$15 Minimum Wage? Nope, It's Zero! by Karl De
Post# of 5789
Posted On: 12/04/2014 1:52:17 PM
$15 Minimum Wage? Nope, It's Zero!
by Karl Denninger
2014-12-03 07:16
Oops...
According to the National Review Hotline, Kathrina Tugadi owner of Seattle’s El Norte Lounge, no longer hires musicians for her restaurant, she said she can’t justify expenses that don’t directly “add to the bottom line.” And, she says, hours will have to be cut: El Norte Lounge plans to stop serving lunch and only serve dinner.
http://tinyurl.com/jwtfdug
Here it comes Seattle.
You deserve this if you live there and did not immediately remove those who voted for this change -- and let's remember that the vote was unanimous.
This is your government. And let us remember that The Department of Labor, that means OBAMA and the Federal Government, is trying to do the same thing.
Sure, they can do it. If you let them.
But you will not get a $15 minimum wage if you're currently making under $10. You are very likely, in fact more than half-likely, to get zero instead because the company you work for will either fire you, replace you with a computer if it can, or cut back your hours dramatically.
Welcome to this thing called arithmetic folks, and for those of you who thought you could cram this down employer's throats, no, you can't, for the simple reason that for most employers labor is one of, if not the largest cost of their operation. Adding 30% or more to that operating cost will turn a profit into a loss at which point the company ultimately goes out of business and then you no longer have a job.
Stupidity has a price -- in this case the price is that you get to live under a freeway overpass.
http://market-ticker.org/akcs-www?post=229635
by Karl Denninger
2014-12-03 07:16
Oops...
According to the National Review Hotline, Kathrina Tugadi owner of Seattle’s El Norte Lounge, no longer hires musicians for her restaurant, she said she can’t justify expenses that don’t directly “add to the bottom line.” And, she says, hours will have to be cut: El Norte Lounge plans to stop serving lunch and only serve dinner.
http://tinyurl.com/jwtfdug
Here it comes Seattle.
You deserve this if you live there and did not immediately remove those who voted for this change -- and let's remember that the vote was unanimous.
This is your government. And let us remember that The Department of Labor, that means OBAMA and the Federal Government, is trying to do the same thing.
Sure, they can do it. If you let them.
But you will not get a $15 minimum wage if you're currently making under $10. You are very likely, in fact more than half-likely, to get zero instead because the company you work for will either fire you, replace you with a computer if it can, or cut back your hours dramatically.
Welcome to this thing called arithmetic folks, and for those of you who thought you could cram this down employer's throats, no, you can't, for the simple reason that for most employers labor is one of, if not the largest cost of their operation. Adding 30% or more to that operating cost will turn a profit into a loss at which point the company ultimately goes out of business and then you no longer have a job.
Stupidity has a price -- in this case the price is that you get to live under a freeway overpass.
http://market-ticker.org/akcs-www?post=229635
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