How do you think they're going to pay for it? Higher taxes and when they can't squeeze more money out of people, hyperinflation and more borrowing, you have people cheer leading this but they have clearly never considered the mathematics behind this.
Actually, when you consider the mathematics, if people are being paid more, it stands to reason that more tax revenue would be generated. You wouldn't need to raise the levels of tax. Also, the more disposable income people have, the more they will spend, hence more money circulating in the economy.
All this Austerity nonsense we have at the moment is contributing towards the stagnation of our economy. If people are relying on food banks because they can't afford to buy food, that means less people are buying food. Less money being spent means less money circulating in the economy. While a wealthy minority (who wouldn't be able to spend the same proportion of their overall wealth if they tried) just end up accumulating and hoarding their money, so again there's less money in circulation.
A healthy economy doesn't have skyrocketing disparity between rich and poor. If you think the current "trickle down" theory we use today actually works, you've got it all backwards, I'm afraid.
When have I ever said I support trickle down economics? Way to go with your rant against an imaginary version of myself, do you even understand how money printing works? In an economy where we don't have money printing yes, tax revenue would go up, but the point is people barely have any money as it is now, if you raised the minimum wage then the government would be forced to print more and devalue the currency to support it. Then that would push up the prices of everything, then that would mean that the minimum wage raise would do absolutely nothing for your average person and in fact make their lives worse because you just pushed everything up and made them have to work longer for less.
This isn't a matter of 'tax the rich' and to be fair, I don't really give a crap much about corrupt and rich CEO's, they're a different matter entirely, what I'm talking about are the average businesses out there that are struggling, if the minimum wage was raised and they couldn't afford it, they'd be put out of business and that's a mathematical fact, you can't ignore that just because it's inconvenient to your world view.
As I said before, your conclusion completely ignores hyperinflation, you need to go and read up on it, as for trickle down economics, that's just made up bullshit created by Aristocrats and Oligarchs to justify them stealing from people through hyperinflation and they've used tricks like this for centuries, it's the equivalent of having a feast at a table and then giving their employees the leftovers and saying that their employees are benefiting from their kindness while of course always keeping the majority of the food for themselves.
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