Liberals subscribe to magical thinking, believing that free college tuition and free health care to illegals will somehow end up a net win for the public. But reality often intrudes on this magical thinking like a big pimple on the end of your nose, and it is painful and unsightly. In this case, the laws of economics are intruding into the magical thinking of liberal politicians in San Francisco (as if there were any other kind there), and it is a growing problem.
San Francisco has declared that the minimum wage in the city, now being replicated in several other fact-challenged cities, will rise to $15 by 2018, and polls there predict happy, better-paid workers who will finally have a “living wage.” They have also insisted that this will not increase inflation and that it will be a boon to the minimum wage worker. That is a lie. And the impact is just now showing up as the first mandated rise from $10.74 to $12.25 is being implemented by certain retailers.
See who is raising prices in San Francisco, page 2:
I look down on companies who look after their stock holders and higher ups while shitting on the people who do the work for them.
You dont need to be a publicly traded company to make money.
Greed is celebrated in our modern economy when it use to be looked at as a bad thing when our country was its strongest.
Look back to the 50-70s before Reagan we had an “excessive wealth” tax of 70%+ on income over 450k. Now if you talk about taxing income over 10 million 50% its scary SOCIALISM!!
Every business will raise their prices to compensate or cut service or labor. Its that simple. If labor costs go up do you really think that the business will just eat that cost? Think again. Would you if it was your business? Are you willing to take a 10 to 14 percent cut in your pay? Your boss may tell you you have to in order to pay others their 15 bucks an hour. Again…….cause and effect. Action……..opposite but equal reaction. What goes up? Must come down.
We by bulk. Places like BJs/ costco. We shop once every two weeks.
Chris your a moron son. Your a sheep
Ray Hammond that whole thing you just said was asinine. This nation and our way of life is built on slave labor and Capitalism over socialism creates an environment for legal slavery.
Social stability and survivability of the people should always be placed above that of the corporations. You are the sheep and it is funny you have been so brainwashed you believe the opposite. You are the modern equivalent of a house slave.
Economics 101…. To stay in business you must maintain a specific profit margin. Through sales or overhead. And therein comes the balancing act.
You can be sure that some restaurant chains will not raise prices hoping to gain customers from the chains that have raised prices. The increased sales will boost profits in spite of the smaller margin.
…if people read the article this meme links to they’ll find out that they’re being misled. I’ll do a quick cut and paste, since Truth And Action knows all too well that people won’t read the actual article itself.
” In our weekly survey of ten of Chipotle’s markets, we found the company implemented price increases in half of the surveyed markets this week—San Francisco, Denver, Minneapolis, Chicago, and Orlando. In most markets, the price increases have been limited to beef and average about 4% on barbacoa and steak, toward the lower end of management’s expectation for a 4% to 6% price increase on beef.
• San Francisco, however, saw across-the-board price increases averaging over 10%, including 10% increases on chicken, carnitas (pork), sofritas (tofu), and vegetarian entrees along with a 14% increase on steak and barbacoa.We believe the outsized San Francisco price hike was likely because of increased minimum wages (which rose by 14% from $10.74 per hour to $12.25 on May 1) as well as scheduled minimum wage increases in future years (to $13 next year, $14 in 2017, and $15 in 2018).”
CEO of McDonalds makes $9,000 an hour