Does AOC know $15 minimum wage in states like Mississippi will put people out of work?

[hadit]

View attachment 264072

A Heritage Foundation analysis from 2016 estimated that a $15 federal minimum wage would wipe out 7 million jobs. Hardest hit would be workers, businesses, and economies in areas with low costs of living. (like Mississippi where cost of living is 87% of USA standard.
Mississippi cost of living is 87.8% Mississippi Cost of Living

Liberal activists demand a “living wage,” but the truth is that only a tiny handful of hourly wage workers make the minimum wage or less (4 percent), according to the Employment Policies Institute. On the contrary, a whopping 44 percent of hourly workers currently earn at or below the proposed $15 minimum wage.

Now consider what the $15 minimum wage would do.

For a restaurant that employs 10 minimum wage workers, a $15 minimum wage hike would cost them about $170,000 per year. If the restaurant currently earns profit margins of 5 percent, it would have to increase sales by $3.5 million per year, or an extra $67,000 every week.

But that is not realistic. The likely scenario is that they’ll either have to cut working hours or fire some workers altogether. Either way, most people are worse off than before.

Lawmakers Are Pushing a $15 Minimum Wage. Here Are 3 Disastrous Consequences That Would Result.
Robotic waiters...

View attachment 264073

When workers have money to spend, they spend it and it makes the economy better. It’s so obvious I can’t understand why right wingers are so mystified.

the right wing, never gets it.

Why would they want to "get" a falsehood? Hey back to us when you get opportunity cost.

lol. nobody takes the right wing seriously about economics.

Why then do you complain about them so much?

 

[danielpalos]

View attachment 264072

A Heritage Foundation analysis from 2016 estimated that a $15 federal minimum wage would wipe out 7 million jobs. Hardest hit would be workers, businesses, and economies in areas with low costs of living. (like Mississippi where cost of living is 87% of USA standard.
Mississippi cost of living is 87.8% Mississippi Cost of Living

Liberal activists demand a “living wage,” but the truth is that only a tiny handful of hourly wage workers make the minimum wage or less (4 percent), according to the Employment Policies Institute. On the contrary, a whopping 44 percent of hourly workers currently earn at or below the proposed $15 minimum wage.

Now consider what the $15 minimum wage would do.

For a restaurant that employs 10 minimum wage workers, a $15 minimum wage hike would cost them about $170,000 per year. If the restaurant currently earns profit margins of 5 percent, it would have to increase sales by $3.5 million per year, or an extra $67,000 every week.

But that is not realistic. The likely scenario is that they’ll either have to cut working hours or fire some workers altogether. Either way, most people are worse off than before.

Lawmakers Are Pushing a $15 Minimum Wage. Here Are 3 Disastrous Consequences That Would Result.
Robotic waiters...

View attachment 264073

When workers have money to spend, they spend it and it makes the economy better. It’s so obvious I can’t understand why right wingers are so mystified.

the right wing, never gets it.

Why would they want to "get" a falsehood? Hey back to us when you get opportunity cost.

lol. nobody takes the right wing seriously about economics.

Why then do you complain about them so much?

because they claim they are right, simply Because they are on the right wing.

 

[healthmyths]

The major lack of understanding by $15 national minimum wage supporters is the employer is actually going to be paying MORE than the $15.00/hr. wage.

Most people don't realize an employer MATCHES employee's Social Security/Medicare payments...i.e. each pays 6.2% of total wages.

So for example a McDonalds with 15 minimum wage employees working 40 hours per week will cost the employer $241,800 more per year PLUS nearly $15,000 in additional SS/Medicare payments or nearly $256,000 more per year.

Now again... look at typical franchise operating expenses.

If the NET operating income BEFORE the $15 minimum wage was $153,900..
IT would be operating at a loss of $102,100!

