Loading ... Well, in my area we have lots of closed up businesses.
Because the rents are too high. Why are the rents too high?
The property taxers are too high. Why are the property taxes so high? Because public employees get paid way too much, far far higher than minimum wages, in pay and benefits.
You will NEVER hear in the gov’t media….”We can’t give raises to school teachers, police, the highway dept, the librarian, because it will raise property taxes of businesses, raise rents, kill profits, close stores and will kill jobs.”
Another response to higher minimum wage….”Oh geez, a McDonalds meal will cost too much and nobody will buy them”. Well guess what? McDonalds is somewhat expensive these days around here because of the high rents.
The other day I inquired about a commercial property for sale. It had an Italian restaurant, a Chinese food thing, convenience store and an apartment upstairs. Two stores are VACANT. Gee, I wonder why? Property taxes $59,000.
http://www.showcase.com/property/2514-2520-Merrick-Road/Bellmore/New-York/6484127
P.S. Higher Minimum wages would raise all other wages to stay “in scale” and more people would be able to pay taxes and spend more money and keep the stores open.