Hello, sorry if this comes off as attacking, it just freaks me out and i wanted to know what your take on this is.
By raising minimum wage you're killing and preventing small businesses from opening. This means less “little people” being able to branch out.
One of the big draws of America is the ease at which businesses can get started, which is why a lot of immigrants are able to start a small business here.
By raising minimum wage, people won't be able to branch out as they don't have the finances to begin.
Since they don't have the money to start, the job market becomes dominated by the big corporations, big companies, and established companies that can afford to bear these costs.
Because less business's open there will be less jobs to go around, leading to more poverty.
One thing these larger companies do when faced with something like a high minimum wage and/or having to include an insurance plan as well as time off and the whole package, is to seek out something cheaper. So when looking at the amount of cost it is to pay for all that they start outsourcing, and switching to automation.
So looking at the costs, one employee will cost me their minimum wage and/or insurance and/or payed leave. Or just getting an automated employee (like self checkout stands, for example), or look to another country's labor, which will be cheaper, since minimum pay is lower, requires no insurance costs, and no payed leave.
So, it's difficulty for small business's to start, only these large and established companies that will choose the cheaper route for labor.
And since they're outsourcing and the like, there will be less jobs locally.
So wouldn't raising minimum wage just give larger companies and corporations more power, while reducing the amount of jobs locally? Wouldn't that increase poverty?
Would love to have a discussion.