Of course this will eliminate poverty wages because it’s designed to kill businesses, therefore there will technically be no poverty wages. Even college finance students know wage hikes have to be covered somehow otherwise the business is liquidated.
The city of Los Angeles ruled to hike the minimum wages by 30% in less than 5 years, a move rendering local businesses less competitive and sustainable, while benefitting unions, illegal aliens and governmental bureaucrats.
Kristian Rouz – On Saturday, the mayor of Los Angeles Eric Garcetti enacted the law, authorizing an increase in the city’s minimum wage from the current $9/hr to $15/hr by the year 2020.
In a long-term perspective, such a move has potentially hazardous consequences, possibly undermining the economic competitiveness of LA-based enterprises, and disrupting business activity in the city. Continue reading