Yes, the minimum wage will give people more money to spend, and thus slowly give them a ticket out of poverty. HOWEVER, it is not enough. Corporate greed will be sure to find a way to keep the poor poor, since when you're poor, you'll take whatever they give you. Increased corporate oversight is necessary to end poverty, better job conditions and better education, so people will be able to earn their way out of it.
If we were to raise the minimum wage poverty would all but disappear, except for the people who refuse to work or are drug addicts. By default, a raise in mimimum wage would also result in a raise in unemployment benefits all across the country. this is an absolute must.
Yes, raising the minimum wage would allow a lot of people to move away from government programs, such as food stamps and Medicaid. They would be better able to provide for their families and their wages would be more in line with the cost of living in any given area. Raising the minimum wage would solve far more problems than it would ever create,
Come on guys lets get the minimum wage icreased so we have less tramps innit. Sauoh uhdh h h h h h h h h h h h h h h h h h h hh hh h h h h h h h h h h h h h
Raising the minimum wage would definitely open a window of opportunity for many people to improve their lives. The cost of living has increased dramatically and people are not receiving enough pay to support living well enough to take care of themselves and their families. When people earn more money, this will also increase the work moral and in turn may assist many off the welfare programs.
It would help eliminate the need for welfare and government programs that support lower income people who could be working and earning a viable income that supports their needs. This also boost the economy because many people will become game players in the purchasing more for themselves, which in turn is helping many businesses to thrive. Many of these jobs are not easy and people work hard doing them. I think many companies would also in turn gain quality employees who are dedicated to their work because at the end of the day they see will see the fruits of their labor. It is motivation for people to do something well when they are compensated well enough. You get what you pay for and I am sure every employer wants quality, as does every customer. I support giving people a chance to live a good life and money makes that easier.
If minimum wage laws are not in effect, the top 1% of the population would accumulate most of the wealth and a capitalist democracy could change into a neo-feudalist society, much like France in the 18th century, and violent revolution becomes inevitable. During Nick Hanauer’s 2014 TED talk, he expresses that a dramatic increase in minimum wage can create a thriving middle class and equally distribute a country’s wealth. He states that the problem isn’t that economic equality exists and that “some inequality is necessary for a high functioning capitalist democracy”1. However, in modern North American economics, “[inequality] is getting worse everyday”1. Nick Hanauer’s solution is to raise the minimum wage so that today’s working class has the opportunity to have moderate economic success in our society. An increased minimum wage is essential in Canada’s current society so that minimum wage laws can serve their purpose of improving conditions for the lowest wage earners.
William Dunkelberg, wrote an interesting article for Forbes that I would strongly suggest reading. I thought that raising the minimum wage was a phenomenal way to close the gap, but the laws of economics don't want to play by the rules we attempt to impose on them. However a good way to attempt to solve this problem would be setting certain minimum wages based on the size of the compnay
One of the principal causes of poverty is the wage labour system, as it allows the capitalist to deny his/her workers the full fruits of their labour via exchanging their labour for appropriated amounts of money. This money will, of course, have to be spent on other essential commodities produced by other capitalists. The end result is that the capitalist class increases their wealth while the working class are left with effectively nothing. Therefore, whether the minimum wage is risen or lowered makes no difference as it is the wage system itself that perpetuates poverty.
Raising the minimum wage is just a bandage, it won’t solve poverty because the root of poverty is social injustice and corporate greed. Raising the minimum wage does nothing to address the structural issue that are keeping people in poverty so how can it ever make it go away? Once you solve the root issues you can begin to address poverty more effectively.
The problem with poverty is that not all of these people have learned to live within their means. Raising the minimum wage, will only cause the prices of goods and services to go up. The solution is to lower the cost of goods and services to help give those impoverished individuals a leg up.
Minimum wage increases help a small percentage of people of whom the value of their work still outweighs the cost of their employment. If you are doing a job that someone would pay $9-10 to do, then increasing the minimum wage will help you. But, if you will pay someone else to do the task for $7, but will do it yourself if the cost is more than that, then the minimum wage means one less job for someone who may accept $7, but has been legislated out of a job. One cannot make a particular task or product worth more than others will purchase it for and substitution of labor occurs, which means the minimum wage only exacerbates poverty.