Think the McDonald's franchise owner would:
A) consider letting some of the full time workers go?
B) replace them with robots?
C) Definitely raise the prices!
D) Close the business.
These are the realities the owners are to face if forced to pay a national minimum wage of $15.00.
Totally stupid when Mississippi operates at 80% of American cost of living versus New York at 140% where the minimum wage of $15 is not enough.
ONE SIZE does NOT FIT All 50 states folks!
View attachment 265300

we already know higher paid labor pays more in taxes; why would higher paid labor not also create more in demand?

But I'm pretty confident YOU like a vast majority of $15/miminum wage advocates didn't know the employer pays 6.2% of employee's pay in SS/Medicare which ADDS to the $15.00 / hour labor costs.

Labor costs can be expensed to reduce taxable income. The more labor costs, the more can be expensed.

Why do some companies not make a profit?

Hey quit showing your stupidity!
Please tell the franchise owner that was making a net profit BEFORE Taxes by the way of $153,900... and by increasing the pay to $15/hour the owner
now has NO taxes to pay PLUS owes $102,100!
How stupid must you be to think it is a "tax advantage"?

the higher cost of wages and benefits can be expensed to lower their tax burden.

You just don't get it do you?

You have to have a "profit" to stay in business!
READ this carefully.
NOTE at crew pay NOT at $15/hr the franchise owner makes a profit of $153,900.
BUT now do you comprehend this: If you increase the crew's pay to $15/hour that means the "crew's" pay is now at $540,000, THAT completely eliminates
any profit AND creates a loss of $102,100! Do you comprehend this?
A) You have to have a profit to pay taxes.
B) Double crew pay means NO PROFIT but a LOSS!

DO YOU comprehend that???

 

[hadit]

When workers have money to spend, they spend it and it makes the economy better. It’s so obvious I can’t understand why right wingers are so mystified.

the right wing, never gets it.

Why would they want to "get" a falsehood? Hey back to us when you get opportunity cost.

lol. nobody takes the right wing seriously about economics.

Why then do you complain about them so much?

because they claim they are right, simply Because they are on the right wing.

Apparently, you're taking them seriously.

 

[charwin95]

The problem with minimum wage is that it has been neglected for so long that the sizeable increase will give employers sticker shock

Tell me about it a hamburger basket in Colorado cost $12 bucks ( MW $11.25) the same one in South Carolina cost $8 bucks (MW $7.25)

What about the hamburger basket in Vegas that costs $30 bucks (MW $8.65)?

You do get that the prices of things in most of Vegas are nothing like the prices in the fucking casinos, right? No, probably not.

You can't buy a $30.00 burger basket off the strip? You sure?

btw; A large #1 double at Wendy's will cost you $10.05.....Off the strip.

Who the fuck goes to Vegas to eat a hamburger?

Only a broke ass guy like you, I remember getting like a pound of king crab legs for $10 bucks


.

I go to Vegas at least 3x a month. I eat $40. hamburgers for free excluding tips.
Do you have problem with that?

 

[charwin95]

Yeah they ain't gonna pay those illegals fifteen an hour when they can pay them less than eight now them capitalist must live in big mansions and fly jet planes.
Keeping wages low and cost of living high is how the robber barons make their living.

As the economy gets better, wages go up......as we are now seeing...... putting people out of work because of left wing policies is the way left wingers get rich and accumulate power......making people poor is the bread and butter of left wing democrats.

Wages go up and so do commodity prices.When will the rich learn to live with less?

So Moonie... what do you think the "rich" do with the money?
A) hide under their mattress
B) Bury in the back yard
C) Buy yachts? I hope so I use to do computer programming for a yacht manufacturer and hundreds of "poor" people were paid to build yachts.
D) Build new mansions?
E) Buy goods and services? Hmmm... who provides these goods and services?
F) Invest? In startups, buy stocks, invest in savings accounts, bonds,etc. and what does this money do?

I truly would like you to tell me what the "rich" do with their money?

G) Mistress or girl friends.
H) Help homeless veterans. My passion.
I) Casinos.
J) Entertainments. Life is too short. Need to enjoy life.

Except A & B I don’t bury in my backyard or hide under the mattress.

