Think $4 toast is bad? Try $6 toast, with no one to serve it to you.It amazes me that lefties still haven't figured out that you can't merely legislate people into prosperity.
A survey on one major Bay Area city's minimum-wage hike and its negative impact on businesses could be a warning sign for San Francisco leaders who are seeking to boost the nation's already-highest minimum wage.
In San Jose, a 25 percent minimum-wage hike last year led to higher prices for consumers and fewer hours for workers at restaurants, according to a survey conducted by the Employment Policy Institute, a conservative Washington, D.C.-based think tank.
Meanwhile, leaders in San Francisco -- which has a $10.74 minimum wage -- are calling for The City's lowest-paid workers to take home even more, possibly $15 per hour. And House Minority Leader Nancy Pelosi, D-San Francisco, has repeatedly called for an increase to the federal minimum wage.
"It's just bad public policy," said Michael Saltsman, the EPI's research director. "It's a warning for San Francisco -- and it's a warning for Congress"...
Out of the 163 South Bay restaurants surveyed, 108 -- or two-thirds -- raised prices after the $10 minimum wage took effect. Another 73 reduced workers' hours, and 69 restaurants cut staff entirely.
The notion of increasing San Francisco's minimum wage to $15 an hour is getting more traction. The influential San Francisco Labor Council recently called for such a figure.
Sunday, January 19, 2014
Yet Another Tax On People Who Don't Understand Economics
Why not just raise the minimum wage to $100/hr? Then we'd all be rich: