Unrestricted capitalism is a cause of poverty.
This is true, but we need less restrictions.
this seems to be completely backward. you acknowledge that unrestricted capitalism is a problem, but then immediately advocate moving further into unrestricted capitalism. There are already too few restrictions. That is one of the main reasons we have so many problems with poverty.
-I want to abolish the minimum wage.
why? Minimum wage is supposed to be the minimum needed to be able to live. If an employer were to pay less than that, the employee's would either starve to death or be reliant on government programs to survive. This would mean you are offloading expenses from profitable companies onto the tax payers. It is corporatism (ie, socialism, except you use the government to benefit companies instead of people)
-I want to legalize child labor in some instances (children shouldn't be operating heavy machines or other dangerous jobs, but what's wrong with them operating a cashier for instance on the weekends?)
what age are you suggesting? I had my 1st job at 15. Are you advocating for putting 8 years olds in cashier jobs?
-I'd want to legalize and regulate monopolies. Any concerns that come across with monopolies, there can be regulations for. If your worried about them selling things at a higher price, there can be a regulation for that. If your worried about firing workers or paying them low wages, I fail to see how that would happen solely from there being a monopoly. If it does happen, we can require that monopolies can't reduce their worker's wages.
this is probably the worst thing we could possibly do. This is the exact opposite of what capitalism is supposed to be about. Capitalism is supposed to be about competition driving growth and keeping costs down. If you allow industries to be monopolized you lose the benefits of capitalism and amplify the problems. There is literally no upside to this idea.
Abolishing the minimum wage for example, would get low income people to find better jobs now that they can't live off of the minimum wage.
no, it would massively increase poverty by allowing companies to force people into lower wages that they can't possibly live on. It would massively ramp up the costs of social programs as millions more people rely on food banks and food stamps to stay alive.
Once they do this and they find a better job, then in that job, they would be making like triple their current salary at least because the job pays better and then they would get themselves out of poverty. Multiply that on a scale of millions, and poverty is basically gone in the US.
I honestly have no idea what you think will happen. you think that by allowing companies to pay their workers less, workers will somehow magically make more money. That makes no sense.
Why can't they find a better job if their current one doesn't pay as well? If it's because they don't have a college degree, that's fine. There are so many jobs out there that pay very good salaries that only require a HS degree to actually do that if low income people knew where to look, then they would be out of poverty.
This sounds like an argument for more government resources to help people find jobs and has nothing to do with the minimum wage.