Wednesday, May 9, 2012

Illinois attacks its own economy again with "good" intentions.  SB 1565 Minimum Wage Hike will phase in a rise in the minimum wage to $10.65 an hour.  The new law removes exemptions for a 50 cent lower rate during the first 90 days as well as a 50 cent lower rate for teens under 18.   What could be wrong with helping low paying people get a raise?  Problem is small businesses will get the greatest pressure from this added cost burden and will result in more jobs lost.   At a time when we're trying to "create" more jobs, our legislature is contemplating putting more pressure on existing jobs.  Just one more example of why you don't want to have employees if you're trying to start a business.

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