Joe Biden wants to create a $15 minimum wage increase. Now small businesses have a razor edge margin. Right now small business has been hit hard by Covid, no government hand out is going to help small business. They need to get back to business and open their doors. However, to increase small business costs is not the right time. Look at teh bigger business picture, an increase in wages also increases payroll taxes, workers compensation insurance, and a whole bunch of of other costs. That
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$15 and hour goes up to $18 an hour with all of the other costs. The highest cost of any business is salaries and wages, to any business in the United State and around the world it's the same story. You have to look at the entire picture of hourly wages and how it affect businesses with razor thin margins. Now it not the right time to talk about a higher minimum wage.
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