Small Businesses Navigating Impending Minimum Wage Hikes
The Telegraph cites Senior Fellow Ryan Young on minimum wage hikes:
A study this month by the pro-limited-government think tank the Competitive Enterprise Institute argues that raising the wage would have consequences for workers and small businesses in ways the author, Ryan Young, believes have been under-discussed.
The study by Young, a senior fellow at the Competitive Enterprise Institute, offers three reasons for opposing the minimum wage hikes: the negative economic tradeoffs for low-wage workers are roughly equal to the benefits; large corporations with higher wages can use their ability to offer high wages against smaller businesses; and the hikes take the choices away from workers who may prefer pay in non-taxable forms, such as tips, insurance and discounts.