Reply to Help me understand the impact of a $15 minimum wage?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]You guys are focusing on the big companies who can absorb it easily, what about the little guys? Look at someone that owns a Rita’s ice franchise for example. They have 4 employees at $9 an hour currently, for a cost of $36 an hour, or $360 for a 10 hour day. At $15 that’s now $60 an hour or $600 a day. You’ve gone from $2520 a week in labor cost to $4200. This doesn’t count your payroll taxes and UI being a % of the payroll amount (so now that’s higher). How is that guy supposed to make it up? Magically sell 60 more a day? Easiest way is to cut to 3 people and raise prices.

Just to break even, not to make more, to break even. Good luck![/quote]

Yes you’ll have to cut employees and raise prices, or cut management salaries.  But if your product is underpriced to begin with because you are exploiting human beings for profit.... well, get a new business model.  There are also some incentives that could be structured to benefit small businesses.  And, if we cut healthcare costs by providing a public option, and forgive student loans, a lot of mall businesses was owners would benefit.[/quote]

"Exploiting."  What a crock of total bull$hit. 
So many of these people working for $9.00 an hour are doing so as their first job... to earn a few bucks, but more importantly, to gain experience.  
We're not doing a "public option" and transferring student loans to the taxpayers either. 
Next up - you all will be insisting on paying off auto loans and mortgages for any poor soul making less than $150,000.  
Enough with the fricking hand outs.  
[/quote]

Actually no. Most people working minimum wage are not doing it as their first job. They’re trying to live.[/quote]

Not according to these statistics from 2019.  
https://www.bls.gov/opub/reports/minimum-wage/2019/home.htm[/quote]

Did you actually read that?

“workers under age 25 represented only about one-fifth of hourly paid workers, they made up about two-fifths of those paid the federal minimum wage or less.”

That means 3/5 are over age 25.  So “most”[/quote]

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