Food will not be the only price that rises... This just recalculates 'bottom'.. the poor will still be poor with just higher numbers of less valuable money
Yes. And so far, raising the minimum wage has only INCREASED the numbers of people on welfare. I haven't seen any statistics anywhere except in very short term regional areas, in which raising the minimum wage reduced the number of people receiving public assistance.
What did reduce the number of people on public assistance was limiting the length of time people were allowed to be on it. In my opinion requiring work for welfare - either get a paying job or do community service in return for the welfare check--along with policy and regulation to encourage economic growth rather than inhibit it as is happening now--would eliminate all welfare other than the most hard core needy who are literally unable to help themselves.
People who are demanding a higher minimum wage are like children spoiled on sugar. No matter how much they get, the need for it is insatiable, unquenchable.
Having lived during times that we had a whole lot of week left after the paycheck ran out, and working two, sometimes three jobs to keep the wolf from the door, nobody knows better what a living wage means than I do. I still remember when we were able to open our first savings account because we finally had a little left over after paying the bills and buying groceries. It is a great, freeing, liberating experience. I'm sure not knocking it.
But the fact remains that every dollar of wages mandated by the government comes out of somebody's pocket. Either that somebody just eats the expense and accepts a reduced income for themselves or they pass the cost along. Earned wages are rarely inflationary because they take nothing from the economy but rather add to it. Unearned wages are always inflationary because they take from the economy more than they can ever add to it.
And welfare is even worse. Every dollar the government distributes represents approximately three dollars drained from the economy. It doesn't take a genius to figure that if you're only getting $1 of value when you spend $3, you're going to go broke pretty fast.