How Would a $15 Minimum Wage Kill Small Businesses?
The minimum wage is not a magic bullet for small businesses. It is a tax that we all pay. A $15 minimum wage will give fewer employees a little more money to spend, and this will boost the economy. In addition to this, it will help the economy in other ways as well. As a result, a $15 minimum will be beneficial to everyone, not just the worker.
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A $15 minimum wage is a huge step for the country, but it is not good for small businesses. Companies like Walmart, Target, and Amazon already have a low staff turnover rate. A mandatory minimum wage will increase costs for these businesses. While the minimum wage will benefit some workers, the average employee is still only paid $12 per hour. A high-wage minimum wage will force small businesses to raise prices.
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The government should make this legislation mandatory. This is a bad idea. It would only make employers have to increase the costs of their products and services and cut their labor costs. This would ultimately hurt small business owners. This would mean cutting jobs, hours, and benefits for workers. And this wouldn’t benefit the employees either. And it will affect small businesses the most. Therefore, we need to raise the minimum wage to keep it affordable for small businesses.
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