edjr 5,444 Posted May 16, 2017 The Minimum Wage Eats Restaurants https://www.wsj.com/articles/the-minimum-wage-eats-restaurants-1494369579?mod=fbads San Francisco’s ever-rising minimum wage—set to hit $15 next year—has restaurant owners asking for the check. “At Least 60 Bay Area Restaurants Have Closed Since September,” read a January headline at the website SFist, which partly blamed “the especially high cost of doing business in SF, with a mandated, rising minimum wage that does not exempt tipped employees.” Another publication, Eater, described the rash of recent closures as a “death march.” Perhaps the highest-profile closure in San Francisco this year was AQ, which in 2012 was a James Beard Award finalist for the best new restaurant in America. Rising costs chipped away at the restaurant’s profitability, according to a report by Thrillist, driving down the profit margin from 8.5% in 2012 to 1.5% by 2015. When San Francisco added its own municipal minimum wage in 2004—one of the first in the country—the operating assumption was that tourists and techies would pay the higher prices necessary to offset the cost of the city’s generosity. Last year the San Francisco Chronicle looked at 20 years’ of menus from top restaurants and reported that prices had jumped 52% since 2005, twice the rate of inflation. But increasing prices isn’t a panacea for restaurant owners. “There’s only so much you can charge for tamales,” the owner of a small eatery said in 2015 to explain one reason he was closing. For some empirical backup, consider an April study from Michael Luca at Harvard Business School and Dara Lee Luca at Mathematica Policy Research. They used Bay Area data from the review website Yelp to estimate that a $1 minimum-wage hike leads to a 14% increase in “the likelihood of exit for a 3.5-star restaurant.” Put differently, San Francisco’s minimum wage experiment may be dangerous for your favorite white-tablecloth restaurant—the kind of place where the food is exquisite and can command a premium—but it’s downright deadly for your local white-apron diner. If there’s a silver lining to San Francisco’s culinary struggles, it’s that other cities, even ones run by Democrats, are realizing the arguments for a $15 minimum wage don’t match reality. In March, Baltimore’s mayor, Catherine Pugh, vetoed a measure that would have raised the local mandate to $15 by 2022. “I want people to earn better wages,” she told this newspaper. “But I also want my city to survive.” California lawmakers have been less thoughtful in their approach. Under legislation passed last year the state will raise its wage floor to $15 an hour as soon as 2022. That mandate applies not only to the prosperous coast but also to the impoverished inland. California is already a net exporter of working-class residents. From 2000-15, the state lost a net 800,000 people living close to the poverty line, according to a Sacramento Bee analysis of Census Bureau data. These families understand something that the City Council in San Francisco and the Legislature in Sacramento do not: New wage mandates and government benefits don’t mean much if you can’t find a job. San Fran Sicko of all places. Good job, good effort. Share this post Link to post Share on other sites
patweisers44 689 Posted May 16, 2017 No way I visit the website called "SFist" 1 Share this post Link to post Share on other sites
mobb_deep 917 Posted May 16, 2017 The median income in SF is 80,000 a year. 15$ an hour is 30,000 dollars a year, which still puts these people WAY below the poverty line. Obviously 15$ an hour is a bit much for most of you living in BFE middle america, where the median income is 40k. Take a trip to SF and see how everything literally costs twice as much as Texas. These restaurants aren't surviving because they are in a hugely competitive market, with super expensive leases, and their food sucks. Share this post Link to post Share on other sites
RaiderHaters Revenge 3,518 Posted May 16, 2017 nobody could have seen this coming Share this post Link to post Share on other sites
RaiderHaters Revenge 3,518 Posted May 16, 2017 The median income in SF is 80,000 a year. 15$ an hour is 30,000 dollars a year, which still puts these people WAY below the poverty line. way to completely miss the point not suprised Share this post Link to post Share on other sites
edjr 5,444 Posted May 16, 2017 The median income in SF is 80,000 a year. 15$ an hour is 30,000 dollars a year, which still puts these people WAY below the poverty line. Obviously 15$ an hour is a bit much for most of you living in BFE middle america, where the median income is 40k. Take a trip to SF and see how everything literally costs twice as much as Texas. These restaurants aren't surviving because they are in a hugely competitive market, with super expensive leases, and their food sucks. what does that have to do with the price of sand in Egypt? Share this post Link to post Share on other sites
