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Reply to "Help me understand the impact of a $15 minimum wage? "
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[quote=Anonymous]I’m hearing that small businesses are worried about surviving. I’m also hearing that people are too. So you have to do both—require living wages, and do more things to even the playing field for small businesses that don’t involve hurting the people that work for them. And to the PP—it doesn’t matter how many people currently earn minimum wage. You keep harping on that—but the fact that only like 2% of workers are in that category doesn’t help make your case. About 42% of American workers make less than 15 dollars an hour. That’s the relevant consideration. All of those jobs won’t disappear if wages go up. Prices will go up in some cases, some businesses will consolidate, some will break up, some will close, some new businesses will open. It’s a complex picture. But the economy we have can likely bear it. The stock market is skyrocketing even when we have massive unemployment. It tells you everything you need to know.[/quote]
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