That's because the Republicans have been smart and let the real value of the minimum wage fall to the point where it is probably below equilibrium wage in just about any market setting imaginable. In other words, we effectively have no minumum wage. Secondly, just because we're thriving doesn't mean we're thriving to our maximum potential. For example, the economy is growing now, in thanks partly do the consumption stimulus created by the Bush tax cuts, except that the budget deficit has caused a trade deficit which has actually slowed the growth rate of the GDP. Point is, a bad economic policy won't necessarily bring the economy to a screeching halt, but it may slow growth.
do you really believe this? Really? Let your self go for just a moment and imagine this country if no labor laws had been enacted....if the monopolies had not been broken apart... do you not see that soon all power and all force would concentrate in the few. You would Latin America.