Quote:
Originally Posted by eweissenbach
According to the article I linked from the Seattle Times, the cost of restaurant food rose 2-3% in cities where the minimum wage was raised. Even at 5% the cost of a Happy Meal may go from $4.00 to $4.20. This is Econ 101 stuff.
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Also according to that article…
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“When talking about a $15 minimum wage, you’re going to a level that’s somewhat unprecedented,” said Michael Saltsman, research director for the Employment Policies Institute, which is partially funded by the restaurant industry.
“A 60 percent increase in labor costs doesn’t just wipe out profits at a typical restaurant, it wipes them out four times over,” he said.
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Again I ask you… if $15 per hour minimum wage will have no impact, why not raise it to $50 or even $100 per hour? Why keep these hard-working people oppressed? Why not just legislate them solidly into the middle class?
Can't wait to hear your Econ 101 reasoning…
