By Arthur Weinreb —— Bio and Archives--January 16, 2018
Economics is not an exact science. This is why President Harry Truman asked for a one-armed economist because he was tired of being told “on the one hand…, but on the other hand…” But it is basic Economics 101 that if a business’s costs increase, that business will end up raising its prices.
On Jan. 1, 2018, Ontario’s minimum wage increased from $11.60 an hour to $14 an hour, an increase of 21 percent. And this percentage does not include related increases employers must pay for contribution to their employees’ costs for Employment Insurance and the Canada Pension Plan. Also not included in the increase are other wage hikes employers will have to give their workers who made more than $11.60 an hour at the end of 2017 but less than the now minimum wage. This large increase is a disaster for the province.The Comment section of online publications is the new front in the ongoing Cancel Culture Battle.
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