 

[charwin95]

The major lack of understanding by $15 national minimum wage supporters is the employer is actually going to be paying MORE than the $15.00/hr. wage.

Most people don't realize an employer MATCHES employee's Social Security/Medicare payments...i.e. each pays 6.2% of total wages.

So for example a McDonalds with 15 minimum wage employees working 40 hours per week will cost the employer $241,800 more per year PLUS nearly $15,000 in additional SS/Medicare payments or nearly $256,000 more per year.

Now again... look at typical franchise operating expenses.

If the NET operating income BEFORE the $15 minimum wage was $153,900..
IT would be operating at a loss of $102,100!

Think the McDonald's franchise owner would:
A) consider letting some of the full time workers go?
B) replace them with robots?
C) Definitely raise the prices!
D) Close the business.
These are the realities the owners are to face if forced to pay a national minimum wage of $15.00.
Totally stupid when Mississippi operates at 80% of American cost of living versus New York at 140% where the minimum wage of $15 is not enough.
ONE SIZE does NOT FIT All 50 states folks!
View attachment 265300

1. So your telling us $7.50/hour should stay?
2. Since when a McDonald’s have 15 full time 40 hours employees? Normally when they do the scheduling it’s 4 hours here and there depending on the days or hours. This showed you just keep blurting gas. Means ALL your numbers are bogus.
3. Remember employees are the best assets of an establishments. Keeping the moral is best for businesses.

I’m in the medical instruments business but I know friends and relatives that owns restaurants and franchises.

 

[charwin95]

we already know higher paid labor pays more in taxes; why would higher paid labor not also create more in demand?

But I'm pretty confident YOU like a vast majority of $15/miminum wage advocates didn't know the employer pays 6.2% of employee's pay in SS/Medicare which ADDS to the $15.00 / hour labor costs.

Labor costs can be expensed to reduce taxable income. The more labor costs, the more can be expensed.

Why do some companies not make a profit?

Hey quit showing your stupidity!
Please tell the franchise owner that was making a net profit BEFORE Taxes by the way of $153,900... and by increasing the pay to $15/hour the owner
now has NO taxes to pay PLUS owes $102,100!
How stupid must you be to think it is a "tax advantage"?

the higher cost of wages and benefits can be expensed to lower their tax burden.

You just don't get it do you?

You have to have a "profit" to stay in business!
READ this carefully.
NOTE at crew pay NOT at $15/hr the franchise owner makes a profit of $153,900.
BUT now do you comprehend this: If you increase the crew's pay to $15/hour that means the "crew's" pay is now at $540,000, THAT completely eliminates
any profit AND creates a loss of $102,100! Do you comprehend this?
A) You have to have a profit to pay taxes.
B) Double crew pay means NO PROFIT but a LOSS!

DO YOU comprehend that???


View attachment 265473

In reality and real life. I’m not sure if you understand what you are talking about.

Explain to us why Seattle and Los Angeles McDonald’s etc etc etc has not collapses....

 

[Wyatt earp]

Tell me about it a hamburger basket in Colorado cost $12 bucks ( MW $11.25) the same one in South Carolina cost $8 bucks (MW $7.25)

What about the hamburger basket in Vegas that costs $30 bucks (MW $8.65)?

You do get that the prices of things in most of Vegas are nothing like the prices in the fucking casinos, right? No, probably not.

You can't buy a $30.00 burger basket off the strip? You sure?

btw; A large #1 double at Wendy's will cost you $10.05.....Off the strip.

Who the fuck goes to Vegas to eat a hamburger?

Only a broke ass guy like you, I remember getting like a pound of king crab legs for $10 bucks


.

I go to Vegas at least 3x a month. I eat $40. hamburgers for free excluding tips.
Do you have problem with that?

And i get free hookers and cocaine when I go to Vegas, what does that have to do with the topic?

 

[charwin95]

What is skimming? definition and meaning

I can tell you are not a businessman, because skimming is illegal.

I can't take a company credit card and make a mortgage payment that the company pays as long as taxes are paid on that money?

