My first thought is it would force many small businesses out of business,even though there are many huge companies(especially in Illinois),that pay pocket change,in my opinion.
2006-12-02 04:58:50 · 5 answers · asked by Anonymous in Business & Finance ➔ Careers & Employment
The reason you stated is legitimate but is it ethical or moral. Would there be a huge problem if there were fewer businesses (large or small) because people earned a living wage.
I guess I just have another question but this is certainly food for thought
2006-12-02 05:04:52 · answer #1 · answered by msijg 5 · 0⤊ 0⤋
That little bit of "pocket change" adds up when it comes to hundreds or thousands of workers working 40 hours a week, 52 weeks a year. A raise in the minimum wage would cost companies more, and they might look for places where the cost of doing business is lower.
2006-12-02 13:08:47 · answer #2 · answered by NEGREYJR 2 · 0⤊ 0⤋
The problem is that when a company has raise the minimum wage they do not deduct that cost in their bottom line. And if the problem can be offset by letting employees go they merely raise the cost of their services. Basically, if you raise minimum wage.... you raise the price of everything to compensate.
2006-12-02 13:10:17 · answer #3 · answered by viper7542 2 · 0⤊ 0⤋
Well, consider this in contrast: give reasons why minimum wage should not be increased by 400%. How about an increase of 2 cents per hour versus an increase of 10 dollars per hour?.
You suggest "an increase". Which: 2 cents or 10 dollars???
I, myself, think minimum wages should be increased. BUT, by how much?
2006-12-02 13:11:14 · answer #4 · answered by Puzzleman 5 · 0⤊ 0⤋
Do you want a free market economy or a socialist government controlled economy? a minimum wage is yet another step toward socialism
2006-12-02 13:08:50 · answer #5 · answered by C W 2 · 0⤊ 0⤋