Monday, May 25, 2015
by “paying executives and shareholders less.” Anti small business economic illiteracy.
Spilling the truth on the fight for a $15 minimum wage
Did The New York Times just inadvertently tell us what the real goal of the raise-the-minimum-wage campaign is?
A Times editorial last week cheered Los Angeles’ enactment of a $15-an-hour minimum wage — but noted that restaurants, particularly fast-food joints, don’t like it. Said The Times: “The restaurant industry . . . will not go down without a fight.”
We didn’t think that bringing down an entire industry was what the campaign for a $15 minimum was supposed to be about. Oops.
Back in March, we noted that a similar hike in Seattle’s minimum wage was leading to a spate of local restaurant closings, given that labor costs account for 36 percent of the average restaurant’s earnings.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment