Federal minimum wage is $7.25, so... Friendo, you need to work on your arthmetic. You have 50 cents worth of hedge, and $1.25 in proving the opposite of your claim.

Anecdotally, I bought a pound of ground beef a few days ago for $8 in the suburbs of Atlanta. Minimum wage here is $7.25 (federal). Actually Georgia's state minimum wage is $5.15 but that's only allowed in certain rare cases.