[The Electrician]

Where does the 'earned income tax credit', food stamps, underground (off the books) economy, other sources of assistance, and the like enter into the picture? Focusing solely on minimum wage is hardly a complete or accurate picture.

[Red Jones]

of course the minimum wage statistic isn't everything, it's just what it is.

A lot of people think that post 1970 the economy went bad because of excessive spending on welfare types of programs. This is because in the tumultuous 1960's politicians made such a big deal out of helping the poor and then after that time the economy went bad.

But all that helping the poor didn't cause the economy to go bad. What caused the economy to go bad was all the dysfunctional regulations imposed on business, the tort costs and then later on very unwise trade policies as well as run-away government spending that was directed in all directions, not just to the poor. When you measure transfer payments from the taxpayers to citizens and see which income group of americans gets the largesse, well it is the upper 20%, the top quintile, that gets the largest amount per capita in transfer payments. The lower 20% is second in this stat, not first. The bureaucrats also benefit a lot more than the poor.

We've ourselves turned our own economy bad because we never discipline politicians who make decisions that harm our economy. And then we've blamed it on the poor. As some old-fashioned people would say this puts our souls in mortal danger.