives/2014/03/03/9-reasons-why-raising-the-minimum-wage-i
Did I wish I could have gotten more than $5.35 an hour? Sure, but no one was offering me that, and as an ambitious but inexperienced worker eager to get my start, I understood why: I wasn’t worth more yet. I wasn’t just getting the paycheck—I was building the skills and resume that would make it possible for me to make a whole lot more than $5.35 some day.
More Gold – http://www.forbes.com/sites/objectivist/2013/03/27/to-protect-the-defenseless-we-must-abolish-the-minimum-wage/
There are about 10.5 million unemployed Americans currently looking for jobs. With the minimum wage gone, there would be more available jobs and these Americans could get less than $5.15 an hour rather than their current $0 an hour.
Doing some quick research on the Topic of Minimum wage and came across this gem: http://rebirthofreason.com/Articles/bronez/Why_There_Should_Be_No_Minimum_Wage.shtml