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Minimum wage hikes are causing restaurants to close, costing jobs

Ok; only the right wing prefers to be bigoted against the Poor when it comes to non-corporate forms of welfare.

No idea where this comment came from. Social welfare is generally defined as government provision for the wellbeing of the people who can't fully meet their own needs.
 
You may not like the reality, but it is the reality. Forcing higher wages costs jobs. It’s not complicated.

The United States has an entire history of different areas raising their minimum wage differently, which offered very extensive opportunity to evaluate the impact of those policies. The problem here is that it seems that, as far as typical minimum wage increases are concerned, there is absolutely no sign of a negative effect on hours worked, or employment. If you want a classic example, you can look at David Card and Alan Krueger (1992). They focus on low skill workers in the fast food industry and they find no traces whatsoever of what you're talking about. So, either there was no negative effect on worker, or it was absurdly small. By the way, it's not an unusual result -- it's typical of cross-sectional studies using microeconomic data.

Of course, it doesn't mean that if you can extrapolate these kinds of findings to huge minimum wage hikes and never see a negative effect. On the other hand, it does suggest that you might have some slack when it comes to enforcing a minimum wage. It might actually, up to a point, be doing more or less what people who push for it want it to do. This isn't exactly too much of a shock: labor market dynamics are pretty hard to model convincingly well, so I'm not falling off my chair that an ECON101 graph doesn't say everything.

So, it's a bit complicated. As for Thomas Sowell and Milton Friedman, though they clearly were very smart (and Sowell still is smart), they are people with a peculiar political bent. Even if he is also very smart, would you realy trust only Paul Krugman? If you want the insider point of view of an economist who actually reads the scientific papers, he usually makes a very good job of conveying arguments in business cycle analysis. It's usually up to date, to the point and he does give you the correct intuition. I know for a fact he read the relevant papers when he was commenting on low inflation, monetary policy and fiscal policy around 2010 and 2011 -- because I read those papers and he was going through the same arguments. I think he was ultimately somewhat wrong, but for reasons he could not have known before 2015 or 2016. Specifically, I know some of the theory behind his claims is wrong (from the articles that came out years after), but I also know that some empirical evidence goes in the direction of large crisis time multipliers and there is no way to tell if he might not be right or partly right, but for reasons he ignored.
 
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As long as the Poor benefit the least under our form of Capitalism?

Your one-liners are impossibly vague sweeping generalizations. I think you should try to put a little more effort in and be more specific.
 
...it isn't Labor costs that are causing restaurant business failures; it is business management that is the problem.
Wrong! If your staff require higher salaries then you have to charge customers more. At one point the meal becomes not worth the price and customers will not return. You can only ever have two of the cost, quantity and quality triangle. This forces businesses into all three at which point your business model is a sure loser. I say butt out of it. No one is forcing you to work at an hourly salary you don't agree with....are they.
 
Wrong! If your staff require higher salaries then you have to charge customers more. At one point the meal becomes not worth the price and customers will not return. You can only ever have two of the cost, quantity and quality triangle. This forces businesses into all three at which point your business model is a sure loser. I say butt out of it. No one is forcing you to work at an hourly salary you don't agree with....are they.

lol. No one "made you be a restaurateur" either. maybe you just were only "cut out" to be a boot maker or blacksmith?
 
Low numbers and lack of practice? I have a "full house" of arguments to your nothing but fallacy or repeal.
In your business training....what is the highest amount you would pay for a big mac? And please don't go derp and say you don't eat big macs.
 
Let's assume I am charging what the market will bear, compared to comparable products from any local competition.
Stop dodging. It was a direct question. What the market will bear is the question. Give me the highest price you will pay for a big mac before you determine it is not worth the cost v value.
 
Stop dodging. It was a direct question. What the market will bear is the question. Give me the highest price you will pay for a big mac before you determine it is not worth the cost v value.

Similar to what my competition is selling similar products for. I am hoping my location is a little bit better.
 
Anecdotes are meaningless. Real verifiable statistics are required to make the argument that minimum wage increases are hurting businesses or employees. How any businesses have closed due to payroll cost increases? How many workers have lost jobs due to the minimum wage increase?

Oftentimes hours are cut.

CBO analysis finds $15 minimum wage could cost 1.3 million jobs - Vox

Not surprisingly Bobby Scott (D-VA) is the author, and typically a Dem Yesman, so he certainly didn't weigh the data.
 
I predicted it. Its simple math. No one is going to pay 20 bucks for a cheeseburger.

The high end burgers that I've had are in the $12 range, and are NOT found at McDonald's.
 
If my competition can sell for that price, so can I. Hopefully, my location is sufficient.

I didn't ask you that. It was fun watching you flail for me but typically at the three strikes I get bored. Have a nice day.
 
The high end burgers that I've had are in the $12 range, and are NOT found at McDonald's.

Yep me too. Would you pay 12 dollars for a big mac so the employees can get 19 bucks an hr? I wouldn't.
 
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