Would Raising Wages Actually Force Businesses to Close? In…
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Would Raising Wages Actually Force Businesses to Close?
In recent years I’ve heard of many companies claiming that raising wages will force them to shut down stores, or close up shop altogether. I’m not talking about small mom and pop businesses, but larger chains like Rubios, Starbucks, Target, Kohl’s, etc.
Is this true, or are companies just trying to protect their profits? Would large companies really go out of business if they needed to pay each of their employees $5-$10 more per hour? Is there any economic data to back this up or dispute it?
#business
In recent years I’ve heard of many companies claiming that raising wages will force them to shut down stores, or close up shop altogether. I’m not talking about small mom and pop businesses, but larger chains like Rubios, Starbucks, Target, Kohl’s, etc.
Is this true, or are companies just trying to protect their profits? Would large companies really go out of business if they needed to pay each of their employees $5-$10 more per hour? Is there any economic data to back this up or dispute it?
#business
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