One of my previous employers used to pay his rent, electric, car payment with a company credit card and then complain about being broke. His wife used the company CC to buy jewelry with.

If they don't take it as personal income, then they could be in trouble if they are ever sued or audited by at state or federal agency.

If you try to deduct it as a business expense you may be in trouble, otherwise you put the girlfriend on payroll.

That’s why you take it as personal income and pay the tax. If you want to put a girlfriend on your payroll have at it. To me it is a bad business decision however since you don’t own a business it doesn’t matter.

It’s bad or bad luck to put a girl friend in your pay roll. Bad for business.

This can also put you out of business. I’ve seen it.

 

[healthmyths]

But I'm pretty confident YOU like a vast majority of $15/miminum wage advocates didn't know the employer pays 6.2% of employee's pay in SS/Medicare which ADDS to the $15.00 / hour labor costs.

Labor costs can be expensed to reduce taxable income. The more labor costs, the more can be expensed.

Why do some companies not make a profit?

Hey quit showing your stupidity!
Please tell the franchise owner that was making a net profit BEFORE Taxes by the way of $153,900... and by increasing the pay to $15/hour the owner
now has NO taxes to pay PLUS owes $102,100!
How stupid must you be to think it is a "tax advantage"?

the higher cost of wages and benefits can be expensed to lower their tax burden.

You just don't get it do you?

You have to have a "profit" to stay in business!
READ this carefully.
NOTE at crew pay NOT at $15/hr the franchise owner makes a profit of $153,900.
BUT now do you comprehend this: If you increase the crew's pay to $15/hour that means the "crew's" pay is now at $540,000, THAT completely eliminates
any profit AND creates a loss of $102,100! Do you comprehend this?
A) You have to have a profit to pay taxes.
B) Double crew pay means NO PROFIT but a LOSS!

DO YOU comprehend that???


View attachment 265473

In reality and real life. I’m not sure if you understand what you are talking about.

Explain to us why Seattle and Los Angeles McDonald’s etc etc etc has not collapses....

Quote not guesses.
"Some operators responded to the minimum wage increases by cutting costs, with 64% saying they reduced employee hours,
and 43 percent saying they eliminated jobs."
Higher minimum wage means restaurants raise prices and fewer employee hours, survey finds

 

[healthmyths]

But I'm pretty confident YOU like a vast majority of $15/miminum wage advocates didn't know the employer pays 6.2% of employee's pay in SS/Medicare which ADDS to the $15.00 / hour labor costs.

Labor costs can be expensed to reduce taxable income. The more labor costs, the more can be expensed.

Why do some companies not make a profit?

Hey quit showing your stupidity!
Please tell the franchise owner that was making a net profit BEFORE Taxes by the way of $153,900... and by increasing the pay to $15/hour the owner
now has NO taxes to pay PLUS owes $102,100!
How stupid must you be to think it is a "tax advantage"?

the higher cost of wages and benefits can be expensed to lower their tax burden.

You just don't get it do you?

You have to have a "profit" to stay in business!
READ this carefully.
NOTE at crew pay NOT at $15/hr the franchise owner makes a profit of $153,900.
BUT now do you comprehend this: If you increase the crew's pay to $15/hour that means the "crew's" pay is now at $540,000, THAT completely eliminates
any profit AND creates a loss of $102,100! Do you comprehend this?
A) You have to have a profit to pay taxes.
B) Double crew pay means NO PROFIT but a LOSS!

DO YOU comprehend that???


View attachment 265473

In reality and real life. I’m not sure if you understand what you are talking about.

Explain to us why Seattle and Los Angeles McDonald’s etc etc etc has not collapses....

FACTS!!! Not guesses...


Seattle employers cut hours after latest minimum wage rise, study finds
Low-wage workers on average now clock 9 percent fewer hours and earn $125 less each month than before the Pacific Northwest city set one of the highest minimum wages in the nation, the University of Washington research paper said.

Even so, overall employment at city restaurants, where a large percentage of low-wage earners work, held steady.

