If there's one thing they love doing over at Faux "news" it's looking out for big business while continually punching down and attacking workers, minimum wage, our social safety nets and organized labor. This Saturday's Cashin' In was no exception with all of Eric Bolling's guests other than Juan Williams who was the lone voice of reason fearmongering over an upcoming minimum wage increase in Seattle.
Wingnut libertarian as usual doesn't think there should be any minimum wage at all, and the others were fearmongering that it's going to lead to layoffs and business closing, never mind the fact that the restaurant owners in the area have said this is not true.
As Seattle prepares for the April launch of the highest minimum wage law in America, conservatives are warning that businesses are already shuttering under the pressure of higher labor costs and pointing to a recent report of a rash of restaurant closures as evidence. The problem is, the actual owners of those restaurants say that they’re not closing because of wages, and the city seems to be enjoying robust growth in that industry.
The New York Post editorial board, American Enterprise Institute scholar Mark Perry, Forbes contributor Tim Worstall, and Rush Limbaugh all cited a Seattle Magazine article from March 4 that claimed a “rash of shutterings” was afoot in the Seattle restaurant world. The magazine suggested that the minimum wage law might be a contributing factor in the closures of the Boat Street Cafe, Little Uncle, Grub, and Shanik.
They go onto cite numerous examples of business owners who disagreed with the fearmongering by conservatives, but here's the real kicker.
Worstall, Price, and the other conservative economists and pundits who latched onto the overblown narrative from Seattle Magazine argue that minimum wage hikes reduce job growth, but many other studies and analysts have challenged the assumptions about business behavior that underlie the opponents’ claims. A recent academic analysis of how fast food companies would adapt to a law very similar to Seattle’s found that the industry would not have to fire anyone to cover the jump to $15. And states that increased their minimum wages in 2014 experienced faster overall job growth than states that did not.↓ Story continues below ↓
All of this is happening weeks before anyone in Seattle has been forced to change anything about how they pay workers, and about six years before small restaurants like these will have to pay $15 per hour. The first tier of the city’s wage increase law goes active on April 1. From there, businesses will have between three and seven years to gradually step up to $15, depending on both the total number of people a firm employs and the health care benefits they offer workers.
Seattle’s business community was heavily involved in crafting graduated wage hike schedules that provide deferential treatment to employers who are already offering workers some non-cash compensation. The law’s complexity and flexibility owes in large part to the business community’s fierce negotiating in months of meetings with labor officials and local politicians. All sides left “a little bit of blood on the floor and some deeply held principles,” the business community’s lead negotiator told ThinkProgress last summer.
With time and data on what Seattle’s economy actually experiences as the wage hike phases in, the spread of the $15 idea seems almost inevitable to another key negotiator. “When we enact this law and our state does not slide into the ocean,” venture capitalist Nick Hanauer told ThinkProgress in the summer, “that will make it easier for people to be like, ‘well, fuck, why shouldn’t we do that?'”
Don't expect reality to get in the way of the pundits on Fox continuing to spread lies and misinformation as we saw in the segment above.