this post was submitted on 10 May 2024
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Just raising the minimum wage won't do anything other than intensify class warfare for anyone who isn't rich or mildly rich (making more than 200k per year) and work further in the Republicans favor. What needs to happen is this:
Cut social security entirely (all this shit does is support the old rich fucks) and instead initiate a universal basic income which yields a yearly income equivalent to working a full time job at 18.50 an hour. Why 18.50? Because that's the amount needed to cover the cost between the 7.50 minimum wage and 26 an hour which is where the minimum wage would be if wages hadn't stagnated. Furthermore this increases everyone's wealth by the same amount so the people at the top effectively get nothing while the middle class is also helped in addition to those near the poverty line (effectively mitigating potential class warfare). Also the homeless would be helped, whereas a minimum wage increase would only help those with jobs.
Pay for the UBI with taxes that massive tax anyone effectively making over 1million a year. This means corporations and billionaires. In order to do this we have to break the slimy garbage they pull to leverage their non-liquid wealth to avoid paying any taxes while further increasing their billions.
Impose strict regulations on corporations so that they cannot arbitrarily raise their costs in response to the newly raised tax rates.