Rantings and tirades of a frustrated economist.
Here is no different. They just passed a living wage law for those contracted to do business with the city. Progressives of course are jumping for joy at the prospects of "poor" people making it. Yet by the same token, some of the big honchos employed in government got huge pay raises. One I believe as much as 22,000 last year.Unreal considering that property taxes are being levied at 2006 values. Nary a peep is heard and some are even defending it. How insane.
Apparently, the city's new minimum wage, raised to $10.24 as of Jan. 1, make $5 footlongs an impossible business model.Apparently? I never took Econ in college but even I can grasp the fact that if you have to pay people an arbitrarily determined and inflated wage it's going to cut into your margins at some point.Are all pols, reporters, and proles just functional idiots now?
"Are all pols, reporters, and proles just functional idiots now?"In addition to being 'useful idiots', probably yes.
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