Seattle, which has a booming economy and a strong technology sector, is midway through an initiative to increase its minimum wage for all employers to $15 an hour. The city is at the forefront of a nationwide push by Democratic elected officials and organized labor in targeting $15 for all workers.
Seattle employers cut hours after latest minimum wage rise, study finds - Reuters

 

[danielpalos]

we already know higher paid labor pays more in taxes; why would higher paid labor not also create more in demand?

But I'm pretty confident YOU like a vast majority of $15/miminum wage advocates didn't know the employer pays 6.2% of employee's pay in SS/Medicare which ADDS to the $15.00 / hour labor costs.

Labor costs can be expensed to reduce taxable income. The more labor costs, the more can be expensed.

Why do some companies not make a profit?

Hey quit showing your stupidity!
Please tell the franchise owner that was making a net profit BEFORE Taxes by the way of $153,900... and by increasing the pay to $15/hour the owner
now has NO taxes to pay PLUS owes $102,100!
How stupid must you be to think it is a "tax advantage"?

the higher cost of wages and benefits can be expensed to lower their tax burden.

You just don't get it do you?

You have to have a "profit" to stay in business!
READ this carefully.
NOTE at crew pay NOT at $15/hr the franchise owner makes a profit of $153,900.
BUT now do you comprehend this: If you increase the crew's pay to $15/hour that means the "crew's" pay is now at $540,000, THAT completely eliminates
any profit AND creates a loss of $102,100! Do you comprehend this?
A) You have to have a profit to pay taxes.
B) Double crew pay means NO PROFIT but a LOSS!

DO YOU comprehend that???


View attachment 265473

i comprehend that savings are not usually passed on to consumers but costs are.

 

[danielpalos]

the right wing, never gets it.

Why would they want to "get" a falsehood? Hey back to us when you get opportunity cost.

lol. nobody takes the right wing seriously about economics.

Why then do you complain about them so much?

because they claim they are right, simply Because they are on the right wing.

Apparently, you're taking them seriously.

until they resort to fallacy, which is usually.

 

[healthmyths]

But I'm pretty confident YOU like a vast majority of $15/miminum wage advocates didn't know the employer pays 6.2% of employee's pay in SS/Medicare which ADDS to the $15.00 / hour labor costs.

Labor costs can be expensed to reduce taxable income. The more labor costs, the more can be expensed.

Why do some companies not make a profit?

Hey quit showing your stupidity!
Please tell the franchise owner that was making a net profit BEFORE Taxes by the way of $153,900... and by increasing the pay to $15/hour the owner
now has NO taxes to pay PLUS owes $102,100!
How stupid must you be to think it is a "tax advantage"?

the higher cost of wages and benefits can be expensed to lower their tax burden.

You just don't get it do you?

You have to have a "profit" to stay in business!
READ this carefully.
NOTE at crew pay NOT at $15/hr the franchise owner makes a profit of $153,900.
BUT now do you comprehend this: If you increase the crew's pay to $15/hour that means the "crew's" pay is now at $540,000, THAT completely eliminates
any profit AND creates a loss of $102,100! Do you comprehend this?
A) You have to have a profit to pay taxes.
B) Double crew pay means NO PROFIT but a LOSS!

DO YOU comprehend that???


View attachment 265473

In reality and real life. I’m not sure if you understand what you are talking about.

Explain to us why Seattle and Los Angeles McDonald’s etc etc etc has not collapses....

In July 2016, she closed her store because of “the ever increasing minimum wage,” she says. She’s not alone. Nat Cutler, one of the owners of Abbot’s Cellar in San Francisco also had to close his doors when minimum wage went up -- along with other business costs in the city.

The stories are not limited to California, though they are concentrated in states that have already made moves to raise minimum wage. So it begs the question: is $15 minimum wage actually a good idea?

