The facts on minimum wages.
Major companies are not affected. They already pay minimum wage or more. The businesses affected are the smallest ones. The smaller the business, the more likely it is that they can't afford a high minimum wage. Minimum wages do not affect the profits of franchise companies like McDonalds because they don't pay minimum wage. It's the franchise owner that has to pay it and those are the ones that can't afford it. Raise the minimum wage and these small businesses will not hire, they will cut hours, they will move to a different business model, pay under the table, they will do something in order to survive. They might take their business investment money outside the US and open a business in a more favorable country. They will work around or under profit sapping laws whenever they can.
Major companies are not affected. They already pay minimum wage or more. The businesses affected are the smallest ones. The smaller the business, the more likely it is that they can't afford a high minimum wage. Minimum wages do not affect the profits of franchise companies like McDonalds because they don't pay minimum wage. It's the franchise owner that has to pay it and those are the ones that can't afford it. Raise the minimum wage and these small businesses will not hire, they will cut hours, they will move to a different business model, pay under the table, they will do something in order to survive. They might take their business investment money outside the US and open a business in a more favorable country. They will work around or under profit sapping laws whenever they can.
