Politicians don't know business
Here’s a business rule of thumb: 20 percent of sales go to wages, 20 percent to materials, 20 percent to plant, 20 percent to administration and profit, and 20 percent to external advertising. It sounds hokey but it really works.
If business owners pay more than their employees produce, they lose money.
If a business has 30 employees working at $10 an hour and the government folks (who never owned a business) want the pay to go up to $15 an hour, the owner can cut the staff to his hardest-working 20 employees. That puts the 10 least effective folks on the street, but his costs remain the same. That’s fair, isn’t it?
Did you guys go to a fast food restaurant and look at the employees? They cost money ALL the time whether or not there are customers walking through the door. Perhaps some of you vote-chasers should wear a pair of shoes from a business owner and actually learn what is possible in the way of paying employees. Then report back.