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I'm of the opinion that a higher minimum wage is a better solution, since it mitigates the problem that a job guarantee won't.
According to Forbes, the average Walmart cost taxpayers between $900,000 and $1.7 million a year because its employees don't make enough to pay for food, housing, insurance, and food on the wages they earn working:
A related issue to a job guarantee is a guaranteed annual income, a concept that was proposed by Governor Huey Long in 1934. His program was called "Share the Wealth":
A few of the elements of the program eventually became national law:
An old-age pension would be made available for all persons over 60.
To balance agricultural production, the government would preserve/store surplus goods, abolishing the practice of destroying surplus food and other necessities due to lack of purchasing power
Veterans would be paid what they were owed (a pension and healthcare benefits)
Free education and training for all students to have equal opportunities in all schools, colleges, universities, and other institutions for training in the professions and vocations of life
Variations of the first and last parts of his program are still under consideration by at least some of the Democratic candidates for president, at least by those who espouse raising taxes on wealthy people (e.g. Elizabeth Warren).
The downside of a job guarantee is that it doesn't mean a guaranteed income, and the best example is the approach used by the Soviet Union:
People joked “We pretend to work, and they pretend to pay us.” But the upside was that a fired worker could always find another job, since — thanks to the low wages — there was a labor shortage.