Chipotle Raised Its Minimum Wage to $15 and Now It's Biting Customers in the Burrito
By Brandon Morse | Jun 09, 2021 12:00 PM ET
Basic economics doesn’t change because a political movement wants it to. It’s a finite world with finite resources, and when you move one number, it affects other numbers. This simple rule of economics cannot be overcome. In order to put more money into one thing, you first have to give it up, and in order to balance the sheets, more money has to come in from somewhere to compensate.
It’s a simple rule the Left misses far too often. The phrase “money doesn’t grow on trees” is factual but unheaded. This is why no one should be surprised that Chipotle is now raising its prices as its caves to demands to raise its minimum wage to $15/hr.
According to Fox Business, the burrito chain is raising its prices by four percent in order to compensate for its wage hikes.
“It made sense in this scenario to invest in our employees and get these restaurants staffed and make sure that we have the pipeline of people to support our growth,” Chipotle CEO Brian Niccol said. “And then with that, we’ve taken some pricing to cover some of that investment.”
This could push some burritos into the $8 range that many already thought was overpriced.
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https://redstate.com/brandon_morse/2021/06/09/chipotle-raised-their-minimum-wage-to-15-and-now-its-biting-customers-in-the-burrito-n393843
