Raising the Minimum Wage Means the End of the Fast Food Subsidies

http://jaymantri.com/

And besides, fast food is bad for you. You should probably eat something healthy instead, anyway. Are you getting enough nutrients? I worry about you.

You’ve got to read this Bloomberg View article by Barry Ritholtz about why the fast food industry is fighting so hard against raising the minimum wage to $15 an hour. Basically, it’s because up until now, “more than half (52 percent) of the families of front-line fast-food workers are enrolled in one or more public programs,” meaning that our taxes have paid to subsidize the fast food industry’s low wages, to the tune of “about $7 billion a year.”

What’s happening now in Los Angeles is a course correction. The American public has decided to stop subsidizing fast food profits. I’ve seen this argued before on many occasions, but Ritholtz’s post is the most elegant, easy-to-understand articulation of this case. Read it, share it, and post it when you see someone spreading the usual “businesses will close” scares on social media.

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Paul Constant
Paul Constant has written about politics, books, and film for Newsweek, The Progressive, the Utne Reader, and alternative weeklies around the country.