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by philipallstar
22 days ago
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Because then fewer people will use Uber. Customers don't have a whole-economy view. If you raised the price of an Uber to $200 a ride minimum, would that be a good thing? After all, workers paid more spend more, stimulating growth at all levels! It's a bit like California raising fast food minimum wages causing thousands of jobs to be lost[0]. [0] https://tfppwire.com/new-data-shows-california-lost-staggeri... |
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> About
> TFPP Wire helps you stay ahead with breaking news, analysis, and bold <<conservative>> insights on the economy, politics, national security, culture, and more.
It quotes California Globe:
> About Us
> California Globe is an independent, professional news website obsessively chronicling everything political throughout the state of California. We are <<pro-growth and pro-business>>, non-partisan and objective; we report what we see and hear without fear or favor.
"pro-growth and pro-business" (dogwhistle for conservative), I'm sure their reporting is super unbiased, their sources are obviously not incentivized to distort facts.
Oh, wait:
> Explained Altaf Chaus, who owns and operates three Burger King franchise restaurants in San Jose
Ah, yes, the capitalist is complaining.
> By June 2024, <<Stanford University>> found that over 10,000 fast food jobs were already lost.
> The "Stanford University" study behind that 10,000-jobs figure is an article titled "California Loses Nearly 10,000 Fast-Food Jobs After $20 Minimum Wage Signed Last Fall," written by economist Lee Ohanian and published April 24, 2024 by the <<Hoover Institution>>. The Hoover Institution is a think tank located on Stanford's campus and affiliated with the university, which is almost certainly why outlets describe it as a "Stanford University" finding. (Hoover itself notes that opinions on its site don't necessarily reflect the views of the Hoover Institution or Stanford University.)
> <<Here's the catch: the article has been retracted.>> According to the notice now on the page, the author cited data reported by the Wall Street Journal and interpreted those data as being seasonally adjusted; following publication, those data were identified as not being seasonally adjusted, so the article was retracted to avoid misinformation. The seasonal-adjustment issue matters a lot here, because fast-food employment naturally fluctuates with the seasons, so unadjusted month-to-month numbers can show "losses" that are really just normal seasonal patterns.
https://en.wikipedia.org/wiki/Hoover_Institution
> It is widely described as <<conservative>>, although its directors have contested the idea that it is partisan.
You need a more balanced news diet.