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No, because labor rates are an unbalanced equation. Without a regulated minimum, employers will take advantage of the excess of laborers. The inherent threat of the violence of poverty will always create more supply than demand, because there is always someone willing to work for less.
But if your employer already values your skills at a certain rate, there's no reason to accept a pay cut for the same work. If you're great at your job, you'll likely still earn tips, but without the risk of going unpayed for your labor.
That only applies during high unemployment, right now there isn't even 4%, really nobody to exploit. Fast food places in California are paying $20/hr starting, much higher than the local $15/hr minimum wage in the cities
That $20/hr was legislated by the state not the "market rate" like you're trying to argue. It's kind of hilarious that you used that example considering it completely supports the other side of your argument.
Cool. No reason that work shouldn't pay a living wage for everyone everywhere forever.
If there's a big crash and everyone loses their jobs it's better that a few more people have jobs that pay under a living wage.
It's easier for the government to give a little bit assistance to someone who is underpaid than to pay all of their bills