Why does the left not care that they turn everything they touch to, well... crap?
The Daily Signal "As thousands of fast-food workers participate in strikes today pushing for their wages to be raised to $15 an hour, it’s important to remember the consequences that such a steep raise could have.
"According to a new report released today by James Sherk, a labor policy expert at The Heritage Foundation, such an increase could result in fewer hours of work overall at fast-food restaurants and higher prices for all.
The Daily Signal "As thousands of fast-food workers participate in strikes today pushing for their wages to be raised to $15 an hour, it’s important to remember the consequences that such a steep raise could have.
"According to a new report released today by James Sherk, a labor policy expert at The Heritage Foundation, such an increase could result in fewer hours of work overall at fast-food restaurants and higher prices for all.
Higher Fast-Food Wages: Higher Fast-Food Prices "Union activists want to raise the minimum wage in the fast-food industry to $15 an hour. However, fast-food restaurants operate on very small profit margins; they could only afford such wages by raising prices—significantly. Higher prices would, in turn, drive customers away, forcing even larger price increases to cover costs. Ultimately, the average fast-food restaurant would have to raise prices by nearly two-fifths. This would cause sales to drop by more than one-third, and profits to fall by more than three-quarters. Absent the widespread adoption of labor-saving technology, the union-led “Fight for 15” would make fast food much more expensive for Americans."
James Sherk Senior Policy Analyst in Labor Economics
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