Quote:
Originally Posted by GirlySports
And people working past retirement age due to cost of living. It's a combination of so many things that are not solved by drastically raising the minimum wage.
And then tipping is a whole other issue discussed in the tipping thread.
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In Ontario when they drastically raised the minimum wage, it resulted in a lot of small businesses reducing working and business hours and hiring more part-time employees and contract workers to avoid paying benefits or having guaranteed hours. A lot of restaurants for example simply closed down during the day and only open at night since the days went from breaking even or small losses to big losses.
Honestly, consumers don't want to pay what things are actually worth and that is a big issue. The cost of the product or service would be passed on to the consumer, and suddenly the new minimum wage is no different than the old minimum wage.
I see the issue of billionaire CEOs and owners of mega companies as a different issue. They aren't the ones that would really be affected. It's more the working class business owners that would get screwed. As mentioned, a lot of them barely make any money as it is and they are the ones taking all the financial risk. A lot of them would love to make a guaranteed minimum wage without having to worry about the livelihood of others or whether they are going to ever rise from their business related crippling debt, but they are still caught up in the dream that things might get better.