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Economist: $15 Minimum Wage Hurts Workers

Mac Slavo
November 21st, 2019
SHTFplan.com
Comments (6)

It’s a classic case of good intentions gone awry says Micahel Saltsman of the $15 minimum wage hikes. The increase in the minimum wage is resulting in fewer restaurants and fewer jobs said Saltsman, who is the managing director at the Employment Policies Institute.

Labor unions and their allies are cheering the policy change, but the evidence shows unreasonable wage floors are no cause for celebration. They are, in fact, destroying restaurant scenes in some of the best-known dining towns from coast to coast.

Just this week in Sacramento, popular Greek restaurant Opa! Opa! announced it would close its doors after 14 years in business, citing the city’s rapidly-rising minimum wage as the determining factor. More than a dozen employees will lose jobs right before Christmas, according to a report by Fox Business. The owner explained that prices were up 53 percent since he opened his door, and all it did was reduce his customer counts.

“Payroll Tsunami”: Small Businesses Layoff Workers To Comply With Minimum Wage Law

In New York City, Larry Georgeton, the former owner of the now-closed Del Rio Diner in Brooklyn, was frank: “The [$15] minimum wage, that’s what broke the camel’s back. It killed us.” He explained that his working-class clientele could not shoulder the price hikes necessary to offset the minimum wage increase, so he was forced to close down the business.

And are far from isolated events. In fact, restaurant closures are outpacing openings by a wide margin, while in some areas, like San Francisco, the city’s hostile business environment has small businesses “at a breaking point.” Golden Gate Restaurant Association member Laurie Thomas points to data from YELP that shows “restaurant closures [in the city] have begun to outpace openings by nine percent.” One business owner was blunt: “Just opening or trying to adapt your business [in San Francisco] … it puts the Soviet Union to shame.”

If restaurants can raise prices enough to stay open, they have to also trim costs, and that means laying off workers.

Socialist Bernie Sanders SCHOOLED By A Quick Lesson On Minimum Wage

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Author: Mac Slavo
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Date: November 21st, 2019
Website: www.SHTFplan.com

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6 Comments...

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  1. cranerigger says:

    Why can’t snowflakes figure out that if you raise overhead & labor costs, your reason (profit) for being in business disappears? This simple concept also leads us to the need for people to improve their EMPLOYABILITY by learning skills in a trade school or university that will make themselves more VALUABLE employees.

  2. Anybody here up for “Medicare for all”.

    Woopi

    We’s all gonna be rich !!!!

    .

  3. Clown World says:

    People with sinecures and stipends, whoring for corporate welfare, always say that hard labor is not a real job, with some kind of religious conviction.

    “In the sweat of thy face shalt thou eat bread, till thou return unto the ground; for out of it wast thou taken: for dust thou art, and unto dust shalt thou return.” — Gen 3:19

    “…if any would not work, neither should he eat.”– 2 Thess 3:10

    Old Testament ‘Laws of Fairness’ (Between how many times you can whip a person, ethically, and when is the moral time to impregnate your brother’s wife.) “Thou shalt not muzzle the ox when he treadeth out the corn.” — Deut 25:4

    Are you allowed to eat the inventory?

    They’re not going to retain you at any rate, no matter how low, unless you’re a replacement demographic or were a ward of the state, in the public record.

    Noone in consensus reality believes in such a thing as “intangibles”; that kind of employer is skimming subsidies and has become uneasy, when he see it’s wearing thin.

  4. Khemp says:

    Are restaurants the only minimum wage employees?

  5. Clown World says:

    Prospective employers, see work release programs and crisis houses, if you need a live body at your labor post, but refuse to cover life support.

    Quit listing your slave labor position, in public, and telling for-real applicants that it’s a stepping stone.

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