Yesterday I poked fun at a ridiculous piece at HuffPo (apparently written by an undergraduate who was given a byline as a university researcher) claiming that doubling wages at McDonald’s would be no big deal for its prices or business strategy. Well, hats off to HuffPo, which has now withdrawn the piece, apologized for its errors, and substituted a piece that tries to take a more sober look at the issue. I wonder whether Rep. Keith Ellison (D-Minn.), who was completely taken in by the original article, is feeling sheepish now (via Twitchy).
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Well, just the other day President Obama said not to believe what appeared in HuffPo. I guess it pays to sometimes pay attention to what a politician says.
Double the wage and all the current workers are out of a job precisely because more skilled workers, those who can command $15 per hour in the open marketplace, will suddenly start to turn in applications at McDs. Suddenly these places will be staffed with folks who can get my order right, and count change.