Minimum Wage Hikes Result in McDonalds Closing Doors. We Told You...
The left has been pushing a minimum wage increase, mainly because telling voters "we're going to give you more money" is easier than teaching them about economics and/or reality. If a leftist wants to be particularly panderific, they specify a wage hike on fast food workers, with McDonalds as their most popular whipping post.
The same McDonalds which just announced their WORST financial outlook in 12 years.
Some 29 franchisees, who collectively own and operate 208 McDonald’s restaurants in the United States, were asked to give their six-month forecast from 1 (poor) to 5 (excellent). The average response was 1.69, the lowest in the survey’s 12-year history.
Previously, the lowest rating was 1.81, which was recorded three months ago.
One of the reasons?
Another respondent said, “At least half of the operators in my region are on [the] verge of collapse. With minimum wage for fast food workers potentially increasing to incredibly high levels, we are facing a crisis situation.”
So it would appear that if you take struggling businesses and increase the cost of doing business, it makes it hard for them to do business.
This is no revelation to anybody who's completed a high-school economics course. But we're talking about burger-flippers who think that their burger-flipping is a $15 an hour skill set here. A nutless monkey could do their job. Literally. I've seen a Chimpanzee ride a segway.
Also, this is an important time to note that this precisely is why we are a Constitutional Republic and not a democracy. Democracy is mob-rule. Our founding fathers were very concerned about the mob majority simply voting in their own self interests. Parasites that will inevitably devour their host, if you will.
Unfortunately, modern politics and particularly the Democratic party has placed us in the same quandary. In order to ensure votes, they need to appeal to the lowest common denominator, the non-contributors, the parasites... and promise them the world.
Let's just start with a $15 minimum wage. Non-performance based of course.