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:
Cost here went up about 25% and minimum wage never changed. Why don’t they pay the CEO minimum wage? They should just take everyone that thinks minimum wage is great and start paying them that amount. Remember it will help everyone.
Hey Einstein, you are filling the gap with food stamps and Medicaid anyway. You are willing to subsidize McDonalds workforce and make their shareholders rich just so you can feel a class above the person who makes lunch and serves assholes all day. That my friend, is the true definition of stupid.
Jon Arnold, if the company Supplying the products to these companies has to raise wages, the product will in fact cost that business more.
Minimum wage jobs aren’t ment to raise a family how lame can you be, when I started working I was was making 4.50, that y you do a good job and climb the ladder or find a better job
There are only so many CEO jobs in America. All the manufacturing jobs have left the country. I started out working minimum wage and sometimes even less. I have a better paying job now and I still hear how our costs are too much. There is always someone making millions complaining how someone making $15,000 a year is the problem. If all the manufacturing jobs came back I wonder what they would be willing to pay a person when they couldn’t find anyone. They sure aren’t going to be the ones doing the work. Still wondering why the price of my shoes didn’t go down to $5 a pair when they moved to China and spent 3 cents to make each pair. Sears just quit making their tools in the U.S., but the price didn’t change even though they saved a bunch by shipping manufacturing overseas. It isn’t that they can’t afford to pay, it is that they won’t make a killing. I know a guy who has an auto repair shop that only pays $10 an hour, but charges $60 an hour for labor. Other shops pay $20 an hour, but still charge the same $60 an hour for labor. What is the difference? Greed.
The difference is overhead. The guy with the small shop probably has much less work than the big shop. That would put his operating costs much higher, as a percentage of sales, than the big shop. I am a small business owner and have had that problem in the past the only way to get out of it is to grow, or cut overhead, thus lower wages. You probably think the guy is greedy when actually he is just trying to stay in business. I pay my employees as much as I can up to 25% of sales. That means I can retain good employees but my labor costs are higher than most similar businesses in my category. It 8s not always greed, sometimes in small businesses in particular it’s just about staying alive. Secondly, I have never heard a rich business owner saying the guy making the lowest pay is the problem. Many times it is regulation that kills profit and that greatly effects what employers can/will pay. Now there are exceptions, I know a couple douchbag owners that pay as little as possible, but they always have massive turnover and create their own problems because of it. A 15/ hr minimum wage is stupid! It puts undue burden on prices to the consumer and actually will cut employment in the long run. Now those low wage workers will not be able to find a job because they just are not worth that much per hour! The solution is get some education, have some drive, set goals. You don’t need to be smart if you have determination.
Jon Arnold, you assume only the end company deals with minimum wage…lets not forget the ranchers, butchers, delivery people, laborers, etc that deal with the meat you reference prior to the end product
Shane Carr Yeah back when it was LOW, YOU FUCKING IDIOT. No one here understands inflation? Really? Dope. Just what I was looking for in an argument on economics. A lack of knowledge in elemental economic principals.
For the exact reason you just said. Why is everyone else losing money somehow more acceptable to you than people with no skills having no money? It’s absolutely backwards.
Ok, you’re an idiot. Why don’t you not be a fucking loser and make more money?
Because it is for the great good of society. I’m not losing money to these people. I will have a choice to spent my money on that product