75.2 F
College Station
Wednesday, June 23, 2021

Chipotle Raised Its Minimum Wage to $15 and Now It's Biting Customers in the Burrito

Local News

College Station Bans Traditional Pet Shops

At Thursday's meeting, the College Station city council passed an ordinance that prohibits the sale of non-rescue dogs and cats in pet...

College Station to Vote on ROO in Special Meeting Today

The College Station City Council meets Monday at 4 p.m. at city hall to consider a Restricted Occupancy Overlay (ROO). The ordinance would allow single-family...

College Station Plans on Borrowing Additional $62 Million Without Taxpayer Vote

The College Station City Council voted to begin the process of issuing $62 million in certificates of obligations for capital projects. The...

Brazos Valley Hospitalizations Continue to Decline After Mask Order Rescinded

Texas Governor Greg Abbott issued Executive Order GA-34 on March 2, 2021, and the order went into effect on March 10, 2021....

Basic economics doesn’t change because a political movement wants it to. It’s a finite world with finite resources, and when you move one number, it affects other numbers. This simple rule of economics cannot be overcome. In order to put more money into one thing, you first have to give it up, and in order to balance the sheets, more money has to come in from somewhere to compensate.

It’s a simple rule the Left misses far too often. The phrase “money doesn’t grow on trees” is factual but unheaded. This is why no one should be surprised that Chipotle is now raising its prices as its caves to demands to raise its minimum wage to $15/hr.

According to Fox Business, the burrito chain is raising its prices by four percent in order to compensate for its wage hikes.

“It made sense in this scenario to invest in our employees and get these restaurants staffed and make sure that we have the pipeline of people to support our growth,” Chipotle CEO Brian Niccol said. “And then with that, we’ve taken some pricing to cover some of that investment.”

This could push some burritos into the $8 range that many already thought was overpriced.

The price hike might not truly affect many customers’ decision to eat there, but a nearly .50 cent price hike for some items is steep when you consider that, over time, you may very well find the company being pressured to do more than just hike wages. Increased health benefits for minimum wage workers isn’t a far-off demand for people who just convinced a corporation to pay them a lot more.

And who’s to say that Chipotle won’t be pressured to raise wages again? This isn’t the first time this has happened for Chipotle. Next thing you know, Chiptole will be forced to hire fewer people and/or give its employees fewer hours in order to stay in the black.

When the vast majority of economists tell you that raising the minimum wage to $15/hr is a bad idea, and then myriad examples as to why show you

Continue reading on RedState

More articles

- Advertisement -

State News

Abbott Announces Special Session Starting July 8

Just a few weeks after the regular legislative session came to a close, Gov. Greg Abbott announced the first of multiple special sessions would...

Bipartisan Group of Lawmakers Request Medicaid Expansion in Special Session

On Monday, a bipartisan group of Texas lawmakers sent a letter to Texas Governor Greg Abbott, asking him to put the topic of Medicaid...

Autopsy Report: Property Taxes Will Continue to Rise in Texas

As Texans’ property taxes continue to rise, the Texas Legislature took no decisive action to lower them across the board. Three experts discuss what...

Sid Miller Declines Run for Governor, Will Seek Re-Election

Texas Agriculture Commissioner Sid Miller announced this week he would run for a third term in 2022, putting to rest any speculation that he...

Polling Shows Wright Leading Ellzey in July Congressional Runoff

North Texas temperatures are heating up this summer, but the competition for an open seat in Congress may be cooling down as polling shows...

Continue reading on RedState