I was in a Facebook discussion the other day about the minimum wage and as usual it’s next to impossible to talk to someone who supports the minimum wage because they’ve bought into all the propaganda regarding it. I heard all the cliche arguments in support of it: How without the minimum wage people would be forced to work for slave’s wages, how big greedy companies would exploit workers, how the minimum wage is just an effort to provide low-skilled workers with a ‘living wage.’ It’s that last one I like. The federal minimum wage is currently sitting at $7.25 per hour. Assuming 40 hours per week, that will earn you slightly over $15,000 per year. That’s about $8,000 under the federal poverty line for 2012. What’s that about a living wage?