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
48 Hours - We’ve fallen a little behind on our World War I series. Over the next few months, we’re going to work to get caught-up to the calendar. After a year that ...
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