http://dailysignal.com/2015/02/03/books ... wage-hike/
http://borderlands-books.blogspot.com/2 ... march.html
Increasing minimum wage means cost of doing business increases, which means that unless sales increase, prices increase.
Prices for some businesses -cannot- increase, either because they are forcibly set by distributors (as in the book market) or other forces prevent it (such as competition with larger chains that can afford the losses).
One thing that would really help a lot of low-income workers and would actually make sense would be to stop exempting tipped workers from existing minimum-wage laws.
--
Sucrose Octanitrate.
Proof positive that with sufficient motivation, you can make anything explode.
http://borderlands-books.blogspot.com/2 ... march.html
Quote:... through all those challenges, we've managed to find a way forward and 2014 was the best year we've ever had. The credit for that achievement goes to the fine and extraordinary group of people who have come together to work here. Their hard work, combined with the flawless execution and attention to detail provided by Jude Feldman, Borderlands' General Manager, is the reason we've succeeded for these past 18 years.
...
In November, San Francisco voters overwhelmingly passed a measure that will increase the minimum wage within the city to $15 per hour by 2018. Although all of us at Borderlands support the concept of a living wage in principal 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.
...
The change in minimum wage will mean our payroll will increase roughly 39%. That increase will in turn bring up our total operating expenses by 18%. To make up for that expense, we would need to increase our sales by a minimum of 20%. We do not believe that is a realistic possibility for a bookstore in San Francisco at this time.
Increasing minimum wage means cost of doing business increases, which means that unless sales increase, prices increase.
Prices for some businesses -cannot- increase, either because they are forcibly set by distributors (as in the book market) or other forces prevent it (such as competition with larger chains that can afford the losses).
One thing that would really help a lot of low-income workers and would actually make sense would be to stop exempting tipped workers from existing minimum-wage laws.
--
Sucrose Octanitrate.
Proof positive that with sufficient motivation, you can make anything explode.