I haven't thought about it too much... in theory, what I learned in college, is that a minimum wage doesn't make a lot of sense. It was 2005, i was just married, and I was taking my final economics class before graduation. there was a nice video i watched which completely convinced me there is NO need for a minimum wage. Doesn't work, economics wise.
I haven't followed this issue closely, and I do know there would be abuses in small pockets, but that happens already. There would be a brief transition period where a few employers tried to exploit it, but people would become better educated and really demand more of their employers, instead of just agreeing to work for the state minimums.
So while I'm not going to hold a sign and occupy a public park for it, I'm okay if we eliminate it.
I like these threads where we explore the ron paul positions and issues, very positive.