If Mexico redistributed its income is there enough money to go around?

Asked by JLeslie (65447) November 27th, 2018 from iPhone

Mexico, like many Latin American countries, has a wealthy upper class, and a lot of poverty, and a not very large middle class, but I actually don’t know what the current statistics are. I write this having learned about the money distribution years ago in school, and talking to my Mexican family members (my husband is Mexican).

Let’s say a reasonable minimum wage was put in place, and maybe add social security for the elderly, is there enough money and jobs in the economy that the middle class would grow, lifting large numbers of people out of poverty?