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With the increased minimum wage, White Castle, the burger chain, is in a quandary. Their one of their biggest costs is the payroll for hourly workers. They have the choice of passing the cost on to the customer or cutting employees. They would have to increase the menu costs by 50% in order to make of the difference, and that would be a disaster, they think. They've seen big effects from even small increases in prices. People would just stop coming to eat there and would go to the grocery store instead. So much of the pain will be borne by lower level employees. More young people will be unable to find word, to take a step up to the first rug of the latter. White Castle promotes from within and there are many success stories about people who started out at the bottom, but there will be a lot less of that. White Castle has stayed in distressed neighborhoods where such jobs are really needed. Too bad. The 40% or more unemployment among young poor people will just get a little higher. Even worse is the danger that stores will have to close entirely if the new business model doesn't work.
The liberals who did this won't care because they won't see or realized the damage they did. I suspect that they are happier with more people dependent on the government. To paraphrase the chief financial officer of Venezuela, they don't want people earning their way into the middle class because those people are more likely to become Republicans.
New York Minimum Wage -- White Castle Adjusts, Entry-Level Workers Lose Out
To put it another way, the real minimum wage is always zero. That's what more people will be getting now.
The liberals who did this won't care because they won't see or realized the damage they did. I suspect that they are happier with more people dependent on the government. To paraphrase the chief financial officer of Venezuela, they don't want people earning their way into the middle class because those people are more likely to become Republicans.
New York Minimum Wage -- White Castle Adjusts, Entry-Level Workers Lose Out
To put it another way, the real minimum wage is always zero. That's what more people will be getting now.
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