The purpose of the minimum wage is to price small businesses out of the market to the big-government/big-corporate/big-union criminal complex can have a monopoly.
Knowing that....the purpose of any new small business would be to make a fortune with less then 50 employees....
This increase will come from working employees' taxes, as well as from increased prices on goods as a consequence of raising prices to cover the increased wages. More sales taxes as well.
Then there is the increased cost of goods and services to the public, which has to shell out more money to buy the same level of stuff.
So, in essence, price and wages go up, purchasing power remains the same, govt gets more income in taxes, and the consumer, you and I, pay the freight.
Boiled down, it is a tax increase in disguise, and the sheep eat it up.
and union wages..
many of those are tied to the min-wage.
The purpose of the minimum wage is to price small businesses out of the market to the big-government/big-corporate/big-union criminal complex can have a monopoly.
And also to give raises to union workers on contracts that specify a certain wage above minimum wage.