So that’s the way the cookie crumbles. If you can’t afford to pay people living wages do you really have a viable business or are you actually sucking off of the system by underpaying workers? Many people forget what it took to get places like Walmart to raise their wages, while they were making literally billions in profit while their workers were on food stamps and Medicaid. Don’t think for a second underpaying workers comes at no cost to tax payers.
So why don't we pay them $50 an hour? Or more? This business closes up, the state loses the tax dollars. The employees also stop paying state tax and start collecting UE like Tony says. State loses, employer loses, employee loses. Well done. Oh, and community loses in the form of less retail (though a solid argument can be made that less sugar from this place benefits the community!)
Gov't retards opportunity for small companies, while gaining market share for those too big to fail. Gov't shrinks the middle class, the very customers that could afford $20hr workers. Gov't prints money to inflate the chosen few, at the expense of now vacant retail store fronts.
Employees does not lose.They get a fare wage or unemployment.Employers pay for unemployment benifits.
All of this is hypothetical hogwash. There will be bumps and bruises with any change. Some will lose and others will gain. But what is true is that the idea of “working poor” is an abomination. It must fought.
It was a real shame when they banned child labor and all those factories had to close after not being able to afford anything more than pennies per day in labor costs.