Posted on 05/15/2016 8:59:32 PM PDT by Jim W N
Overregulation: Carl’s Jr. and Hardee’s CEO Andy Puzder has people all in a huff over his idea to automate restaurants. But why be upset with Puzder? This is an inevitable consequence of massive minimum wage hikes by the government.
“With government driving up the cost of labor, it’s driving down the number of jobs,” said Puzder. “You’re going to see automation not just in airports and grocery stores, but in restaurants.”
He’s right. That’s why whenever the minimum wage rises above the market-set prevailing wage, jobs are destroyed. Who would pay someone $15 an hour to do a job that’s worth less than that? No one.
This isn’t rocket science or even advanced economics. It’s plain common sense — something that populist demagogues on the left seem to be missing entirely.
Consider:
IBD’s Jed Graham surveyed six big U.S. cities that hiked the minimum wage in 2015 and found they took a serious jobs hit. “Wherever cities implemented big minimum-wage hikes to $10 an hour or more last year, the latest data through December show that job creation downshifted to the slowest pace in at least five years,” Graham wrote.
American Enterprise Institute looked at Seattle’s recent minimum wage hike. After it began phasing in a series of hikes in 2014, Seattle lost 10,000 jobs between September and November, and the unemployment rate jumped a full percentage point. As AEI economist Mark Perry notes, Seattle’s minimum wage hike from $9.32 to $15 an hour amounts to a $11,360 tax on every minimum wage job.
A 2014 Congressional Budget Office study estimated that raising the federal minimum wage from $7.25 an hour to just $10.10 an hour would kill half a million jobs. Worst of all, those who suffer most are the young, minorities and those with little education or training.
(Excerpt) Read more at investors.com ...
What needs to happen is quit describing the problem and start identifying and attacking the CAUSE of the problem which is the federal government and things like federal-government-forced minimum wage.>>>> every useless regulation by the feds and states and locals are a tariff.
https://www.wired.com/2015/05/worlds-first-self-driving-semi-truck-hits-road/
The World’s First Self-Driving Semi-Truck Hits the Road
So it looks like Carls Jr. is going to save billions on labor. I can’t wait until they cut all the prices and pass along those big saving to the consumers.
BWAHAHAHAHA! Oh man that was hilarious!
Because it wasn't posted on FR by IBD editorial writer.
When the guy who gave the presentation asked for a show of hands to see who in the room thought this would work, every hand went up except one -- mine.
That was almost 25 years ago.
I'm thinking we're always going to be 25 years away from practical applications of these things. And it has nothing to do with technology, either. As I pointed out above, we've had the technology to do this for decades. It's all about cost, regulation, and legal ramifications of the whole paradigm of "self-driving" cars.
I noticed a lot of comic slaps at the coin machinery culture. Everything, including the mirrors in the restroom required coins to access and there was a automated tip box on the wall of a coin operated food dispenser. Loved the interludes and remembered the days when restrooms had the coin locks on them....
You got that right.
Not far from where I live, a new McDonald’s is going up to replace the one on the same property and it will not be suprising if it goes automated.
...so it could be hijacked into an all caps rant about tariffs.
I was gonna go with "colony."
Wendy’s announced they were making the move in their corporate stores and would leave it to franchise owners to decide themselves.
The left just keeps recycling the same bad ideas each time they get a new generation that hasn’t seen the fail.
>>Boy do we need some remedial economic refresher courses around here.
The rules of economics need to be rewritten. A refresher course only reteaches the same cliche-ridden stuff that ignores the reality of globalism as a driving force for socialism in developed nations.
Tariffs put more pressure to do something about those regulations and taxes. Shut the relief valve and let her blow.
Let me try to educate you. The USA from 1789 to 1913 had no income taxes with the temporary exception of 1863-65 in the North. The federal government was funded entirely on tariffs an other user fees. The USA became an economic super power house under that taxation system for 125 years until the disastrous 16th amendment came along. NOW YOU KNOW.
The benefits of protectionism:
-repatriation of industry
-general increase in economic activity
-decreasing or no trade deficits
-balanced Federal budgets
-higher levels of baseline employment
-less social stress
-less political will for socialism
-increased national security
-raising interest rate will not crater the economy
The Republican party was historically the protectionist party an IMO needs to return to its pro tariff roots.
Never been to either : Carl’s Jr. and Hardee’s for any reason.
You are correct but the E Trogs (Economic Troglodytes) insist tariffs cause jobs and are demanded by the ghosts of the founders
with a $15 minimum wage and $7.00, you can get a cup of coffee
Well, all I know is that if I go to McDonalds five times, they’ll screw up my order four. If a machine makes sure I’m getting the sausage biscuit with egg I ordered instead of a sausage biscuit I didn’t order, I say automate-up!
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.