Not a surprise, this. And if the burger flippers ever get their wish of a $15 an hour wage, the only people earning it will be employed to maintain the machines that will replace most of the workers - a skill set far beyond the ability of most fast food workers. Daily Caller: Conservatives have long warned that raising the minimum wage would harm businesses, cost low-skilled workers jobs and lead to automation to replace many of them. Unions and progressives, on the other hand, swore fast food chains could easily afford the inflated labor cost without much of a price increase. Now comes word that McDonalds’, the largest player in the fast food industry, revenues are down significantly. A 5 percent decline in quarterly revenues led to a 30 percent decline in profits. A doubling of labor costs would only exacerbate this and lead to massive layoffs. In addition to demands from labor for a higher starting wage, the National Labor Relations Board in July ruled fast food...(Read Full Post)