What exactly do you know about this that came from somewhere other than a book or a course or a lecture or a discussion of theory?
There isn't much point giving extra to the rich. They can't eat anymore than usual to boost food production. Give surplus wealth to the poor who will gladly spend it very quickly on all manner of things, thus boosting the economy. In fact you would be doing the " fatsoes " a big favour channelling food away from them to the under nourished. It would put years on their lives.
Raising the min wage does not solve any problem. Anyone making $15 hour now, will want a raise when the min wage is raised to $15. In effect, the govt will be devaluing the work of those currently making more than min wage. It's a miss allocation of capital. Why should the govt be dictating the price of anything? Labor is nothing more than a commodity. Its has a value. When the govt says it should be something other than what it is, they're distorting supply and demand. And a final point. Min wage jobs have historically been temp jobs, most filled by teens/part time (student, retired, etc..) or entry level workers. They aren't career choices, but it seems Obama policies have changed that.
most conservative economists believe the min wage should be eliminated. It's just taking money out of one pocket and putting it in another. But since it is here to stay, pick a number, any number, let's say $10.10/hr and tie it to inflation and adjust it every year. Then we won't have to go through this class warfare every time a democrat needs to get elected.
The govt sets min wage for everyone. Next they will set maximum wage for everyone. Then they will set min and max wage for every job as they do for government workers.WELCOME TO THE NEW LAND OF THE FREE.
Typically man makes money, his children inherit it and not being as clever or hard working spend much of their attention to trying to hold on to their wealth. Hate paying any tax or giving to charity ! In fact adopting a " pulling up the drawbridge " mentality ", which is strange for a nation of fairly recent immigrants. But that's the human instinct I guess of self preservation. Is that story true of the visitor who fell down on a crowded street in NY and within minutes the only people who cared to stop were some youths going through his pockets to see what they could steal ? One of them turned out to be the ambulance driver looking to see if he had a credit card to pay for a ride to the nearest hospital. Psychologists could do an interesting survey of the world's capital cities of who cares. In Peru a street gang of about 20 children that lives there regularly attack targets in the centre of the capital and within 1/2 minute have stripped them bare. Greed or desperation ?