mobb_deep 917 Posted May 16, 2017 way to completely miss the point not suprised Well, you explained it so eloquently here. I completed understand now. Thanks, Drumpflake! Share this post Link to post Share on other sites
mobb_deep 917 Posted May 16, 2017 what does that have to do with the price of sand in Egypt? Clearly, sand should be cheaper in Egypt. Duh. Share this post Link to post Share on other sites
Cruzer 1,992 Posted May 16, 2017 The median income in SF is 80,000 a year. 15$ an hour is 30,000 dollars a year, which still puts these people WAY below the poverty line. Obviously 15$ an hour is a bit much for most of you living in BFE middle america, where the median income is 40k. Take a trip to SF and see how everything literally costs twice as much as Texas. These restaurants aren't surviving because they are in a hugely competitive market, with super expensive leases, and their food sucks. Einstein proved relativity to be a basis of the universe... This seems to be a good point - worth considering. Share this post Link to post Share on other sites
edjr 5,444 Posted May 16, 2017 Clearly, sand should be cheaper in Egypt. Duh. as should pay for restaurant workers Share this post Link to post Share on other sites
RaiderHaters Revenge 3,518 Posted May 16, 2017 Well, you explained it so eloquently here. I completed understand now. Thanks, Drumpflake! here it is for you raise min wage, businesses have to close down, no jobs more on welfare wtg Bernie idiots Share this post Link to post Share on other sites
cyclone24 1,755 Posted May 16, 2017 Wait...stop..no way...you mean the market dictating prices as opposed to government intervention trying to overinflate value doesnt work??!!! No fockin way. Share this post Link to post Share on other sites
Filthy Fernadez 2,696 Posted May 16, 2017 The median income in SF is 80,000 a year. 15$ an hour is 30,000 dollars a year, which still puts these people WAY below the poverty line. So they shouldn't focking live there FFS Share this post Link to post Share on other sites
Baker Boy 1,446 Posted May 16, 2017 The median income in SF is 80,000 a year. 15$ an hour is 30,000 dollars a year, which still puts these people WAY below the poverty line. Obviously 15$ an hour is a bit much for most of you living in BFE middle america, where the median income is 40k. Take a trip to SF and see how everything literally costs twice as much as Texas. These restaurants aren't surviving because they are in a hugely competitive market, with super expensive leases, and their food sucks. Add in tips and they are making another $30,000 tax free and The median income is not the poverty line. Share this post Link to post Share on other sites
Filthy Fernadez 2,696 Posted May 16, 2017 The median income in SF is 80,000 a year. 15$ an hour is 30,000 dollars a year, which still puts these people WAY below the poverty line. Liberal thinking at it's best. So these people that demanded they get $15 per hour now earn....................$0.00 per hour until unemployment kicks in where they'll earn less than the previous minimum wage. Jesus H.......... Share this post Link to post Share on other sites
mobb_deep 917 Posted May 16, 2017 here it is for you raise min wage, businesses have to close down, no jobs more on welfare wtg Bernie idiots ok, here's my version. wages should go up relative to inflation, so we're not forced to let in a bunch of illegal immigrants to do those jobs. Thus allowing you trumptards to enjoy the benefits of the white patriarchal society, you hearken back to when "America was great". As it stands now, minimum wage is worth less than it was 50 years ago. 1 Share this post Link to post Share on other sites
cyclone24 1,755 Posted May 16, 2017 So they shouldn't focking live there FFS Exactly. "I have no education and mininal skills....but i want to live in hawaii by the beach...why is everything so expensive!!....Raise my wage so i can live!!" GTFOH 2 Share this post Link to post Share on other sites
mobb_deep 917 Posted May 16, 2017 Add in tips and they are making another $30,000 tax free and The median income is not the poverty line. Tips are reported and taxed. Not everybody gets out of paying taxes, like your snowflake in chief. 1 Share this post Link to post Share on other sites
mobb_deep 917 Posted May 16, 2017 Exactly. "I have no education and mininal skills....but i want to live in hawaii by the beach...why is everything so expensive!!....Raise my wage so i can live!!" GTFOH No doubt. Hawaii should just level all hotels, retail stores, restaurants, etc. Everybody visiting can just sleep under the stars, hunt their own food and sh!t in the ocean. Share this post Link to post Share on other sites
Filthy Fernadez 2,696 Posted May 16, 2017 Exactly. "I have no education and mininal skills....but i want to live in hawaii by the beach...why is everything so expensive!!....Raise my wage so i can live!!" GTFOH Well put. Share this post Link to post Share on other sites
