I know as a busy business owner or taxpayer, taking the time to truly contemplate the impact of skyrocketing the minimum wage overnight is easily dismissed by more pressing matters of the day. I need to ask you though to STOP and really think about it.
Each full-time employee currently working at $8.75 would be paid $13,000 more in wages, but don’t forget, FICA, Worker’s Comp, and other insurances and benefits based on payroll dollars. The current employee at $12.00 will cost over $6,240 more a year and so on.
For the average 10 employee business the increase is estimated to cost well over $30,000 in wages, benefits and inflationary increases in just the first year.
Doing this in such a reckless manner will put thousands of people out of jobs or push them under the table and will cause the middle class to shoulder the burden yet again.
Some think this can’t pass, think again, our downstate representatives want it and they have the votes…. take the time to write your NYS Legislators and voice your opinion before it is too late.