If your business is so inefficient that a minimum wage increase breaks it, then you deserve to go out of business. Plenty of other places who actually run good business models will pick up the slack. And yes this applies to rural places too.
Hell, assuming all other things equal, you're raising prices with inflation anyway, and if you raise minimum wage to account for inflation, WHAT IS THE DIFFERENCE? And shit like 'gas prices rising' is COMPLETELY unrelated.
Labor costs are a vanishingly small amount of total costs for any business, even high-labor businesses. The idea that 40% of your employees get a 33% increase and that results in a 7% increase in 'a family meal' (rick_day already addressed why this is silly) is absurd. If the increase is consistent with the last 5 years of inflation if the minimum wage hasn't moved beforehand, you're not losing anything.
In fact, if minimum wage DOESN'T move with inflation, you're paying your employees less in real wages every year. If you're not making more money from this, your business sucks.
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Date: 18/3/12 19:51 (UTC)Hell, assuming all other things equal, you're raising prices with inflation anyway, and if you raise minimum wage to account for inflation, WHAT IS THE DIFFERENCE? And shit like 'gas prices rising' is COMPLETELY unrelated.
Labor costs are a vanishingly small amount of total costs for any business, even high-labor businesses. The idea that 40% of your employees get a 33% increase and that results in a 7% increase in 'a family meal' (rick_day already addressed why this is silly) is absurd. If the increase is consistent with the last 5 years of inflation if the minimum wage hasn't moved beforehand, you're not losing anything.
In fact, if minimum wage DOESN'T move with inflation, you're paying your employees less in real wages every year. If you're not making more money from this, your business sucks.