Min Wage Hikes Hurting Business


#1

as the most basic common sense would dictate

“Boston’s iconic restaurant Durgin-Park in Faneuil Hall was forced to shutter its doors in January after nearly two centuries in business. The owners said they couldn’t keep up with the wages and health care premium hikes.”

more ill effects of this leftist lunacy here:

i’ve always been against the minimum wage, let alone artificial “hikes” of it as promoted by looney leftists who hate success in business, like premier dingbat AOC.

I call this political because of how much it is politicized by the socialist economic idiot left politicians who support it.

what do YOU think the min wage should be?

why not make it $ 100 an hour?

thats a good “living wage” right?


#2

“Ark Restaurants, which purchased Durgin-Park in 2007, confirmed the closure to Boston.com.”

This restaurant was bought within the last 10 years, corporatized, and apparently not very good these days. Three stars on Yelp? No thanks…

“Weinstein also stressed that the decline in customers has been a major issue, and said that he believes the newer, younger Seaport has been taking a lot of business from Faneuil Hall.”

So the reality is they just were no longer appealing in 2019, and lost customers to competition.

But the company that owned them 1/19th of their history blames a political scapegoat, and not themselves, the entity that put them out of business less than 10 years… sure.


#3

The business owners should pull themselves up by their bootstraps and figure out how to run a business while paying employees decent wages.


#4

minimum wage should at least be like 1,000 dollars an hour.
Then and only then, will people be able to make a living.

Of course then the cost of living would go up also, and it would devalue the American
dollar.

Hey! This sounds familiar??? Sounds like Liberal Democrat Socialist Agenda to me!
They’re heading in the right direction for Socialism then.

Venezuela, here I come! lol.


#7

Every business that ever “went under” did so because they can no longer pay their employees wages.

Its not unique to them, simply reflects they had too few customers, and a stupid premise.


#8

So I guess we need a permanent underclass of low wage workers to keep down inflation.


#10

Workers struggle for decades to make ends meet, have to make cuts, go into personal debt. Republicans dont give a ■■■■■ But some business owners struggle to pay decent wages and its throw a fit time.


#11

All fun and games as long as your customers will pay the increased prices that need to be charged to cover the extra costs of the decetn wage. Many people won’t so they stop going to the place and then guess what happens. Same results. Damned if you do damned if you don’t.


#12

And its all fun and games for employers until the government stops subsidizing their low pay to employees. You want people off welfare quit subsidizes wages for employers


#13

An americans have been trained to want the lowest price possible and won’t pay the highter prices. Yet at the same time we want more pay. They are at odds with each other.


#14

Only because those at the very top refuse to accept lower profit margins


#15

There are more than a dozen different factors that go into running a profitable restaurant. Most of them within the control of the company, a few of them not.

Using labor rate as an excuse for closing is simply a poor excuse.

Starbucks sells cups of coffee for $5+ each for a product any consumer could make at home for less than a dollar. Someone mentioned what happens when people stop going to a restaurant because they had to increase their prices because of minimum wage hikes.

How about that restaurant start doing a better job controling their food costs which at poorly run restaurants go above 40% or more of revenue.

How about they prepare a product that people actually will pay the menu price for.

So many other controllable aspects but the easy one to complain about is labor.


#16

Personal responsibility only applies to the struggling worker


#17

So your saying the owners of these businesses (in this thread) did that? Took excessive proffits at the expense of the workers?


#18

No. I was responding to your general macroeconomic assertions with another general macroeconomic assertion.


#19

Sadly, alcohol and low wages keep many of these places afloat. The restaurant business simply doesn’t have a high profit margin. Everything from fast food franchises to restaurants, to diners, location is what usually makes or breaks them. Since most aren’t in prime locations they are most likely treading water. I’m of the opinion there are too many of them out there right now.


#20

Yeah! Then it won’t be subsidizing, it’ll be out right supporting them! :fist: Attica! Attica!


#21

Reminds me of promises to bring back manufacturing.

No one needs to be trained to want to pay lower prices. Generally speaking.


#22

does it help a struggling restaurant (assuming true) to be hit with such a mandated wage increase?


#23

perhaps you would have a different perspective if you actually ran a razor thin profit margin restaurant. or actually knew anything about it.