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Topic	House votes to raise minimum wage to $15/hour by 2025
darkjedilink 07/18/19 6:44:12 PM #95:	Broseph_Stalin posted... darkjedilink posted... I used to actually read the P&L statements at restaurants as part of my job. Doubling the minimum wage over the next five years will close restaurants. It already HAS in cities where they've implemented it - the restaurant AOC worked at closed due to minimum wage increases. Like, did you know that? Did you know that the restaurant AOC worked at closed due to minimum wage? I'm glad you keep bringing up restaurants since one of the most important studies done on the minimum wage looked at them specifically: http://davidcard.berkeley.edu/papers/njmin-aer.pdf tl;dr, New Jersey increases minimum wage while Pennsylvania doesn't. The study found that NJ had no relative unemployment increase. Other studies have all found the same thing, MW increases have little to no effect on employment levels: https://escholarship.org/uc/item/86w5m90m https://www.sole-jole.org/17722.pdf Again, AOC's own former employer closed up shop. Every fast food restaurant will either have to raise prices or close. I know, because I've seen the balance sheet. --- 'It's okay that those gangbangers stole all my personal belongings and cash at gunpoint, cuz they're building a rec center!' - OneTimeBen <cite>darkjedilink posted [p:924872127] in House vote... [t:77872603]...</cite> <quote><cite>Broseph_Stalin posted...</cite> <quote><cite>darkjedilink posted...</cite> <quote>I used to actually read the P&L statements at restaurants as part of my job. Doubling the minimum wage over the next five years will close restaurants. It already HAS in cities where they've implemented it - the restaurant AOC worked at closed due to minimum wage increases. Like, did you know that? Did you know that the restaurant AOC worked at closed due to minimum wage?</quote> I'm glad you keep bringing up restaurants since one of the most important studies done on the minimum wage looked at them specifically: http://davidcard.berkeley.edu/papers/njmin-aer.pdf tl;dr, New Jersey increases minimum wage while Pennsylvania doesn't. The study found that NJ had no relative unemployment increase. Other studies have all found the same thing, MW increases have little to no effect on employment levels: https://escholarship.org/uc/item/86w5m90m https://www.sole-jole.org/17722.pdf</quote> Again, AOC's own former employer closed up shop. Every fast food restaurant will either have to raise prices or close. I know, because I've seen the balance sheet. --- 'It's okay that those gangbangers stole all my personal belongings and cash at gunpoint, cuz they're building a rec center!' - OneTimeBen</quote> ... Copied to Clipboard!
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