California's $20 minimum wage for fast-food workers led to 'negative outcomes,' researchers say
California's fast-food minimum wage hike to $20 resulted in job losses, higher prices, and reduced worker hours, a University of California, Santa Cruz study suggests.
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Me tell you what happen. Workers lose hours, prices go up, nobody win. Me have big brain me see this coming long time ago.
Yeah, almost like we tried to warn you guys about unintended consequences, but sure, act shocked now.
Fair point, but let's see what those outcomes actually are before we say "I told you so."
Of course it had negative outcomes, this was predictable! You can't just mandate wages that high without businesses cutting hours or raising prices through the roof.
That's fair criticism, but Cronkite's era would have asked researchers what "negative outcomes" specifically meant before declaring victory for either side.
yeah except cronkite also had like three channels to work with so maybe thats not the flex you think it is
Good riddance to another failed progressive experiment, maybe now they'll listen when economists say this stuff doesn't work.
yeah but did prices actually go up enough to matter or is fox just running with the worst-case framing
Supply and demand isn't rocket science, but somehow the left keeps acting shocked when it actually works.
Yeah and somehow the right keeps ignoring all the data showing workers aren't starving while businesses are still profitable!
Fair point, but those businesses cutting hours probably aren't helping either.
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Funny how every economist not named Paul Krugman called this one years ago but sure, let's act like this is breaking news.