So stupidly obvious that the English major was telling you* this would happen ahead of time. That’s really stupidly obvious, for those following at home: we’re widely known for being not very good at math. At any rate, let us go now to AEI, which is shaking its darn head over what happened to Chipotle restaurants in San Francisco:
• San Francisco, however, saw across-the-board price increases averaging over 10%, including 10% increases on chicken, carnitas (pork), sofritas (tofu), and vegetarian entrees along with a 14% increase on steak and barbacoa.We believe the outsized San Francisco price hike was likely because of increased minimum wages (which rose by 14% from $10.74 per hour to $12.25 on May 1) as well as scheduled minimum wage increases in future years (to $13 next year, $14 in 2017, and $15 in 2018).
As AEI goes on to note, this is not really surprising at all. The fiscal illiterates that make up the higher minimum wage advocacy movement have always operated under a particular, peculiar religious dogma: they truly believe that Capitalist Demons steal all of the People’s Money – and then eat it, or something. Look, I don’t really need to waste valuable brain space on a third-rate theology that can’t even exist on its own outside of academic greenhouses, OK? Suffice it to say that these people don’t know anything about how businesses operate, but still think that they do. As you can see, plug in that combination of reckless confidence and slack-jawed idiocy into a convenient Blue State government matrix, and voila! – You get bad, self-defeating policy.
Moral of the story? Well, for one thing: if you’re going to San Francisco… pack a lunch. It’s not just cheaper: it’s smarter, too.
(Image derived via Shutterstock)
Moe Lane (crosspost)