St. Louis will drop minimum wage from $10 to $7.70.

[Jon-Erich]

TallSilhouette said:

Jon-Erich said:

So by your logic, poor people should never start a business. Unless you're someone who already has large sums of money, chances are, you'll need a loan from a bank to start your business and since you're nobody, the bank will only be willing to loan you so much money. As a result, you would have to start off small and you would be unable to pay your employees a lot of money until the business took off. 

Going by your logic, the only people who deserve to be in business are rich people who can easily afford these wages. Going by your logic, the economy should be set up in a way where the rich people run all the businesses while all the poor people should only work to make the rich people even richer. 

I'm not sure if this is what you intended to say, but it sure sounds like it.

Poor people should never run a business larger than they can afford to properly support. You can be a business of one. If you're starting out and can't afford full time employees with livable wages, do the work yourself and don't hire others until you can. If you can't get the proper loan yet but really need the extra hands, hire part timers and odd jobs to supplement, but not replace. If you really expect others to fully committ to getting your business off the ground without proper compensation, they deserve a percentage of the company. If you're unwilling to do any of those things, you don't deserve to be in business.

Unless your business involves running a youtube channel of being a web designer or something you could actually do on your own, that's impossible. You can't run a restaurant on your own. You simply cannot. In fact, with the restaurant business, you're probably going to lose money for the first two or three years before it takes off, if it takes off. In a small retail establishment, it may not be impossible to run it on your own, but still very difficult. 

What you're proposing just isn't economucally feesable, especially since some of the business owners can't even pay themselves a living wage. Also, under a business plan such as yours, all of your entrepreneurs would end up moving to the south since living expenses are far cheaper than the north or west coast.