There are consequences to this whole minimum wage hike thing? Say it isn’t so!The conservative site for hyperbolic news, The Blaze, and anonymous reporter at Chicks on the Right "Red Blaze," have an amazing ability to read "between the lines."
Let's take a look at what is being described as an outrageous Chipotle food price hike possibly due to the new $12.25 an hour minimum wage in San Francisco. (Full disclosure, I always thought Chipotle prices were way too high to begin with):
Not too long ago, 77 percent of San Franciscans voted to gradually raise the minimum wage to $15 an hour over the course of four years. Now, Hillary’s favorite burrito joint is adjusting things to survive. Investors Business Daily reports that Chipotle raised prices in San Francisco “as much as 14.4%, after the city raised its minimum wage by 14%, according to an analyst. William Blair's Sharon Zackfia said in a client note "We believe the outsized San Francisco price hike was likely because of increased minimum wages (which rose from $10.74 per hour to $12.25 on May 1) as well as scheduled minimum wage increases in future years," Zackfia said in the report.Analyst Zackfia "believed" it "was likely" the reason behind the price hikes. Or perhaps there's another "part" to consider?
Chris Arnold, a spokesman for Chipotle, said that the company raised the prices “in part to offset higher labor costs.” Pricing at Chipotles nationwide vary due to the cost of doing business, he said.And the other part...profit maybe?
Like I said, I stopped going to Chipotle because I thought the prices were too high. That was my choice. But apparently, Chicks on the Right writer Red Blaze doesn't have a choice, and is being forced to eat there...getting screwed too:
|Not at $20...|
That's what happens when you force companies to #RaiseTheWage. They pass the burden off to consumers. We're the ones getting screwed.Gee, please stop forcing (too afraid to use their real name) Red Blaze to eat at Chipotle, before she goes broke, and the minimum wage goes up to $13 an hour next year...
Can you say $20 burrito?