For Subscribers

Letters

<B></B>

Re: Your October article on the proposed minimum wage hike("Business Beat"): The feds are going to do it to usagain. The economy cannot take a big hike ($4.25 to $5.15 is anincrease of over 21 percent).

If some employees get an increase of 21 percent, unions andother employees will say, "Hey, me too!" As overheadrises, the price of the product you sell must also rise. This iscalled inflation. It won't take long to wipe out the increasedbuying power of the dollar they just gave them.

Continue reading this article — and all of our other premium content with Entrepreneur+

For just $5, you can get unlimited access to all Entrepreneur’s premium content. You’ll find:

  • Digestible insight on how to be a better entrepreneur and leader
  • Lessons for starting and growing a business from our expert network of CEOs and founders
  • Meaningful content to help you make sharper decisions
  • Business and life hacks to help you stay ahead of the curve
Join Now Log In

Related Topics

Magazine Entrepreneur Magazine

Editor's Pick

Everyone Wants to Get Close to Their Favorite Artist. Here's the Technology Making It a Reality — But Better.
The Highest-Paid, Highest-Profile People in Every Field Know This Communication Strategy
After Early Rejection From Publishers, This Author Self-Published Her Book and Sold More Than 500,000 Copies. Here's How She Did It.
6 Questions to Ask Before You Begin Your Franchise Search
Having Trouble Speaking Up in Meetings? Try This Strategy.
He Names Brands for Amazon, Meta and Forever 21, and Says This Is the Big Blank Space in the Naming Game

Most Popular

See all
Growing a Business

This $150 Lifetime Subscription Could Help Your Business Make International Connections

Train your employees with this subscription to Babbel and be ready for international deals.

By Entrepreneur Store

Growing a Business

Build a Good Relationship With Suppliers

They're your hidden growth assets. Follow these four tips to become a valued customer.

By Bob Reiss

Business News

A Mississippi News Anchor Is Under Fire for Quoting Snoop Dogg

WLBT's Barbara Bassett used the rapper's "fo shizzle" phrase during a live broadcast, causing the station to let her go.

By Jonathan Small

Growing a Business

This Co-Founder Was Kicked Out of Retailers for Pitching a 'Taboo' Beauty Product. Now, Her Multi-Million-Dollar Company Sells It for More Than $20 an Ounce.

Childhood friends and Harvard grads Laura Schubert and Lillian Tung launched Fur to address the problem no one was talking about.

By Amanda Breen

Life Hacks

Use These Words and Gestures to Impress Your Boss

While you don't want to be suck-up, impressing your boss can open the door to endless professional opportunities.

By John Rampton

Thought Leaders

Unlocking Financial Abundance: How Positive Psychology Can Make You a Multimillionaire

Individuals can become multimillionaires by cultivating positive emotions, mindset, gratitude, self-confidence, strong relationships, mindfulness and purpose. By applying these principles, individuals can increase their overall well-being and financial success in their personal and professional life.

By Brian H. Robb