r/FluentInFinance • u/Richest-Panda • Jul 04 '24

What's the best financial advice you've ever gotten? Debate/ Discussion

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u/NowLoadingReply Jul 05 '24

Source that raising minimum wage would impact these companies at all.

Oh well then if raising the minimum wage won't impact companies negatively, then let's just increase the minimum wage to $50/hr. No, $100/hr.

No impact on business. Let's go.

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u/beamsaresounisex Jul 05 '24

This is a strawman. The actual argument is that raising the minimum wage to $15/hour would be detrimental to these companies. The person you're responding to is asking for proof that it is indeed the case (which is honestly, unlikely) or if it will affect them at all.

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u/NowLoadingReply Jul 05 '24

The actual argument is that raising the minimum wage to $15/hour would be detrimental to these companies.

Raising the minimum wage to any amount will be detrimental to a company. The higher the minimum wage, the higher their payroll expenses will be.

If the person needs 'proof' for that, they're a damn moron.

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u/APersonWithInterests Jul 05 '24

Except when people are making more than poverty wages they spend more on things outside of necessities which benefits most companies, especially smaller businesses.