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:
Carl Allen These people who never owned a small business have no concept of reality or how much money and work must be invested to be successful.
Matthew Farabee Please tell us about all the successes of Socialism. Let’s just say we won’t be holding our collective breath…because it always fails, and for good reason. The latest victim in Valenzuela. Why don’t you move there are find out how Socialism ‘works’ for the common man.
Paul Krause so every other time we raised the minimum wage why did are economy crash?
Paul paul paul. You live in a bubble of happy capitalism where everyone makes the right amount and no one is greedy.
Sadly thats not how it works in the real world. Large corperations such as walmart or any large chains can absorbe costs much easier and can push out small business with buying power. By doing so they create an almost monopolized job market. Then they can pay how ever little they can
I’m so amazed that everyone is a professional econmist. I’m just stating an opinion and obviously others are also…….
Tony Geis What the business owners earn is none of your damned business. You don’t pay unskilled workers $15 per hour when the market dictates they be paid $8 per hour (or whatever). I doubt shops in major metro areas can find workers who will work for $8 per hour, but there are plenty of small town businesses that can. It’s supply and demand, something you appear to know very little about.
Opinions based on illogical thought. You really aren’t that smart and blaming ‘greed’ is Socialism, something we don’t need here. I want America to succeed, not fail.
To add to Matt’s comment, the more you charge for something, the less of it you will sell. If I owned a coffee shop (I actually did for 9 years) and was forced to pay $15 to the kids working for me, I would likely have to double the price of a 12 ounce coffee from $1.50 to $3.00 for a 12 ounce cup. How many people are going to buy my coffee? They will make it at home since it’s much cheaper. Now I will lose sales and have to layoff those kids or, even worse, close my doors, all thanks to the government mandating what I pay my employees. We have a diverse economy in the US and small town mom and pop shops simply cannot afford to pay kids that much, so they will simply shut their doors.
If capitalism doesn’t change it will do this country in. Nothing makes you or me any more or less intelligent than the other.
I always wonder why whenever anyone mentions greed it gets called “socialist” thinking which is a total cop out. I’m all for capitalism but I recognise that greed is going to kill capitalism. It’s happening right now. The middle class is going away and big business is doing NOTHING to stop it. Prices go up, wages don’t. The middle class fuels the economy. What is gonna happen when their is no middle class? We become Mexico……..