Combine a significant increase in the minimum wage with the additional costs being shoved down the pipe due to Obamacare, and you've got a certain method to keep people from opening new businesses. I'm undecided as to whether I will keep my doors open if Obamacare is upheld, but I can state with certainty that a significant increase in the minimum wage will lead to the closure of my business. Margins have contracted to the breaking point, and there is no room to absorb additional expenses. Higher payroll dollars equals higher matching taxes for employers - your talking $14 to $16 in real payroll expense per hour at this proposed rate. It is not possible.
Sadly, you’re exactly right.
There’s no way this will get through the House and everyone knows it but it’s the class warfare and the votes for the RATS that this turkey is after.
The majority of RATS seem like they’d be happy to put most small business out of business.
This is a standard election ploy from their well-used playbook, they bring up minimum wage increases almost every election if not every election.