Nah, it would force employers to put pressure on the government to stop devaluing the dollar and thus causing them to lose profits, but I'm with you on abolishing minimum wage. I'd also say abolish all taxes except sales tax.
I like the concept of a flat income tax. However I think some businesses would collect the tax, but not turn it in. Many convenience stores do this with cigarette taxes. How many people get a receipt when buying cigarettes? Not many