Minimum Wage: Fools' Gold
The advocates of a higher minimum wage, a.k.a., living wage, are an example of how the roads to hell are paved with good intentions.
Raising wages creates inflationary losses for the minimum-wage earner as
The effort would be better spent ending campaign welfare, a.k.a. wealthfare. Raising the minimum wage merely creates short-term relief with long-term losses. The basic cost of goods and services is increased by the business costs of having to raise prices to match the increase of money in the hands of the minimum-wage earner.
Even worse are broad tax cuts which create inflationary pressures throughout the economy: more money chasing the same number of goods and services. The only people who benefit from tax cuts are the people with the lowest percentage of their income going for the common goods and services which suffer inflation.
The numbers on paper don't raise people's standards of living. People's standard of living is raised by it taking less time to solve the problems of living. If the proposed solution is to give people more numbers on paper which causes time to be diverted from solving problems, then the overall economy has less time per person. Cost of living in the only thing that matters, time/lifehours, has increased.
Consider the following wage hike scenarios:
The solution for the working poor and middle class is not inflationary minimum wages or union strikes. The solution is definitely not an across the board tax cut. The solution is to repeal all the tax credits the habitual politicians have piled upon that chaotic garbage dump that is called a tax code.
When we have term limits, politicians will vote what is best for their lives outside of office rather than what will get them re-elected. When we have better democracy through the internet, monthly citizen legislation to repeal tax crap will lighten the load on all working problem-solvers.
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