COLOR ME SHOCKED: Minimum wage hikes are causing restaurants to close, costing jobs

The left will never tell you this. ​AOC’s own previous employer “The Coffee Shop” closed because of the rise in minimum wage:

www.forbes.com/sites/maggiemcgrath/2018/10/12/remembering-the-coffee-shop-a-new-york-institution-is-closing-after-28-years/#2e2cb1ae10a0

Quotes from the Forbes article:

New York’s minimum wage law would have added $46,000 a month to his labor costs in 2019. Milite said: “I know it doesn’t sound like much — $2 an hour. But when you multiply it by 40 hours, by 130 people, it becomes a big number. It was going to increase our monthly payroll $46,000.”

And yet, even this high level of sales wasn’t enough to inoculate the business from the rising cost of rent and wages in New York. Coffee Shop co-owner and president Charlies Milite told Forbes that rent had become “unusually high,” accounting for close to 27% of the restaurant’s gross revenues. Add in the scheduled $2-per-hour minimum wage hike set to take place on December 31—an increase that, across Coffee Shop’s 150 employees and multiple dayparts of service, would have added $46,000 to the monthly payroll—made it impossible to break even by cutting costs elsewhere.

Also the CBO study estimates anywhere between 1.3-3.7 million job losses if the minimum wage increased. Source:

www.forbes.com/sites/niallmccarthy/2019/07/15/report-a-15-minimum-wage-could-lead-to-more-than-a-million-job-losses-by-2025-infographic/#27fee03460cd

Also why are we doing this from a federal level instead of state level? Cost of living vastly different. SF vs Texas.

Some people might get a small raise while others will get a 100% decrease.

 

 

h/t iRubGuacOnMyArmpits