You gotta love politicians who think businesses -- big and small -- will just eat losses when they push through minimum wage hikes.
Not only could these politicians not turn a profit on a lemonade stand, they also think they're the champions of the little guy when their policies hurt the little guy more than anyone.
Case in point, California.
The minimum wage hike isn't going to cut into the profits of businesses.
Those costs are going to be passed along to the consumer.
Chipotle says to expect ‘substantial’ price increases in California after minimum wage hike https://t.co/MpljF0jxhL pic.twitter.com/vxk7WExIF4
— New York Post (@nypost) February 8, 2024
More from The New York Post:
Chipotle customers in California should prepare for “significant” price hikes after the state recently approved minimum wage increases for fast food workers, one of the company’s top executives told shareholders this week.
Jack Hartung, Chipotle’s chief financial and administrative officer, told investors on an earnings call on Tuesday that the price hikes are necessary to keep up with increasing labor costs.
“We know we have to take something as a significant increase when you talk about a 20%-ish increase in wages,” Hartung said.
California’s new minimum wage law, which pays fast food workers $20 an hour, is set to go into effect in April.
Just incredible.
Liberals when they discover the consequences of their foolish policies: pic.twitter.com/vdzblureCf
— Brian Doherty (@BDOH) February 8, 2024
It's like the Hindenburg and the Titanic had a baby.
We can make the exact same stuff at home without the hefty price tag
— Un-Elected Politician (@UnElectedOffice) February 8, 2024
Recommended
Yep. And people will.
It's always going to have this effect. Whenever you say "tax the rich" in reality you're saying, raise prices , raise rent , raise cost for the poor , or did you actually think these companies are going to absorb the minimum wage cost ?
— Joel Alfonso (@JoelAlfonsoLA) February 8, 2024
California
MC Donald's
Chipotle
They don't care.
They'll shrug off their $30 subpar burrito bowl as they try to convince themselves it makes lives for poor people better
— Tamias (@Tamias1000) February 9, 2024
But with the $30 burrito bowl, the people who work at Chipotle can't afford to eat there. Because the prices go up.
The solution is simple. Yo the minimum wage even more so the people can afford it again.
— jez (@MoxmoJez) February 8, 2024
Wash, rinse, repeat.
https://t.co/crU2qdwRrp pic.twitter.com/mJEEighs8W
— Blame Big Government (@BlameBigGovt) February 8, 2024
That guy.
The article says there are already $18 Big Mac meals at McD’s & the minimum wage will increase to $20/hr in April.
— 🔴 P𝕠𝐔𝔫Ⓒ𝓔г (@bloodless_coup) February 9, 2024
And evidently Chipotle’s burritos in CA are now $11, so… https://t.co/ZMIWNR1e9Z
$18 for a Big Mac?
Hard pass.
THAT'S CRAZY TALK! https://t.co/wyJEM6htZ8
— Pradheep J. Shanker (@Neoavatara) February 8, 2024
Right? It's like the economy has laws or something.
A price increase?
— Noah Fence (@tilh16) February 8, 2024
Newsom- https://t.co/f8Pz5nHKuu pic.twitter.com/f1RwPbTTLc
A guy who can eat at The French Laundry doesn't care what the price of food is.
$40 for a bowl of beans and rice. It's equity. https://t.co/Hmy2gGVn3F
— Heidi (@HeidiBriones) February 8, 2024
'Equity.'
Directly proportional to the minimum wage increase.
— .🇺🇸 SGT Valadez 𝕏 (@SGTValadez) February 8, 2024
Basic math that liberals cannot comprehend. https://t.co/HIMJZ6vXi2
Because math is racist. Or something.
Homes in California cost close to $1000/sqft, I'm sure those $20/hr minimum wage workers will eventually catch up to that inflation https://t.co/eAYasdWLnx
— Tamias (@Tamias1000) February 9, 2024
Of course. In a few hundred years.
I LOVE when liberalism eventually bites liberals in the ass https://t.co/5mLmcdzq6z
— Will. Power - Dragon🔥🔥 Truth Bringer (@KIR_bigg50) February 8, 2024
But when it does, they blame Republicans.
As I said, eating out, even at these fast casual places, will become too expensive and of no value anymore. Make your own fried rice at home and meal prep. https://t.co/qxkfd5JTFi
— Ultra Dano (@SuisunDan) February 8, 2024
And when that happens, as it will, employees will be let go and stores will close. Whoops.
Congratulations California, your minimum wage increase gained you absolutely nothing but is causing your state to become so expensive to visit that it’s killing your tourism industry and making it impossible for outsiders to move there https://t.co/BPfNApKiwj
— K!LLA CAM 🇺🇸 (@killaxxxcam) February 8, 2024
California: Come for the outrageous politics, stay for the exorbitant prices. What a slogan.
"But dats just corpurut greed!" 🤡 https://t.co/s8f3fkYURB
— Kicksnuttson Junior (@AMacaban4216) February 8, 2024
Lots of that in the comments.
keep raising min wage as a solution and you'll get more of this. https://t.co/9bathJq1zq
— AlwaysKnocking (@AlwaysKnocking) February 9, 2024
Yep. And eventually, these stores will go automated or close entirely and that'll be your reminder that the minimum wage is, invariably, zero.
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