Minimum Wage Hikes Kick in Across the Country—at the Worst Possible Time for Small Businesses

2020 was one of the worst years in modern American history for small businesses. And now, thanks to a wave of minimum wage legislation that kicked in on January 1, things are about to get even worse.

People forget that the real minimum wage is always 0. If a business cannot afford to hire you then they will not. Some people also seem to forget (or perhaps never knew) that not every single job is meant to be a career that provides you with all you will ever need. In any case, whatever you cost your employer you have to provide back in value. If you cost your employer $15/hour (and really we are talking much more than that once you factor in various taxes) then you had better be contributing that much back to the business in work value. The higher your wage, the harder that may be to do.

For a long time small businesses have provided 50% or more of the jobs available in the economy. I wonder if it will still be that much when this is all over? in any case, artificially higher wages will result in fewer jobs available. A victory no doubt for the mathematically challenge that think 0 is better than $14/hr...

Source: Minimum Wage Hikes Kick in Across the Country—at the Worst Possible Time for Small Businesses - Foundation for Economic Education