Then Minimum wage is topped up with tax credits or be benefit, which I was actually rewarding the buisness not the individual but letting the buisness pay less than a living wage for those 40hrs
its more like, if people would stop settling for wages below what you need to survive, then businesses wouldn't be able to function without paying a living wage. but there is always someone willing to do the work for less so they get away with it. imagine a world where restaurants and farms were forced to employ fully waged employees, the entire country would cease to function.
This assumes that there's an infinite supply of well paying jobs that are freely accessible to everyone, but that's not how reality works. If the options are "work for shit pay" or "don't work at all and starve" then people will choose the shit job. It's why market economies aim for a few percents unemployment(and why places like the US really don't want to forgive student debt) because people need to be desperate for whatever job they can get to keep wages low.
A much better way to solve it is just to legislate that if you work a fulltime job you have to be paid a livable wage.
This isn't assuming shit. the problem is people don't collectively deny labor to jobs that don't pay a high enough wage. They're selfinterested and will take offers that are detrimental to the whole system because it gives them any amount of return. It's literally about collective bargaining, or at least refusing to negotiate for anything less than the bare necessities
So in essence you just want to ban employers from being able to offer poverty wages.
Doesn't that mean even more people would be out of a job as the jobs paying poverty wages disappear? They won't pay more, they're way more likely to close up shop.
Doesn't seem that likely too me. I know there's been multiple European countries doing small scale experiments with it but is there anything similar going on in the US?