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 always wondered if raising the minimum has absolutely no bad side affects, why do the do it in small increments? Why not just instantly raise it to $12.00 or $15.00 an hour? Could it be that thaere really are bad results? But the “experts” say there are none.
You can’t honestly have a discussion about raising minimum wage unless you also include how much the business owners are taking home before and after adjustments.
Gee… didn’t see this one coming! What do people really think is going to happen if they increase the wages?? Companies aren’t just going to eat the loss for the “greater good”.
You “sky is falling” conservatives just won’t quit on this will you? Look chicken little, your little fear fantasy has been proved wrong by real life time and time again. Everytime the min wage is taised, the media trots out you so called experts with your 2nd grade understanding of economics so you can parrot the same old campfire ghost tale. Sorry but the story is old, wasn’t scary in the first place and is obviously limited to existing in your mind.
Grow up. Take some economics classes too.
You guys just don’t understand economics or math for that matter. Bravo to Matthew who is the only one capable of logic apparently.
The min wage wasn’t designed to be a living wage? Please enlighten me to its purpose with your vast historical knowledge.
Yes it was. And it should be. And claiming that raising the min wage drives inflation is a demonstration of your complete and thorough economic ignorance.
My suggestion; learn before you comment
Fallacious logic. False dichotomy. Major lack of understanding of economics.
Really? How do NFPs and non profits stay in business then? Oversimplification of complex issues never works. Unless your just scared and hoping to scare others
Cart before the horse much? Inflation does not occur because of wage increases. Where did you “learn” economics? Inflation in the US is constant, desired and intentionally planned by the fed. The target is 4% and when we don’t meet that target they say the economy is weak.
Inflation always happens. This is why millions of workers receive “cost of living” raises every year. If you don’t raise the minimum wage to match inflation you are effectively docking those works pay by the inflation rate each year.
The smartest economic thing to do would be to tie min wage to the inflation rate. Problem solved
Becuse I have owned and ran a business before. I met payrolls, overhead costs and paid a multitude of local, state and federal taxes. No matter how you figure 2+2 = 4. And that’s pretty simple to me.