Raising the minimum wage is a formula for causing unemployment among the least-skilled members of society. The higher wages are, the higher costs of production are. The higher costs of production are, the higher prices are. The higher prices are, the smaller are the quantities of goods and services demanded and the number of workers employed in producing them. These are all propositions of elementary economics that you and the President should well know. Ludwig Von Mises

Predictable.

No matter how much you squeeze it, or manipulate it, one plus one equals two. Raise wages inordinately high for the type of job means: A) Prices go up, people can afford less, business slacks off, workers are laid off. or B) Prices remain the same but profits diminish and the business in order to maintain its margin, workers are laid off. or C) The business tries to keep going as it had before and goes bankrupt. Workers are laid off. 1+1=2.

Lol. Yup.

Can we all say, "I told you so!"

This just another example of how ignorant liberals are of fundamental economic principals. In this sense liberals are mystics. To a liberal-progressive economics is a form of magic that can be manipulated by the proper incantation. There is a direct correlation between increases in minimum wage and the decline in the value of the dollar. One needs to examine this to reveal which is cause and which is effect.

the headline says it all. as we know the economy is the pits at the moment and not looking like it will be getting better anytime soon. so having a higher minimum wage means less jobs being offered, anyone surprised? probably not here.
it really makes no difference how government failure keep demonstrating that their policies are failures those who want these changes will simply not ever give up trying to enforce their stupidy on all of us.

But that's is precisely what the government has sold them as so they can maintain their slave class of welfare-dependents. Those who move up into the middle class by working hard just see the taxes they have to pay and are generally less supportive of big government.

The business world has know this for a long time. The minimum wage is the maximum the free market will allow for any job, anything above that is overpayment. These were always part-time, summer, or after school jobs, never meant to be permanent employment.

Atlas Shrugged, but also from the Soviet reality. Interestingly, they do that in Israel today - a truck driver is allowed to travel only a very limited number of hours by himself (in a tiny country), in practice necessitating that two drivers make deliveries that one person can easily do.

Yup. Right out of Atlas Shrugged.

At least there is still buying from China. That window will close also, but in the meantime I have converted 70% of our materials and subassemblies to chinese origin. Otherwise, BK would be the result- no choice really.

If only the others would learn instead of following them like lemmings. We wouldn't have Obamacare if people had actually looked at what government healthcare in Massachusetts had actually morphed into and what a dismal failure it is.

And good for Walmart. They're in the most price-sensitive markets - that's what politicians just refuse to comprehend. The businesses which operate on high margins don't really care about the minimum wage because all their people make more than that anyway. It is the tiny margin companies - those like grocery stores and restaurants that live or die on 1-2% margins where their biggest costs are merchandise transport expenses (fuel costs) and labor costs.

Can't hire people, can't hire robots, time to go Galt.

The Progressive response will be mandating limits on the work performed by the minimum wage employees, like limiting a waiter to carrying only one dish at a time, thus forcing restaurants to hire three waiters instead of one. Of course, the restaurants will start closing and that's when the executive order will be made requiring them to stay in "business." It's just a matter of time.

D.C. required higher minimum wage for Walmart..Walmart gave them the finger...

I just was accosted by the local property tax people who now want 1% per year for all business equipment I buy (including robots). Government is the enemy now. I want to cut employees, so they charge me for robots.

Well I do like to see the bright side of things. More robots means more demand for manufacturing and we will need a few people to repair the robots.