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:
So let them raise prices.
And when people stop eating there and start eating at a place that pays a livable wage. They will go out of business.
Yet so many do not understand that. Every cost of business increase is passed on to the consumer! Income has to exceed expenditures and most business have a % or profit quota and if they do not meet that, chain restaurants will close. Bob Evans recently closed several restaurants with no warning.
And, minimum wage was never meant to support a family; minimum wage jobs usually only offer part time jobs and no benefits; meant for retirees, high school & college kids.
Go read an economics book before posting such ignorance
Every economics book on the planet proves he is wrong
And economics and reality prove him to be wrong.
Gee, you mean the money for these raises doesn’t come out of midair?
Self inflicted pain
So you raise the minimum wage now companies have to raise their prices to a point that people won’t be able to purchase their product what have you gained