Does raising the minimum wage help poverty?
Raising the minimum wage will cause prices for goods and services to rise, which will do nothing to solve the problem, as people will still be paying the same proportion of their income for the same things. Raising the minimum wage causes inflation because company owners want to make the same profit they were making when wages were lower.
Having a higher wage ONLY helps the emotions of the workers, but does nothing to solve the problems associated with poverty.
ONLY THumP® has a viable solution to this problem.
The solution is simple:
Ensure that all people have their basic necessities provided for, without being forced to work for a for-profit company that enriches only a few. Then allow the Free Market to work the way that it has successfully for hundreds of years utilizing a ‘supply and demand’ economy.
No human, once their basic needs of life are met, will sit at home and do nothing. Humans want to expand their horizons and take advantage of the goods and services that others provide for their entertainment and enjoyment, things which SHOULD NOT be provided free of charge. To do this, people will WANT to work. There’s a big difference between ‘wanting’ to work and being forced to work.
Ensuring that the basic necessities of life are guaranteed to all people equally will support and enhance the Free Market system, but will also protect people from becoming slaves and abused by the companies for which they are forced to work to live.
Let the Free Market determine hourly wages, but ensure that no human being is forced to work to live and accept a wage that is not fair for the job that is performed.
THumP® has the solutions. No one else does.®