Here’s a shocker – liberals on Morning Joe are so clueless about how business works that they actually believe raising employment expenses by a whopping 37% shouldn’t shut down any business. Why did they go up so much? Because stupid liberals voted for a minimum wage increase.
In many businesses, they’re lucky to make a 5% profit, and a lot of their expenses are due to employee costs, but these idiots have probably never actually a business. They believe money just appears in an employer’s pocket, and he refuses to share it because he’s evil.
But hey just for kicks, let’s do the math. A jump from $11.05 to $15 per hour is about $4 more every hour. Three employees, eight hours a day, 40 hours a week, you’re talking about $5,120 a month more, about $61,400 per year. How much does a book store make? According to this book-owner, just not enough to keep the business alive.
That doesn’t even account for increased unemployment insurance and Social Security and everything else it takes to have an employee.
But the idiots at MSNBC just have to believe that he’s doing it out of spite, because they know what’s better for his business than he does. And now five employees are out of a job and his business closes down. Here’s the whole cringe-inducing 7 minute video if you can stand it.