A lot of these arguments about retirees taking minimum wage jobs and all that is simply increased supply of labor which should push wages down. But they can't

A lot of these arguments about retirees taking minimum wage jobs and all that is simply increased supply of labor which should push wages down. But they can't possibly go down below the minimum wage. Remember, the minimum wage is just the legal requirement that employers prejudice against the least productive members of the work force. If minimum wage is $10/hr but your fair market wage is $5/hr, you're unemployed.