Author Topic: The Minimum-Wage Job-Killer Strikes Again!  (Read 628 times)

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Offline SirLinksALot

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The Minimum-Wage Job-Killer Strikes Again!
« on: June 26, 2017, 02:36:48 pm »
SOURCE: INVESTORS BUSINESS DAILY

URL: http://www.investors.com/politics/editorials/the-minimum-wage-job-killer-strikes-again/



 McDonald's stock has hit new highs in recent days, despite fast-food industry woes. Why? Mickey-D's is replacing 2,500 human workers with digital kiosks this year. Way to go, minimum-wage advocates!

Working from the absurd idea that if higher wages are good for individual workers, it must be socially beneficial to have government order all employers to pay their workers more, progressives and other leftists have had extraordinary success in forcing small businesses to pay higher minimum wages.

Big Mac's stock is up 27% this year. Why? Pushed by concerns over a rising minimum wage, the fast-food chain is replacing human cashiers as fast as it can. But it really has no choice.

By the end of 2017, it plans to have digital cashiers in 2,500 restaurants; by 2018, another 3,000 restaurants will go digital. They're also going to let you order via mobile device at 14,000 restaurants by year end. McDonald's calls it the "Experience of the Future" strategy.

That's thousands of workers gone. That's no future jobs for young people with no skills, no training, no education and no alternative who might have found a job at McDonald's.

Don't blame Ronald McDonald. This is the inevitable result of the minimum wage, pushed down business' throats by politicians using the phony language of compassion and economic equality.

Since 2012, the labor-union driven "Fight For $15" movement to raise the federal minimum wage from the current $7.25 an hour to $15 an hour has demonized employers like McDonald's, Wal-Mart and Starbucks, among many others, for not paying workers "enough." Responding to this, Democrats in Congress now have 184 co-sponsors for a bill to do just that. Cities and states around the country have jacked up their own minimum wages.

But the fears that McDonald's and others have are real. Most franchises are owned by individuals, not corporations, and often operate on a slim profit margin. Since labor is two-thirds or more of costs, a doubling of the minimum wage would be ruinous for many franchisees.

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Offline Machiavelli

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Re: The Minimum-Wage Job-Killer Strikes Again!
« Reply #1 on: June 28, 2017, 05:11:16 pm »