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Seems like the cities having the most problems have minimum wages going up to $15 plus FICA, State and Local UI, health care costs and other regulations like paid sick leave.
I am in favor paid sick leave but it is another very expensive item for businesses, about an extra 50 cents an hour on top of $15.
The other thing is that inner-city retail businesses can no longer have open restrooms these days and there are massive amounts of people with drug addictions and homeless who are desperate causing disturbances.
Then there is the very high commercial taxes and many real estate investment firms holding out until they get top dollar which only big national chains can pay.
I have never been to NYC, but in San Francisco and Los Angeles people usually go out in large groups and it's considering weird to go out to eat alone or go to nightlife establishments alone.
People also don't go out to meet others in big cities. In every liberal city, I have ever lived in people go out in groups so it serves very little purpose to pay a 350% profit margin on food and quadruple percentage profit margins for other establishments to be around people in cliques.
New York City restaurants, feeling the pinch of trying to make ends meet, are slashing their staff after a state law that took effect at the end of 2018 is mandating restaurants with 11 or more workers to pay a $15 an hour minimum wage.
Hmmm, there couldn't also be some other factors at play here too...
"But upon closer inspection, it’s clear that retailers have only themselves to blame for the bubble they created—a bubble that is finally bursting.
Like so many other bubbles, many retailers failed to heed the signs in the market and kept adding new and ever more unprofitable stores."
You stepped into a hole on this one. All the issues you bring up are in every city. Large, small, GOP governed, Dem. governed. Look in Salisbury Post in NC about a nice small city (town) called Landis. Conservative town about to be under state governance. Has all the problems you lay out.
It is shocking the NYC retail vacancy rate. Then again, its partly the Fight for 15 coming home to roost.
It's not just the $15 of course they pay FICA on top of it, Unemployment Insurance to state and federal governments, workers compensation, employment training taxes in some states, some places have 1 hour sick leave for every 30 hours of work so it's about a day every 6 weeks.
I don't eat out. $2 Coffee is about the extent of it.
People also don't go out to meet others in big cities. In every liberal city, I have ever lived in people go out in groups so it serves very little purpose to pay a 350% profit margin on food and quadruple percentage profit margins for other establishments to be around people in cliques.
I tended bar and worked as a server in NYC and Boston for years. People certainly go out to meet other people. People go out alone, people go out in groups. Sometimes they want to interact, sometimes not, and certainly not with everyone. Is socializing a foreign concept to you, generally?
I am cracking up that the notion of a group of people having dinner together is a "clique". I legit thought only junior high-aged girls used that word.
Funny but the cited NYT article mention high rent any number of times and I see no mention of the "Fight for 15", do you?
A lib payer not mention it..shocking...
I know NYC businessmen and how they are offsetting it.
When you work there, you do not rely on liberal spin.
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