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

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Its not going to pass, IMO.

Joe Manchin (Senator from West Virginia) is deeply against it. His vote is critical in the Senate. $15 minimum wage requirements would be devastating to his state’s already struggling small businesses.   Imagine being a small business owner, barely making ends meet, and your labor costs doubled.  Businesses in high cost of living states can absorb more easily, but many service industries are against this proposed legislation.   [b]You may raise wage for one worker, but layoff two[/b]

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This, or just shut down entirely.   Even large corporations won't be able/willing to operate at a severe loss and may just decide to close.   Anyone been following the story out of Long Beach, CA where two Kroger owned stores will shut down due to the city's new requirement to pay workers an additional $4/hr?   The two  stores were already underperforming and so management just decided to close them.
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I have been following it. They didn't close the stores because Kroger wasn't making a profit.

"Throughout the pandemic, profits soared an average of 39% in the first half of 2020 at supermarket chains and other food retailers nationwide, according to a recent study by the Brookings Institute, a Washington, D.C.-based think tank.

At Kroger Co., the parent company of both Ralphs and Food 4 Less, profits for the first two quarters of 2020 were up 90%, according to the report. Kroger saw its net earnings for the first two quarters jump to more than $2.031 billion compared with $1.069 billion in the same period of 2019."

https://lbpost.com/news/kroger-to-close-a-ralphs-and-food-4-less-in-long-beach-after-citys-hero-pay-mandate

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