Friday, August 24, 2012

Why a Minimum Wage Increase Divides Small Business

As U.S. income inequality has widened, and economic studies have challenged the long-held notion that minimum wage increases suppress employment, small business owners and lobbyists are turning up on both sides of the minimum wage debate.The minimum wage of $7.25 hasn't been raised since 2009. There is always staunch opposition from small business owners with any increases, despite the fact that it increases the tax base and lessens the need for government relief. When will the next minimum wage increase be? We can't be for sure, but we can make sure our business is ready when it does. For the entire article on a minimum wage increase and its impact on small business, click here.