(Albany, New York, July 22, 2015) The NYS board appointed by the Governor of New York State has approved a recommendation to increase the Minimum wage for fast food workers to 15 dollars an hour, to be phased in over time. The board was appointed by Governor Cuomo after the republican led state senate refused to consider a raise in the minimum wage earlier in the year. New York is one of a handful of states whose governors have the ability to raise minimum wage without legislative approval. The recommendation is expected to be approved by acting state commissioner of labor Mario Musolino, and then signed into law by Governor Cuomo. Once passed, this would mean a raise for over 70 % of the workers making minimum wage in the state (180,000 employees). The details of the proposal include a phased in minimum wage of 15 dollars an hour in New York City by 2018, and in the rest of the state by 2021. This law only affects Fast Food Chains that have 30 or more locations across the United States.
Well, Gates scored 1590 out of 1600 on his SATs and dproped out of Harvard, which means he’s so brilliant AND a shrewd businessman that he didn’t need the degree from Harvard. He certainly could have completed it if he wanted to, but he had better ideas. So it depends on the type of business you want to start, and it also depends on how much backing you can get for it. If you’re going to build a business that designs operating systems, you’d better be really educated in computer science and math. Technical subjects like that require technical knowledge, which must be learned. Even Gates didn’t just hack into a TRS-80 one day and figure out how to write code out of the blue. If you’ve got the capital to HIRE people like that from the git go, then it’s a different story.But if you’re starting a business in something like agriculture or industry, for example, and you have knowledge of it, then no you don’t need higher education.I would get the multi-million dollar revenue dollar signs out of your eyes. Building a company from ground up to that point often takes decades. The secret to building a good business (beyond luck) is by first having a really good idea. What do you got that’s better than your competitor? How can you get people to buy your product or service? As a business founder, it’s your IDEA, and your passion for the idea, that are most important. You then have to decide how much you know about the subject, if you are willing to learn what is required if you have to, and whether or not you should create a partnership or hire employees that DO know. But that can be risky at first. You have to work with people you trust. And to gross multi-millions someday, you will definitely be a corporation that has quite a few people on the payroll. Was this answer helpful?
It can be a reasonable stgaiertc decision for a country to raise minimum wages in order to force low wage jobs overseas and to encourage the development of higher wage jobs. Probably in god economies this wil work if it is a bad economy it is likely to at least cause temporary hardship for the poor (ie becoming unemployed).Problem is – politically – you cant change it up and down all the time.