San Francisco has raised its minimum wag to $15 an hour, which is what many on the left want, (although leftist icon Liz Warren thinks $22 would be better.) Well, thanks to San Francisco’s progressive politics, a lot of employees at a certain bookstore will now be making $0 an hour.
In November, San Francisco voters overwhelmingly passed a measure that will increase the minimum wage within the city to $15 per hour by 2018. Although all of us at Borderlands support the concept of a living wage in principal and we believe that it’s possible that the new law will be good for San Francisco — Borderlands Books as it exists is not a financially viable business if subject to that minimum wage. Consequently we will be closing our doors no later than March 31st. The cafe will continue to operate until at least the end of this year.
If only someone had warned them that raising the minimum wage would result in the loss of jobs and the closing of small local businesses. But I suppose you would have to be some kind of magical genius to foresee such completely unexpected consequences.