Liberals want to tax everything they don’t like so there will be less of it, and subsidize things they do like to get more of it. No one seems to have bothered to wonder what would happen if you subsidize poverty.
Sorry Bernie, the facts aren’t on your side.
First of all, only 1.9 percent of workers in America earn the minimum wage. Further, the poverty line for an individual is LOWER than what he or she would earn working full time on the minimum wage, and only 2.7 percent of full time workers live in poverty. The Foundation for Economic Education says, “after comparing income with poverty thresholds, the only way someone earning minimum wage could live in poverty would be to not work full time or to have a large family with relatively few earners in the household.”
Poverty isn’t a result of people earning too little, it’s a result (in most cases) of not working enough.
Don’t forget…while we supposedly have an unemployment rate of 5 percent, we have a record 92.8 million people age 16 and over not in the workforce, and not even looking for a job.
If you start paying people not to work, you’ll get a lot of folks applying for that job.
[Note: This article was written by The Analytical Economist]