Watercooler 8/29/2016 Open Thread: Something for Nothing

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In D.C., The Minimum Wage Goes Up And Jobs Go Down

That is, demand curves really do slope downwards, people tend to purchase less of something which becomes more expensive. Raise wages and employers will buy less labor. This is not a difficult concept although it does seem to be beyond half of politics and very much too many politicians.

Minimum Wage Claims Its Latest Victims – Ashley Furniture Slashes 840 Jobs In California

Clearly the implementation of a State-wide $15 minimum wage hasn’t helped “lure” business owners. On Friday, Ashley Furniture’s 840 employees working in the company’s production and warehouse facility in Colton, California became the latest victims of California’s minimum wage hike.  Ashley announced they would be leaving open their retail store in Colton, but would be relocating the production facility that accounts for most of the location’s jobs.

And, a quick peek down the ol’ memory hole…

Gov. Brown Admits $15 Minimum Wage Does Not Make Economic Sense, Approves It Anyway

California Gov. Jerry Brown simply does not care about what will happen to citizens in non-urban parts of the state under a $15 minimum wage. He didn’t literally say that, but what he did say when today was that he understood that there may be some bad outcomes for such a massive, unprecedented mandate. And then he signed it into law anyway.

Regardless of who or where the story is, you still spell “doofus” one way!

Enjoy the open thread…