Current Events > Why do big corporations oppose minimum wage increases?

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They can afford it. Small businesses have a much better time affording it and I would think they'd like the increased potential of those businesses going belly up.

theyre just meanies

Because it would look worse on quarterly reports

Because then profit go down

less money for them and shareholders even tho they literally never made more money than they did during the pandemic and still are price gouging

MysteryMan923 posted...

They can afford it. Small businesses have a much better time affording it and I would think they'd like the increased potential of those businesses going belly up.

Because they'd prefer they didn't have to pay us at all.

Too much of their beautiful money wasted on the peasants.

You know why

why do you think the republicans oppose a min wage to give more money to billionaires

They like watching a number go up. The number may already be way bigger than they could ever need it to be, but they still enjoy watching it go up faster, and if they pay people more, it won't go up as fast and that feel good hit of seeing number go up won't feel as good.

So, like 60 years ago, companies would have given raises and bonuses to employees, cuz otherwise, they'd have been taxed at a higher rate, for their profits.

After the Reagan and subsequent tax cuts, there's really no penalty for companies just passing profits along to the executives, so that's what they do. So, companies make more money, and so do the executives and shareholders, so why would they stop?

Cause "line must go up".

Anything involving employees they see as an expense before they see a person and corporations, capitalism in general, is always seeking to reduce expenses.

Depends on the corporations. Not all their net profits are enough to afford a large raise in wages.

Having to direct more money into payroll reduces their profit numbers. Yes they can absolutely afford it, but they don't wanna. They'd rather raise prices for their goods and services to cover how much it cuts into their numbers.

Because labor is a expense to buisness, not a profit. Business cut labor to boost profits, pass Labor costs to government and society to fix these problem. They don't have to care or worry about their employees can't pay for houses, because it's not thier problem. Shareholder Value, Board of Director basically ignore modern employees problems.
https://www.aljazeera.com/economy/2023/5/17/is-shareholder-supremacy-driving-the-layoffs-in-tech
https://www.linkedin.com/pulse/maximizing-shareholder-value-killing-us-theres-better-tom-cox-mba

Because the more money they pay their workers, the less money that goes to the shareholders, and they can't have that.