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Splash, you may be right about the minimum wage not putting a low wage earner into a higher level of society. But, why not pay the wage earner his earnings instead of having the government subsidize the business by giving food stamps, while the company wage steals, keeping profits for the high level management and owners.
You did not mention Option 3. The Corporate Officers and Owners could take a cut. Again, keeping the majority of the profits is "wage stealing". And, the companies are subsidized by the tax payers.
Simple Economics is Supply/Demand. Who are the consumers in America? Now, the Middle Class families are borrowing to buy houses, autos, and education. The problem here is that young working Americans are forced to mortgage their future. Large debt does create demand, but it is only short term. Proof is in the "too big to fail" banks.
"Trickle Down" economics does not work! Investing in the supply side of the equation does not bring demand. Consumers bring demand. If more money was in the hands of the middle class and the lower wage earners, the money would then "Trickle Up", creating a healthy economy.