President Obama's increased minimum wage already killed jobs in Bernerton. Obama announced that he - on his own - with his pen - could sign the order to require federal contractors to pay $10.10. And his Secretary of Labor Perez bragged that both pay would be higher and customer service would be better. Obama signed the order on about Feb. 12, 2014. CNN Money
Obama and Perez did not mention that jobs would be killed. Indeed they said that all effects would be positive.
In Bremerton, WA, a MacDonalds adjacent to the Navy Puget Sound Shipyard closed on March 31, 2014. But… you say... but the higher wage requirement doesn’t start until 2015. And only for new contracts. And…
The MacDonalds had to close now. Their their lease with the Navy was up, so they had to sign a new lease. But the new lease required them to commit to paying $10.10 when it started. So the owner’s choice was either sign a lease with conditions they knew they could not keep or close the restaurant; so they had to close. And they had to close early this year, due to the timing of the lease.
Obama, tell us again… News alert for Obama. Businesses cannot keep their doors open if you raise their costs and other restrictions. Some with higher margins can, but some cannot.
Via Generic Freedom Foundation. They also quote sources saying hundreds of fast food outlets will close due to the $10.10 and jobs will be lost in other businesses on military bases.