According to Salem, “California’s putting up the going out of business sign. It’s a tragedy. ”

He then went to break down the economics of his company, which employs 25 individuals:
“When the $15 minimum wage is fully phased in, my company would be losing in excess of $200,000 a year (and far more if my workforce grows as anticipated). That may be a drop in the bucket for large corporations, but a small business cannot absorb such losses….
Small Businesses Struggling With $15 Minimum Wage, New Site Reports

“Restaurants tend to operate on famously low profit margins, typically 2 to 6 percent. So a 40 percent mandatory wage increase over a two-year period is not trivial. “In response to the minimum wage hikes, New York City restaurants did what businesses tend to do when labor costs rise: they increased prices and reduced labor staff and hours.
“For example, Lalito’s, a popular restaurant on Bayard Street, recently raised its menu prices 10-15 percent, Eater New York reports.

“A New York City Hospitality Alliance survey also showed that three out of four full-service restaurants said they planned to reduce employee hours. Nearly half of those surveyed said they planned to eliminate some job positions in 2019.”

Minimum Wage Hikes Are Wiping Out Jobs

 

[charwin95]

What about the hamburger basket in Vegas that costs $30 bucks (MW $8.65)?

You do get that the prices of things in most of Vegas are nothing like the prices in the fucking casinos, right? No, probably not.

You can't buy a $30.00 burger basket off the strip? You sure?

btw; A large #1 double at Wendy's will cost you $10.05.....Off the strip.

Who the fuck goes to Vegas to eat a hamburger?

Only a broke ass guy like you, I remember getting like a pound of king crab legs for $10 bucks


.

I go to Vegas at least 3x a month. I eat $40. hamburgers for free excluding tips.
Do you have problem with that?

And i get free hookers and cocaine when I go to Vegas, what does that have to do with the topic?

No you don’t. You only make a peanut as a mold maker. How can that be? And you live where again? I know you told me and showed me where you live.

What is this has to do with the topic?
You asked the question. Who the fuck goes to Vegas to eat hamburger.........
And I do eat $40 hamburger for free plus free ( rooms) comp at Venetian, Encore, Aria or Wynn.

 

[hadit]

Why would they want to "get" a falsehood? Hey back to us when you get opportunity cost.

lol. nobody takes the right wing seriously about economics.

Why then do you complain about them so much?

because they claim they are right, simply Because they are on the right wing.

Apparently, you're taking them seriously.

until they resort to fallacy, which is usually.

So you contradict yourself, again.

 

[danielpalos]

Labor costs can be expensed to reduce taxable income. The more labor costs, the more can be expensed.

Why do some companies not make a profit?

Hey quit showing your stupidity!
Please tell the franchise owner that was making a net profit BEFORE Taxes by the way of $153,900... and by increasing the pay to $15/hour the owner
now has NO taxes to pay PLUS owes $102,100!
How stupid must you be to think it is a "tax advantage"?

the higher cost of wages and benefits can be expensed to lower their tax burden.

You just don't get it do you?

You have to have a "profit" to stay in business!
READ this carefully.
NOTE at crew pay NOT at $15/hr the franchise owner makes a profit of $153,900.
BUT now do you comprehend this: If you increase the crew's pay to $15/hour that means the "crew's" pay is now at $540,000, THAT completely eliminates
any profit AND creates a loss of $102,100! Do you comprehend this?
A) You have to have a profit to pay taxes.
B) Double crew pay means NO PROFIT but a LOSS!

DO YOU comprehend that???


View attachment 265473

In reality and real life. I’m not sure if you understand what you are talking about.

Explain to us why Seattle and Los Angeles McDonald’s etc etc etc has not collapses....

Quote not guesses.
"Some operators responded to the minimum wage increases by cutting costs, with 64% saying they reduced employee hours,
and 43 percent saying they eliminated jobs."
Higher minimum wage means restaurants raise prices and fewer employee hours, survey finds

we know the short term equilibrium must be different from the long term equilibrium.

 

[charwin95]

Labor costs can be expensed to reduce taxable income. The more labor costs, the more can be expensed.

Why do some companies not make a profit?

