Some restaurants face pressure to trim menus and staffs under California's wage hike

[werepossum]

I literally linked the resource from BLS that shows ground beef is not substituted for steak in CPI.

The fact that you're going to call that one of the stupidest things ever posted while it was directly contradicted by the source already provided is absolutely hilarious.

Again, the combination of arrogance and total stupidity is so, so good. You're so dumb yet so convinced of how smart you are.

Okay, let me be more clear. You AND the BLS statistic are stupid. Jeez. This is why folks say there are lies, damned lies, and statistics.

Just out of morbid curiosity, let's examine how that works in Eskimospy world. You are a median wage worker. You have a weekly food budget of $120 for your family. From that budget, you eat steaks once every two weeks, preferably sirloin. Sirloin steak jumps from $6/pound to $9/pound, which for three pounds uncooked means an extra $9 for that meal. Do you:
A. Look for a cheaper food to substitute.
B. Look for a cheaper cut of steak to substitute.
C. Cut $6 somewhere else (i.e. still reduce the quality of your food.)
D. Get a $9 voucher from the BLS Meat Fairy.
E. Argue with the butcher that inflation is only 2% and therefore you expect to pay no more than $6.46/pound, since last trip you paid only $6/pound.
F. Demand a $3/week raise from your employer.
G. Add another $6 to your debt.

You've gone from insisting that the federal government can spend as much as it wants without ever being accountable to insisting that the average consumer also can spend as much as she wants without ever being accountable. The real world doesn't work like that. In the real world, when wages are flat and prices are not, people have to cut back.

 

[fskimospy]

Okay, let me be more clear. You AND the BLS statistic are stupid. Jeez. This is why folks say there are lies, damned lies, and statistics.

Just out of morbid curiosity, let's examine how that works in Eskimospy world. You are a median wage worker. You have a weekly food budget of $120 for your family. From that budget, you eat steaks once every two weeks, preferably sirloin. Sirloin steak jumps from $6/pound to $9/pound, which for three pounds uncooked means an extra $9 for that meal. Do you:
A. Look for a cheaper food to substitute.
B. Look for a cheaper cut of steak to substitute.
C. Cut $6 somewhere else (i.e. still reduce the quality of your food.)
D. Get a $9 voucher from the BLS Meat Fairy.
E. Argue with the butcher that inflation is only 2% and therefore you expect to pay no more than $6.46/pound, since last trip you paid only $6/pound.
F. Demand a $3/week raise from your employer.
G. Add another $6 to your debt.

You've gone from insisting that the federal government can spend as much as it wants without ever being accountable to insisting that the average consumer also can spend as much as she wants without ever being accountable. The real world doesn't work like that. In the real world, when wages are flat and prices are not, people have to cut back.

You don't understand how CPI works and you made a statement that's directly contradicted by explicit links. You did this and then called someone else stupid. Even if CPI was bullshit, which it isn't, my comment on ground beef and steak was limited to what was included in CPI.

Thank you for exposing your own ignorance, arrogance, and stupidity. Classic werepossum. You never fail to shit your pants.

 

[Ns1]

I <3 P&N so much.

 

[werepossum]

You don't understand how CPI works and you made a statement that's directly contradicted by explicit links. You did this and then called someone else stupid. Even if CPI was bullshit, which it isn't, my comment on ground beef and steak was limited to what was included in CPI.

Thank you for exposing your own ignorance, arrogance, and stupidity. Classic werepossum. You never fail to shit your pants.

My bad, I thought you were saying that people don't substitute hamburger for steak when steak prices go up.

 

[fskimospy]

My bad, I thought you were saying that people don't substitute hamburger for steak when steak prices go up.

Hey, fair enough! For all the times that I say mean things to you, I appreciate that.

 

[mysticjbyrd]

Sorry but no, its not because huge corporations chose not to, it's because they exploit the legal loopholes their lobbyists put into law.

That's why they can perform a tax inversion but if you as an American citizen try to avoid paying taxes by trying to do something similar you will have the IRS on your back.

Don't know who has been feeding you that corporate koolaid bullshit but if you keep drinking it you will no doubt end up a Hillary supporter.

http://www.wsj.com/articles/how-washington-punishes-small-business-1431040539

They chose to do it. The method was to buy the politicians through legalized bribery. I will never support another corporate puppet.

 

[bozack]

I suspect something like the Guaranteed Basic Income will be here soon.

so we go from moving up to $15/hour for low skill work = good because it will stop government subsidizing business that hires said low skill workers by giving them more money, while ignoring the fact that the goods and services they rely on will most certainly go up in cost making their newly found wealth meaningless ......to the inevitability that technology is killing these low skill positions and now touting a guaranteed basic income (aka 100% government support with no productivity)..well at least it's a realistic conclusion so I'll give you that.