I wrote about the
long term problems with minimum wage before:
There are businesses that run at very high profit margins on their final product. It is completely false to claim that somehow raising the wages of workers who put together say Nike sneakers would push prices of Nike sneakers up. The only reason why Nike sneakers would go up in price would be because Nike was protecting it's profit margins. Smaller mom and pop stores would have larger problems with large increases in wages. [my current underlines]
And now
the shoe drops:
On February 1, San Francisco’s renowned science-fiction bookstore Borderlands Books published the following on its website:
Although all of us at Borderlands support the concept of a living wage in princip[le] and we believe that it’s possible that the new law will be good for San Francisco — Borderlands Books as it exists is not a financially viable business if subject to that minimum wage. Consequently we will be closing our doors no later than March 31st.
Oh whoops.
Hibbs says that the $15-an-hour minimum wage will require a staggering $80,000 in extra revenue annually. “I was appalled!” he says. “My jaw dropped. Eighty-thousand a year! I didn’t know that. I thought we were talking a small amount of money, something I could absorb.” He runs a tight operation already, he says. Comix Experience is open ten hours a day, seven days a week, with usually just one employee at each store at a time. It’s not viable to cut hours, he says, because his slowest hours are in the middle of the day. And he can’t raise prices, because comic books and graphic novels have their retail prices printed on the cover.
Oh suck it up you one-percenter evil patriarchal capitalist pig!
Oh how I hate dealing with short sighted people with more power than intelligence.
