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 $12.25 is being implemented by certain retailers.
See who is raising prices in San Francisco, page 2:
Great article. It gives all the facts.
Except if everyone had an education, we’d still need people to do these jobs. Only nobody would want to because they went to college. These jobs don’t exist because workers aren’t skilled or educated. These jobs exist because they exist, you can just do them without an education
There in lies the reality of the problem. You have a choice to spend your money on the product. When it gets to high, you will choose to not buy the product, which will eventually lead to closing businesses or less workers. because you will not be the only person to refuse to pay the higher price.
I NEVER said anything about 15$ an hour….it needs to be more than 7.25$…….
So instead of 3 billion in profit they are making 2.95 billion in profit…..they can still afford to pay people at the bottom more…….
Chuck although I do question how accurate your stats are you and others seem to forget one thing. If you raise entry level 14% what about the guy who has been working and already makes 14% over entry level? He has been working for advancement and now he is back to entry. Give him 14% and now the next level is equal. After every working level is given a raise you are now just where it started with entry not making enough money. Folks should not think they can start above the bottom line. Work and study (college or job training) is the way to move up.
These jobs exist because the employer thought the economics was there to make a large enough return to warrent the risk of losing what he put into it.
That implies Americans manage their money wisely which as a whole we don’t. I would rather business owners pay their employees than our tax dollars subsidizing them.
Chipotle is not doing well right now ???ots time to close the doors…SHM now those guys will be at the unemployment line…
Of course “work and training ” is the way to move up….does not change the fact that some full time workers don’t get paid enough to feed clothe and house themselves. And that not even the intent of minimum wage laws…the intent is to “to provide the means of a decent living “…..