Earlier quoted context omitted.
I support UBI but it’s not in the cards any time soon, fine. Then, we should aim for one overarching economic policy target: most people should be able to land a job that would enable them to generously house, feed and equip one adult and several children without working themselves to the bone. This should include a reasonable amount of leisure and luxuries, and a thorough safety net. How to achieve this? I’m not sur…
One absolute prerequisite for this would be making the minimum wage a thriving wage. Until and unless that happens, jobs traditionally seen as "bottom of the barrel"—things like fast food, grocery cashier, etc—will remain an important source of jobs for those in dire straits (very much including adults with families), while also still paying so little that even a teenager looking to make some money over the summer mi…
What makes you say that someone should be able to "thrive" on the least-paying job? That's like saying that the dumbest person should be able to do get into selective universities, or that the weakest and slowest person should be able to win medals at sporting competitions.
Let me put it another way. Does $66k/year sound like a thriving wage to you? That's a little over $4k/mo after taxes. You won't be able to afford to pay rent, let alone buy a home, in any of the country's most popular cities, or take a family of four to vacation in Paris every year, or buy a nice new car. You could live in a smaller city in a less popular state, drive an older car, and maybe take your family to Disney World every now and then. Would you call that thriving?
That number ($66k/year) is all personal income in this country combined divided by the population; so that's the standard of living you could expect if all income was evenly distributed and it magically had no detrimental effect on the supply of goods and services. It seems like an extraordinary claim that the lowest income should even be able to afford a median lifestyle, let alone a "thriving" one. Perhaps I misunderstand what you mean by that word.