Swiss Reject World’s Highest Minimum Wage: SRF Results – Bloomberg

The article mentions less than 10% of the Swiss population makes less than the proposed minimum wage level. Given that lone statistic I tend to agree with the outcome. However, what level and what percentage of the population is “fair” and optimal?

What about here in the US?
A quick google search ( http://www.bls.gov/cps/minwage2012.htm ) shows that 4.7% of the US population earned the minimum wage of $7.25 or below in 2012. Is that “fair?” Perhaps other measures of income dispersion (or concentration) need to be used to assess fairness.

http://mobile.bloomberg.com/news/2014-05-18/swiss-reject-world-s-highest-minimum-wage-srf-projection-shows.html

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