This is in a slideshow format, but summarizes many of the arguments that I have been making on the topic of the CA raise in the minimum wage in the fast food industry:
https://www.msn.com/en-us/money/markets/california-under-fire-for-layoffs-after-minimum-wage-raise/ss-AA1nn0mp?ocid=winp2fptaskbar&cvid=385eb89319f343dbb0f1ef241e10d9a7&ei=9#image=15quotes from that source:
The hesitance to acknowledge this reality, even from prominent figures like the CEO of Raising Cane's, sheds light on California's economic predicament. It appears that many individuals in the state either lack a grasp of fundamental economic principles or are reluctant to address them openly.
The impact of the legislation is particularly evident in the increasing number of workers who have been laid off as a result, with more expected to face the same fate soon.
Price adjustments
© Source: CNN
Moreover, these price adjustments occurred within a mere two days of the law's enforcement, suggesting that further increases are likely on the horizon.
I did not make this point, but it is still valid:
Despite some advocates
© Source: Pixabay
Despite some advocates downplaying these price increases on social media, arguing that 25 cents to a dollar isn't significant, they overlook the fact that these hikes represent a substantial percentage of the item's total price.
Democratic ideals
© Source: Pixabay
California serves as a testing ground for Democratic ideals, akin to other cities like Baltimore, Selma, Detroit, and Oakland. The recent increase in the minimum wage for certain fast-food workers to $20 per hour, a 25% raise from $16, reflects this unchecked power, prompting many to question the state's direction and leading some residents to consider leaving.
and more problems for California:
California is facing a budget crisis with a projected record deficit of $73 billion, as reported by the Legislative Analyst’s Office.
The deficit increase is attributed to a $24 billion revenue erosion, leading to a $15 billion rise in the budget problem.
“The actual increase in the state’s budget problem will depend on a number of factors, including formula-driven spending changes, most notably Proposition 98 spending requirements for schools and community colleges,” the report read. (...)
The state’s population has been declining, with many residents leaving for states like Texas, Arizona, Florida, and Washington.
https://www.msn.com/en-us/news/us/californians-learn-consequence-of-newsom-s-spending-spree/ar-AA1nmBC3?ocid=msedgntp&pc=HCTS&cvid=6406ce8af892482ad1d6f0a4ca03b935&ei=8I will wait (but not hold my breath) for petty rat to explain why people are leaving CA for Red States.
