Contributive distribution of wealth, not redistribution of wealth, or rocket science for the flat Earth bound,
A new report shows that boosting the minimum wage to a paltry $10.10 an hour would reduce SNAP expenditures by $4.6 billion:
Putting money into the hands of those who will spend it, not save it. Money sitting idle is not making anyone any money. Raising the minimum wage and Social Security benefits does.
Front-end fixes that distribute wealth more fairly before it makes it to the hands to the plutocrats is more desirable in my book. They’re harder to get rid of legislatively, they eliminate the “we’re overtaxed” argument, and they reduce the incentive for capital mobility.
Raising the minimum wage, altering the structure of corporate law to encourage worker ownership, and instituting regulation and transaction taxes on Wall Street to encourage real long-term investment instead of job-slashing hollow corporations are all examples of front end fixes.
Fiscal policy doesn’t have to ‘stick it’ to anyone.