Be careful what you wish for, you just might get it...

Here’s What Middle-Class Business Owners, Who Live in the Real World, Will Do When Faced with a Huge Increase in Minimum Wage Laws

Andy Puzder, CEO of CKE Restaurants, writes in WSJ:

The point is simple: The feds can mandate a higher wage, but some jobs don’t produce enough economic value to bear the increase. If government could transform unskilled entry-level positions into middle-income jobs, the Soviet Union would be today’s dominant world economy. Spain and Greece would be thriving.

But here’s what middle-class business owners, who live in the real world, will do when faced with a 40% increase in labor costs. They will cut jobs and rely more on technology. Such changes are already happening in banks, gas stations, grocery stores, airports and, more recently, restaurants. Almost every restaurant chain in the country from Applebee’s to McDonald’s is testing or already implementing automated ordering with tablets or kiosks.

Link:
http://www.economicpolicyjournal.com/2014/10/heres-what-middle-class-business-owners.html