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

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[quote=Anonymous][quote=Anonymous][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]

The stock market is soaring because of the money being pumped into the economy.

Doubling the minimum wage will cause many businesses to automate earlier than planned.  Those low-level unskilled jobs won't be there for people who have few skills or are not educated.  Small businesses, the heart of our economy will struggle.

[quote]With so many small businesses in the U.S., it’s no surprise that small businesses generate the majority of jobs in the United States. According to the Small Business Administration, small companies create 1.5 million jobs annually and account for 64 percent of new jobs created in the U.S. (Fundera, 2019).[/quote]
https://www.oberlo.com/blog/small-business-statisticshttps://www.oberlo.com/blog/small-business-statisticsv

Those cute little mom and pop and specialty shops lining main street in Anytown, USA -  kiss them goodbye.  Either they won't be able to afford the increases in labor costs, or they won't be able to sell their goods due to increased prices.

Then, there is the "equity" issue - the new liberal buzzword.  A $15/hr min wage is not the same in NY City as in Kansas City.  That is why it should be left to states and localities.  
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Those shops are long gone already man. Walmart killed them . Mom and pops do okay in suburban and urban areas and are already paying higher wages.[/quote]

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