Baker Boy 1,446 Posted May 16, 2017 Tips are reported and taxed. Not everybody gets out of paying taxes, like your snowflake in chief. You are a fool and have never worked for tips. Now tell us how the poverty line in SF is $80,000. Share this post Link to post Share on other sites
Hardcore troubadour 12,407 Posted May 16, 2017 Tips are reported and taxed. Not everybody gets out of paying taxes, like your snowflake in chief. Tips are reported? Lol. Someone never had a job with tips. Share this post Link to post Share on other sites
Filthy Fernadez 2,696 Posted May 16, 2017 No doubt. Hawaii should just level all hotels, retail stores, restaurants, etc. Everybody visiting can just sleep under the stars, hunt their own food and sh!t in the ocean. So in your society, everyone should be on equal footing financially speaking? Ah...........Socialism. The great equalizer to people's personal deficiencies. Share this post Link to post Share on other sites
mobb_deep 917 Posted May 16, 2017 You are a fool and have never worked for tips. Now tell us how the poverty line in SF is $80,000. Actually, I waited tables for several years, whilst in college. Wrong again, gramps. I think it's your nap time. You're acting all erratic and confused again. Share this post Link to post Share on other sites
cyclone24 1,755 Posted May 16, 2017 No doubt. Hawaii should just level all hotels, retail stores, restaurants, etc. Everybody visiting can just sleep under the stars, hunt their own food and sh!t in the ocean. Fyi..ive done one of those in hawaii...ill let you guess. Anyway...not the point. Wages shouldn't sky rocket because pudding head waitress needs $20 an hour to "survive". That's not my responsibility. You know you have no education, you know city living is wildly expensive....dont whine about it now. The change that needs to be made is by the waitress...not society or the market. 1 Share this post Link to post Share on other sites
RaiderHaters Revenge 3,518 Posted May 16, 2017 ok, here's my version. wages should go up relative to inflation, so we're not forced to let in a bunch of illegal immigrants to do those jobs. Thus allowing you trumptards to enjoy the benefits of the white patriarchal society, you hearken back to when "America was great". As it stands now, minimum wage is worth less than it was 50 years ago. here's my version minimum wage is a sham, I should be able to pay whatever I want if someone is willing to work for it I guarantee there are a lot of wait staff and bartenders that were making 150-250 a day in tips, now out of work...and why? Cause of mandatory minimum wage hikes Share this post Link to post Share on other sites
Hardcore troubadour 12,407 Posted May 16, 2017 Actually, I waited tables for several years, whilst in college. Wrong again, gramps. I think it's your nap time. You're acting all erratic and confused again. And all your tips were taxed? Liar. Share this post Link to post Share on other sites
TimmySmith 2,782 Posted May 16, 2017 The only restaurants closing are the affordable ones. The rest charge enough to serve the wealthy. Share this post Link to post Share on other sites
Filthy Fernadez 2,696 Posted May 16, 2017 Actually, I waited tables for several years, whilst in college. Wrong again, gramps. I think it's your nap time. You're acting all erratic and confused again. He's making more sense than you Stalin. Only a fraction of cash tips get reported. Share this post Link to post Share on other sites
Baker Boy 1,446 Posted May 16, 2017 So in your society, everyone should be on equal footing financially speaking? Ah...........Socialism. The great equalizer to people's personal deficiencies. Yes, WNBA and NBA players should all make the same thing. Every contract should be exactly the same. It is a beautiful system that cannot fail. Just think how happy everyone would be. Share this post Link to post Share on other sites
cyclone24 1,755 Posted May 16, 2017 Yes, WNBA and NBA players should all make the same thing. Every contract should be exactly the same. It is a beautiful system that cannot fail. Just think how happy everyone would be. On the other hand...what if everyone got the same number of posts to put up per day.....tell me that wouldnt make this bored great again. Share this post Link to post Share on other sites
Strike 3,884 Posted May 16, 2017 ok, here's my version. wages should go up relative to inflation, so we're not forced to let in a bunch of illegal immigrants to do those jobs. Thus allowing you trumptards to enjoy the benefits of the white patriarchal society, you hearken back to when "America was great". As it stands now, minimum wage is worth less than it was 50 years ago. Here's my version. Low wage jobs should be transient. While one learns a skill that will pay more. If someone is 30 years old and hoping minimum wage is raised so they can make more that's pretty pathetic. No one should have minimum wage as their ceiling for a salary. People should have higher goals than that. I don't have a lot of sympathy for those that don't. 2 Share this post Link to post Share on other sites
