Letters <B></B>

May 31, 2000

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+

Join the internet’s leading entrepreneur community! With your subscription you’ll get:

Access to all of our premium content and an ad-free experience
A complimentary subscription to Entrepreneur Magazine
Four free e-books a year and 20% off everything from our bookstore
Exclusive events with business celebrities and successful entrepreneurs

Subscribe Now Log In

Editor's Pick

She's Been Coding Since Age 7 and Presented Her Life-Saving App to Tim Cook Last Year. Now 17, She's on Track to Solve Even Bigger Problems.

I Helped Grow 4 Unicorns Over 10 Years That Generated $18 Billion in Online Revenues. Here's What I've Learned.

Want to Break Bad Habits and Supercharge Your Business? Use This Technique.

Franchise Ownership Made Easy: Best Practices for Managing and Growing Your Business

Don't Have Any Clients But Need Customer Testimonials? Follow These 3 Tricks To Boost Your Rep.

Why Are Some Wines More Expensive Than Others? A Top Winemaker Gives a Full-Bodied Explanation.

Most Popular

See all

Marketing

The Rise of Nano-Influencers: How the Smallest Voices are Making the Biggest Impact

The bigger an influencer is, the more beneficial it is for a brand to collaborate with them, right? Not necessarily.

By Yauhen Razhko

Fundraising

Working Remote? These Are the Biggest Dos and Don'ts of Video Conferencing

As more and more businesses go remote, these are ways to be more effective and efficient on conference calls.

By Bryan Lovgren

Growing a Business

The Best Way to Run a Business Meeting

All too often, meetings run longer than they should and fail to keep attendees engaged. Here's how to run a meeting the right way.

By Jacqueline Whitmore

Management

Which Hiring Strategy Is Right for Your Startup? My Experience Says This One

Startup businesses face a unique environment when it comes to adding the talent it needs during their earliest stages of operations, and every hiring decision is critically important to get right the first time.