Wage increase will burden business owners
President Bidens (proposed) $15.00 hour minimum wage increase has pros and cons; its contingent upon being an employee or employer.
If this administration analysis is correct, 1.5 million workers will lose their jobs. They are also predicting that 900,000 Americans will be elevated from poverty. I've always been curious what formulas are used to calculated numbers? Perhaps I'll consult with Albert Einstein!
I'm not a fan of business monopolies, CEO's, or retail corporations. It the wage increase is passed, it will further burden (all) small business owners. By the same token, employees paychecks won't be as disappointing.
Nevertheless, the costs of products, goods, and services will increase and be passed onto consumers!
"Are we winning the battle, but losing the war?"