CA lost 10,000 jobs thanks to state’s $20 minimum wage

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Earl

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CA lost 10,000 jobs thanks to state’s $20 minimum wage

California fast food restaurants have cut 10,000 jobs thanks to state’s $20 minimum wage: trade

California fast food restaurants have slashed nearly 10,000 jobs because of the state’s new $20 minimum wage as struggling franchises cut labor costs and raise prices to survive, a major trade group said Thursday.

The California Business and Industrial Alliance (CABIA) slammed Democratic Gov. Gavin Newsom for pushing through the law, which went into effect April 1 – and was blamed for forcing one beloved taco chain to shutter 48 locations in the state last week.

“California businesses have been under total attack and total assault for years,” CABIA president and founder Tom Manzo told Fox Business.




https://nypost.com/2024/06/06/busine...siness-agency/


Elections have consequences as they say.
 
volsrock1 said:

Fast food workers are losing their jobs in California as new minimum wage law takes effect​


www.usatoday.com

Fast food workers are losing their jobs in California as new minimum wage law takes effect

Fast food workers are losing their jobs in California as more restaurant chains prepare to meet the $20 minimum wage increase set to go into effect April 1.
www.usatoday.com
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California is tens of billions in debt under Newsome's guidance and he wants to be President. Let that sink in.
 
ExpressLane said:
California is tens of billions in debt under Newsome's guidance and he wants to be President. Let that sink in.
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This is NOT a defense of Newsom but there is no wanting to be President (outside someone on the Libertarian Party) that is fiscally responsible. You can't get elected that way. (Trump proclaimed we had this most amazing economy yet we still ran $1 trillion deficit, pre-COVID, on his watch.) Americans do not want fiscal resposiblity. Partisans simply don't like when it's the other side doing the spending.

As far the OP, we all saw this coming. It's the trade-off. Those who keep their jobs make more money but overall more jobs are lost (and those that get hurt the most by the increase in wages are the kids and people with less skills as they are less likely to be able to find work).
 
cawacko said:
This is NOT a defense of Newsom but there is no wanting to be President (outside someone on the Libertarian Party) that is fiscally responsible. You can't get elected that way. (Trump proclaimed we had this most amazing economy yet we still ran $1 trillion deficit, pre-COVID, on his watch.) Americans do not want fiscal resposiblity. Partisans simply don't like when it's the other side doing the spending.

As far the OP, we all saw this coming. It's the trade-off. Those who keep their jobs make more money but overall more jobs are lost (and those that get hurt the most by the increase in wages are the kids and people with less skills as they are less likely to be able to find work).
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It shows Newsome went from billions in surplus to billions in debt is a short peroid of time. They only way the US can possibly pull out of debt is by stimulating the economy. We can try to do that by DRILL BABY DRILL it helps to shift the balance of trade into our favor. Trump wants to DRILL BABY DRILL. Biden killed making more LNG plants which killed American jobs and exports to our allies. Newsome and Biden are beholden to the anti fossil fuel lobby Trump isn't.
 
The problem is obvious...

The Left thinks that working fast food is a career because they've been stuck in such a job for years with no alternatives due to their stupidity and lifestyle choices.


The reality is that fast food is a job. It's something you do until you can get a better job that actually is a career. Therefore you don't need to be paid like you are designing airplanes for Boeing...
 
ExpressLane said:
It shows Newsome went from billions in surplus to billions in debt is a short peroid of time. They only way the US can possibly pull out of debt is by stimulating the economy. We can try to do that by DRILL BABY DRILL it helps to shift the balance of trade into our favor. Trump wants to DRILL BABY DRILL. Biden killed making more LNG plants which killed American jobs and exports to our allies. Newsome and Biden are beholden to the anti fossil fuel lobby Trump isn't.
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California relies heavily on the rich for its income. When the economy is good and stock market is rising the state reaps massive rewards in terms of capital gains and we have the massive surpluses you read about. When it's not, we get the massive deficits like we have now.

Drilling for oil is important but that alone doesn't itself bring massive economic growth and fiscal discipline. It doesn't matter if you bring in more revenue if you continue to spend more than you bring in.

Going back to the OP. Rent control is similar to the minimum wage to me. It benefits those who are receiving it but makes renting more expensive for everyone else.
 
cawacko said:
California relies heavily on the rich for its income. When the economy is good and stock market is rising the state reaps massive rewards in terms of capital gains and we have the massive surpluses you read about. When it's not, we get the massive deficits like we have now.

Drilling for oil is important but that alone doesn't itself bring massive economic growth and fiscal discipline. It doesn't matter if you bring in more revenue if you continue to spend more than you bring in.

Going back to the OP. Rent control is similar to the minimum wage to me. It benefits those who are receiving it but makes renting more expensive for everyone else.
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Oh increasing income (Drill Baby Drill) and throwing the credit card (fiscal responsibility) is always the answer to debt relief. I will admit I have never thought of Trump as a conservative or someone who is afraid of debt.
 
ExpressLane said:
Oh increasing income (Drill Baby Drill) and throwing the credit card (fiscal responsibility) is always the answer to debt relief. I will admit I have never thought of Trump as a conservative or someone who is afraid of debt.
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He's a real estate developer. Their whole M.O. is using OPM (other people's money). When the market is good debt amplifies their returns which means big bucks. When the market turns that is no bueno. It's why the old adage about developers that any long-term developer worth his salt has made, and lost, at least one fortune.

As far as monetary policy, and I'm generalizing here, hawks tend to be more conservative leaning and doves tend to be more liberal leaning. But Trump is a huge dove. Many real estate developers/owners love easy money.
 
T. A. Gardner said:
The problem is obvious...

The Left thinks that working fast food is a career because they've been stuck in such a job for years with no alternatives due to their stupidity and lifestyle choices.


The reality is that fast food is a job. It's something you do until you can get a better job that actually is a career. Therefore you don't need to be paid like you are designing airplanes for Boeing...
Click to expand...
Indeed but there are only so many thing you can do with a degree in Gender Studies.
 
cawacko said:
He's a real estate developer. Their whole M.O. is using OPM (other people's money). When the market is good debt amplifies their returns which means big bucks. When the market turns that is no bueno. It's why the old adage about developers that any long-term developer worth his salt has made, and lost, at least one fortune.

As far as monetary policy, and I'm generalizing here, hawks tend to be more conservative leaning and doves tend to be more liberal leaning. But Trump is a huge dove. Many real estate developers/owners love easy money.
Click to expand...
Drilling more means more domestic jobs and more money flowing from other countries to our country. It also means the price of energy falls which affects EVERYTHING. The oil field worker can afford a new truck the automobile worker can afford a new boat the boat manufacturer can buy new furniture..etc etc. Doves don't spend as much on weapons.
 
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