Filthy Fernadez 2,696 Posted May 16, 2017 Here's my version. Low wage jobs should be transient. While one learns a skill that will pay more. If someone is 30 years old and hoping minimum wage is raised so they can make more that's pretty pathetic. No one should have minimum wage as their ceiling for a salary. People should have higher goals than that. I don't have a lot of sympathy for those that don't. It enables slackers to keep smoking weed, doing drugs or whatever. Want more money? Go out and earn it. Progress up the ladder like the rest of us did. Share this post Link to post Share on other sites
mobb_deep 917 Posted May 16, 2017 Here's my version. Low wage jobs should be transient. While one learns a skill that will pay more. If someone is 30 years old and hoping minimum wage is raised so they can make more that's pretty pathetic. No one should have minimum wage as their ceiling for a salary. People should have higher goals than that. I don't have a lot of sympathy for those that don't. Of course they should, but what "people should do" is not the reality of what people DO. The reality is the low skill jobs (factory worker, assembly line, etc) that paid a living wage are gone forever (regardless of what Trump tell you). They have been replaced by the most profitable mega-companies on the planet (ie. Walmart). Those corporations make record profits, while half of their full time employees are still receiving government assistance. Costing the tax payer over 6,000,000,000 dollars a year! Share this post Link to post Share on other sites
mobb_deep 917 Posted May 16, 2017 Looks like Baker Boy deleted his post saying I was wrong, where he follows that up by proving I was right. LOL. Luckily I screen grabbed it for him! http://imgur.com/yOul8bK Federal minimum wage isn't 10.55 an hour, you dope. It's 7.25, just like it has been for almost 10 years. Adjusted for inflation it should be around 12.00 an hour. http://www.pewresearch.org/fact-tank/2017/01/04/5-facts-about-the-minimum-wage/ Adjusted for inflation, the federal minimum wage peaked in 1968 at $8.68 (in 2016 dollars). Since it was last raised in 2009, to the current $7.25 per hour, the federal minimum has lost about 9.6% of its purchasing power to inflation. Back in 2015, The Economist estimated that, given how rich the U.S. is and the pattern among other advanced economies in the Organization for Economic Cooperation and Development, “one would expect America … to pay a minimum wage around $12 an hour.” Share this post Link to post Share on other sites
Filthy Fernadez 2,696 Posted May 16, 2017 Of course they should, but what "people should do" is not the reality of what people DO. So we should be in the business of protecting people from themselves? Share this post Link to post Share on other sites
mobb_deep 917 Posted May 16, 2017 Fyi..ive done one of those in hawaii...ill let you guess. Anyway...not the point. Wages shouldn't sky rocket because pudding head waitress needs $20 an hour to "survive". That's not my responsibility. You know you have no education, you know city living is wildly expensive....dont whine about it now. The change that needs to be made is by the waitress...not society or the market. No. The point is that we don't need every single American to be an engineer, doctor, lawyer, etc. The people in the service industry are also an important part of the American economy. And while most of those jobs should ideally be filled by young adults, the reality of the situation is far different. As that is the case, you and I are picking up the buck, via government subsidies, while the mega corporations employing these people are making record profits. http://www.pewresearch.org/fact-tank/2017/01/04/5-facts-about-the-minimum-wage/ Less than half (45%) of the 2.6 million hourly workers who were at or below the federal minimum in 2015 were ages 16 to 24. An additional 23.3% are ages 25 to 34, according to the Bureau of Labor Statistics; both shares have stayed more or less constant over the past decade. That 2.6 million represents less than 2% of all wage and salary workers. (See more about the demographics of minimum-wage workers.) Share this post Link to post Share on other sites
Strike 3,884 Posted May 16, 2017 No. The point is that we don't need every single American to be an engineer, doctor, lawyer, etc. The people in the service industry are also an important part of the American economy. And while most of those jobs should ideally be filled by young adults, the reality of the situation is far different. As that is the case, you and I are picking up the buck, via government subsidies, while the mega corporations employing these people are making record profits. http://www.pewresearch.org/fact-tank/2017/01/04/5-facts-about-the-minimum-wage/ You want to drive wages up? Get rid of illegals. But I'm sure you're against that. Share this post Link to post Share on other sites
MDC 5,805 Posted May 16, 2017 The Wall Street Journal is against minimum wage hikes? GTFO. I wonder what the Anerican Socialist Magazine thinks? Share this post Link to post Share on other sites