Well, poverty is a relative term.. but I'll assume you mean the following: Impoverished: One who is unable to meet the basic needs of his/herself and/or his family... with Laissez Faire economics, yes. The rich will always exploit the poor, and there will always be the super rich and the poor who meet the above definition. Without government regulation, greed is king, and as long as the rich can get the poor to work at a minimal wage which allows them to have a house and food, they will do so to the maximization of profits allowable. Anyone who says differently is an apologist for oppression, AKA a Republican.
Let history be a guide, and tell me how American corporations treated their workers before child labor laws, minimum wage, overtime, etc.
Keep in mind, we live in a society where 5% of the population has 95% of the wealth