Small business and franchises will be unable to afford more employees. Lemmy thinks these business owners are all rich. No, they can't just hire more people.

Dug around one night looking at McDonald's and franchising. You can expect a meager $50K your first year, $90K after that. No way in hell I'm putting in the hours and hassle of running a business, with a couple of dozen employees to care for, when I was making $83K sitting at home playing sysadmin. BTW, that $90K doesn't include accounting and payroll, you on your own.

Min wage here is $15, so the employer cost is likely around $22. Even if the owner takes $0 pay, they could hire a whopping 2 employees.

Landlords will jack the rates knowing that their renters will make more and more money. This law funnels money from Main Street to corporate landlords. They're punishing the good guys, incentivizing the bad guys, and minimum wage employees get squeezed from both ends.

SOURCE: Was a sysadmin for a payroll firm and was deeply involved in all aspects of the business. Most of our clients were not well off and paid minimum wage or close enough.

EDIT: Forgot to add; This is a revenue neutral law for the city. If they want more housing that's money out of the budget or tax incentives to builders, so less budget next year. Probably worth the temporary lower budget to get the community thriving and able to pay taxes. No idea on all that. 🤷🏻