3 Jun 2025 12:39 pm
You have no idea whatsoever about the amount of new corporate tax that Chipotle is willing to absorb, so stop pretending you know what you're talking about! Nor do you understand how THOUSANDS of businesses were forced out of business under Obama when the idiot promised to force business owners to pay for their workers health insurance or be fined, which is the same as a new tax he imposed. Just take a look at how many businesses closed and the millions of jobs that were lost between the day that **** moron was elected and the first 6 months of his 2009 presidency. Business owners like myself stopped hiring to keep our employment from rising above the qualifying threshold requirement, but I also cut out our employee health insurance plan because Obama's mandate took away the deductibility of that plan for my company, simply because it didn't contain free abortions, which were unnecessary for me with my all-male workforce.LowIQTrash » 03 Jun 2025, 1:09 am » wrote: ↑ Corporate income taxes are levied on profit, not revenue.
In the real world, Chipotle ABSORBS 25-40% of enflaYshUN, which you conjobs agree is a (universal) tax - mainly on consumption.
In the real world Chipotle decides to abide lower net profit (incl the tax expense) because nobody wants to pay $16 for a chicken burrito. No business owner who owns a successful business is going to close shop b/c of this reduction - in the case of Chipotle, shareholders will live with lower share prices / lower or negative investment returns depending on their entry price (which is exactly what’s happening).
Are you also unaware of how many fast food restaurants in California either went out of business or left their state when they increased the minimum wage to $20 an hour? That mandate was no different than piling a new tax onto the entire industry, forcing them to raise their prices. And you're right, when customers were unwilling to pay $16 for a burrito or $12 for a Big Mac, many of them WERE put out of business, and most of those that remained laid off workers and installed ordering kiosks in their place to save on their labor costs.
Shocking 16,000 Jobs Lost Due to California’s $20 Fast Food Wage Hike
The data comes from the new Bureau of Labor Statistics Quarterly Census of Employment and Wages
By Katy Grimes, March 8, 2025
By the time California Governor Gavin Newsom signed into law the $20 minimum wage for fast food workers, he had been warned by many that it would be devastating for the industry, but he did it anyway. Now, 16,000 fast food jobs have been lost and fast food prices are up more than 14.5%. And here is why: the $20 minimum wage harms California’s least skilled and least experienced workers, as they are no more productive, but are significantly more expensive, and results in harms the business owners as well.This week, new data released from the new Bureau of Labor Statistics Quarterly Census of Employment and Wages (QCEW) shows that California has now lost as many as 16,000 fast food jobs.