$20 Minimum Wage will leave many unemployed and business closures!

[SunsetBengal]

(06-24-2024, 05:19 PM)Arturo Bandini Wrote: If raising the salaries and taxing the billionnaires is bad for the economy.

Change the economy ffs !!!

The problem, as it seems to me, is that too many grown adults are content to work minimum wage jobs hoping to make a career of it. Minimum wage jobs are just that, jobs that most anyone can perform.  While many minimum wage jobs are stressful and high paced, the skill level at which to perform the basic duties is... minimum.  A lot of those people should consider expanding their skill sets to include a marketable skill that is worth substantially more than minimum wage.

Now, that State Governments are artificially raising the minimum wage, companies are forced to raise prices in order to maintain the same profit margins. Guess what? The offset in the cost differential makes an already slim profit margin go into the red. Now many companies are closing locations, or resorting to technology to replace human workers. (pay once and simply maintain, rather than deal with costly and unreliable humans)

I'm not saying that it's right, it's just how it is. Many of those same people that I spoke of acquiring marketable skills also came from disadvantaged backgrounds that might make learning those new skills difficult. However, the rule has always been that the easiest jobs pay less, the better paying jobs either require a lot more physical or mental effort, or a skill set that is rare.