Hey quit showing your stupidity!
Please tell the franchise owner that was making a net profit BEFORE Taxes by the way of $153,900... and by increasing the pay to $15/hour the owner
now has NO taxes to pay PLUS owes $102,100!
How stupid must you be to think it is a "tax advantage"?

the higher cost of wages and benefits can be expensed to lower their tax burden.

You just don't get it do you?

You have to have a "profit" to stay in business!
READ this carefully.
NOTE at crew pay NOT at $15/hr the franchise owner makes a profit of $153,900.
BUT now do you comprehend this: If you increase the crew's pay to $15/hour that means the "crew's" pay is now at $540,000, THAT completely eliminates
any profit AND creates a loss of $102,100! Do you comprehend this?
A) You have to have a profit to pay taxes.
B) Double crew pay means NO PROFIT but a LOSS!

DO YOU comprehend that???


View attachment 265473

In reality and real life. I’m not sure if you understand what you are talking about.

Explain to us why Seattle and Los Angeles McDonald’s etc etc etc has not collapses....

In July 2016, she closed her store because of “the ever increasing minimum wage,” she says. She’s not alone. Nat Cutler, one of the owners of Abbot’s Cellar in San Francisco also had to close his doors when minimum wage went up -- along with other business costs in the city.

The stories are not limited to California, though they are concentrated in states that have already made moves to raise minimum wage. So it begs the question: is $15 minimum wage actually a good idea?

According to Salem, “California’s putting up the going out of business sign. It’s a tragedy. ”

He then went to break down the economics of his company, which employs 25 individuals:
“When the $15 minimum wage is fully phased in, my company would be losing in excess of $200,000 a year (and far more if my workforce grows as anticipated). That may be a drop in the bucket for large corporations, but a small business cannot absorb such losses….
Small Businesses Struggling With $15 Minimum Wage, New Site Reports

“Restaurants tend to operate on famously low profit margins, typically 2 to 6 percent. So a 40 percent mandatory wage increase over a two-year period is not trivial. “In response to the minimum wage hikes, New York City restaurants did what businesses tend to do when labor costs rise: they increased prices and reduced labor staff and hours.
“For example, Lalito’s, a popular restaurant on Bayard Street, recently raised its menu prices 10-15 percent, Eater New York reports.

“A New York City Hospitality Alliance survey also showed that three out of four full-service restaurants said they planned to reduce employee hours. Nearly half of those surveyed said they planned to eliminate some job positions in 2019.”

Minimum Wage Hikes Are Wiping Out Jobs

Your posts # 831, 832 and 835 do not explain why Seattle did not collapse after the raise of MW.
Not eeeveven close. In reality Seattle and neighboring counties are booming.

 

[hadit]

Hey quit showing your stupidity!
Please tell the franchise owner that was making a net profit BEFORE Taxes by the way of $153,900... and by increasing the pay to $15/hour the owner
now has NO taxes to pay PLUS owes $102,100!
How stupid must you be to think it is a "tax advantage"?

the higher cost of wages and benefits can be expensed to lower their tax burden.

You just don't get it do you?

You have to have a "profit" to stay in business!
READ this carefully.
NOTE at crew pay NOT at $15/hr the franchise owner makes a profit of $153,900.
BUT now do you comprehend this: If you increase the crew's pay to $15/hour that means the "crew's" pay is now at $540,000, THAT completely eliminates
any profit AND creates a loss of $102,100! Do you comprehend this?
A) You have to have a profit to pay taxes.
B) Double crew pay means NO PROFIT but a LOSS!

DO YOU comprehend that???


View attachment 265473

In reality and real life. I’m not sure if you understand what you are talking about.

Explain to us why Seattle and Los Angeles McDonald’s etc etc etc has not collapses....

Quote not guesses.
"Some operators responded to the minimum wage increases by cutting costs, with 64% saying they reduced employee hours,
and 43 percent saying they eliminated jobs."
Higher minimum wage means restaurants raise prices and fewer employee hours, survey finds

we know the short term equilibrium must be different from the long term equilibrium.

And the long term equilibrium demands that, in a few short years, the usual suspects will be back, complaining that 15 is nowhere near enough.