Re:Seattle: Highest Minimum Wage, Lowest Unemployment Rate
by JoeAltmaier on Sunday October 30, 2016 @12:30PM
(#12830653)
All will have the same labor costs. Minimum wage has gone up before; there are still coffee shops.
Its easy to play 'dot-to-dot' with these things - higher cost means lower sales means people fired. OR more money in the working class pocket means more coffee purchases means more hiring. You can connect-the-dots lots of ways.
The truth is, some of everything happens, and then it settles down into something workable. Yes we'll pay more for our coffee, but we'll also have more money in our pockets. And so on.
Its easy to play 'dot-to-dot' with these things - higher cost means lower sales means people fired. OR more money in the working class pocket means more coffee purchases means more hiring. You can connect-the-dots lots of ways.
The truth is, some of everything happens, and then it settles down into something workable. Yes we'll pay more for our coffee, but we'll also have more money in our pockets. And so on.