Once you've raised a minimum wage, you shouldn't lower it.

It's sort of the problem with minimum wages

If I got a pay cut rn I'd be kinda hosed

True but minimum wages was made to be a starting point

Senor ... honestly I think you should leave economics to ... other people.

An extra $200 ish dollars per employee when businesses are already thousands in debt isn’t good.

😂

I’m just not good when it comes to minimum wage

Thats $200 over a whole year, in a 20k annual salary.

It's literally basically nothing

Like, at that point $200 isn't going to break the bank

If you can't afford an extra $200, ngl I don't think you can afford that employee

XD

You have to remember, Even small businesses can often, if not always are handling over 1 mil over a fiscal year

wow

this is ... not great

2020 inflation rate is only .62%

which ... is getting dangerously low

We should lower interest rates.

😃🔫

That’s per employee. My families business had around 15 employees before it shut due to COVID. That’s a good $3,000 less, which only adds to not making profits this year

Ouch

The U.S. Small Business Administration counts companies with as much as $35.5 million in sales and 1,500 employees as "small businesses", depending on the industry.


That’s a good 300k loss, per year at Max

3k is a large expense, but in a normal year, you would also generally raise your prices by a similar 1.2% rate to cover increased inflation

Is it really? Holy shit

Yeah

We’re fucked

It’s ... not great

We should really get that back up to 1%

We don’t want the economy to start into deflation

I don’t normally condone printing money but I think we need to print money to get it atleast back up to 1

No

Bad idea

That’s a really awful idea

When you want to raise the inflation rate you lower interest rates

Small businesses, especially in retail probably can’t afford a raise in price if the big guys don’t raise price too. Which is concerning to me

The big guys do raise the price

No. Whoever taught you economics didn’t do a very good job no offense 😂

Sure it’ll lower the value of the dollar but honestly we need to get inflation going straight then maybe that’s the only way unless the businesses can reopen or we stop spending massive buck and losing money because the government spends way too damn much

But the price raise is usually a few cents

It was a liberal so understandable