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"The Alternative Is Disaster": New York Restaurants Demand Permission To...

• https://www.zerohedge.com, Tyler Durden

At the end of 2015, just before New York State hiked minimum wages, we warned that the price of food was about to surge as restaurant managers passed through rising wages to end clients. Meanwhile, some restaurants, worried about losing their clients, opted to instead eliminate tipping entirely - that primary source of incremental wages for thousands of food industry workers - while hiking base prices by as much as 30%, with the money going toward higher payroll. Worst of all, many restaurants simply laid off much of their staff who suddenly became unaffordable.

In short, there would be less money for everyone, even as food prices surged, disappointing everyone in the process.

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