The supply of agricultural products dropped while demand was relatively stable, and as a result, prices increased. This end result was advantageous for farmers who enjoyed a higher price for their product -- less so for the impoverished and hungry Americans who found food scarcer and less affordable.
The FF chains will either shut down or, more likely, invest in robots to replace 95% of their workforce.
The unemployment line is what $15/hr will get them.
Anything that upsets the status quo or political equilibrium works to the Marxists advantage.
Is this why the WalMarts are closing?
burger king has announced that we can all say goodbye to $1.00 hamburger specials, and hello to $10 dollar basic hamburgers thanks to these greedy folks who are hell bent on ruining it for everyone
Look for massive layoffs, and massive food and energy price increases- look for huge price increases on EVERYTHING. Apparently these idiots won’t be happy until the whole damn country is waiting in soup lines and living in cardboard boxes- Gee- can’t wait to become a third world country afte4r all this icky progress we’ve made in recent years!
The higher the minimum wage goes, the fewer jobs available.
Thousands of jobs that were once available for those with minimum education or skills have been destroyed by minimum wag (and many of those that are left have been taken over by illegal aliens willing to work under the table bypassing the government regulations). This hurts American workers not help them.
Businesses are not social welfare offices. Anyone that is hired must generate at least what it cost to pay the worker (both in wages and benefits). If not the business has a few choices, raise prices, eliminate the job, close the business.
A $2.00 a hour maximum wage law would produce lots of new jobs.
Why not $50 and hour? $100 an hour? Why not just have the government print a million dollars for everyone?
I don’t demean any work. I worked hard as a restaurant short order cook when going to college. It is hot, fast work, and you either stay up or you sink. So, in terms of hard work based on the minutes of life that any person sinks into it, it’s just as occupying of those minutes as any other intense work. I’m glad there are folks there doing it.
Why should it pay less? Because of the market. There are more people able to step in and quickly learn it, because it’s low skilled work. So there are lots of people filling out applications. There are fewer filling out applications to be the guy on the scaffold cleaning windows on the 80th floor of skyscrapers. Who will make more? The guy who is doing something not as many are able or willing to be doing. That’s not saying that the minutes of either man’s life are worth more or less in the eyes of God. But in terms of what I can offer to see who will take it at that price, then I can offer less for the low skilled job and more likely find someone to accept that work at that price.
That’s what drives people to gain more skills, more education, more certifications, more licensures, etc. They are working to increase their market value by gaining skills that not as many people have.
In the long run, forcing high wages for low skills is the government short circuiting the system that drives people to gain unique skills that are good for a country and help make it prosperous. Would I rather be a skilled person in a nation of skilled people, or would I rather be king of a bunch of folks who’ve been intentionally held back? The first would be much more gratifying, and in the long run it would also be more secure.
Just like married to the federal whore. It never is about how much she spends or impedes business costing everybody their salary, it is about how much we get paid.
Minimum wage increase means less promotion salary and more taxes for government, notwithstanding that it is a direct form of worker taxing the business in redistribution.
The laws of labor supply and demand only work in a closed system. If the USA is to continue an open border policy then a minimum wage makes sense- I would say peg it to inflation based on 1968 dollars. The Chamber of Commerce can KMA.