If the minimum wage is $20 per hour, and the company you work for goes out of business, how much do you make? From the Vodka Pundit: Seattle Set Minimum Wage Over $20 and You'll Totally Believe What Happened Next
Bebop Waffle Shop threw a big party on Dec. 31 and permanently locked its doors on Jan. 1. My shocked face was last seen sipping a brandy by the fire and reading a dog-eared copy of Milton Friedman's "Why Government Is the Problem." That's my amusingly wordy way of saying that I totally believe it happened.
Why did Bebop Waffle Shop close? Because they can't afford to pay people $20.76 per hour, and give them an extra week of paid vacation sick leave every year.
My second favorite part of the Seattle Times writeup was when [Seattle Times reporter Jessica] Fu wrote, "Others expect the effect on businesses to be more modest, pointing out that the exact amount of the wage increase has been scheduled since the fall." Jennie Romich, a professor of social welfare policy at the University of Washington, explained, "People knew this was coming."
People knew the giant comet was coming in "Deep Impact," too, and made all kinds of preparations — but it still wiped out the entire Eastern Seaboard. Just because an event is foreseeable doesn't mean its ill effects can be completely mitigated.
The owner of Bebop Waffle Shop knew it was coming, and took appropriate action.
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