Thursday, March 13, 2014

The Hidden Costs of a Minimum Wage Hike

In the future as states, cities, and the government raise their minimum wage, workers taxes increase. "The minimum wage increase is not just the dollar an hour, but it's also a raise in our taxes," said Jason Lerner of Little Learner Academy. In New Jersey the minimum wage rose from $7.25 to $8.25 on Jan. 1. This adds an extra 10.5% of taxes from the pay of workers and local businesses. Although this will affect workers and their pay, businesses say that it will not have a large affect on them.


http://money.cnn.com/2014/01/22/smallbusiness/minimum-wage-taxes/index.html?iid=SF_E_River

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