person who cannot do math
How so, or what is your host ranting about this time? Simple; our friend Mitch references the results of a Seattle initiative to raise the minimum wage to $15/hour. Not surprisingly, a number of restauranteurs, facing a 60% increase in wages that already take up 36% of restaurant revenues, decided that they would close their doors rather than risk their already lean (4% on average) profit margins.
The kicker, in my view, is the liberal view that "businesses would simply pay the mandated wage out of profits, raising earnings for workers". Sorry, folks, but a 60% hike in wages from 36% of revenue can't come out of a 4% profit margin. And therefore a lot of low wage workers in Seattle are losing their jobs, which suggests another definition for "liberal".
person who talks a lot about helping the poor while doing things that hurt them, aided and abetted by an inability to do math or understand the basics of accounting
"The ballot box, the jury box, and the cartridge box" - Frederick Douglass: a good revolver and a box of ammo Excerpt: The more I read about Frederick Douglass, the more I like him. His white master’s wife ...
4 hours ago