Increasing Minimum Wage will drive out Discount Stores from MYC hurting Poor and Middle Class the Most

Understand this!  Mayor Bill de Blasio and his fellow communists in the New York City Council do not understand how the economy works.  They are as ignorant as President Obama and his fellow academics that work in the White House who never held a real job in the private sector.  So a lot of New Yorkers that voted for de Blasio will be in for a big surprise if he and the Council raise the minimum wage to over $10 dollars an hour.  

Crains New York reports New York City has always had its share of pricey boutiques and upscale shops. And if a proposed expansion of the city's living-wage law moves forward, it might see even more—hardly the result its proponents intended.


In his State of the City address last week, Mayor Bill de Blasio pledged to extend the existing law, which currently excludes tenants of city-subsidized development projects, to cover "tens of thousands of additional New Yorkers." The law, enacted in 2012, forces developers receiving substantial city subsidies for projects to pay its workers at those sites at least $10 an hour plus benefits, or $11.50 without benefits. But commercial tenants—notably retailers—are exempt, a major carve-out that now faces elimination.

Experts say that would make projects harder, if not impossible, to put together, as stores would avoid leasing space where the additional labor costs are required. Developers would have to turn to retailers that already offer higher wages: luxury shops and high-end mass-market retailers, rather than the discounters that sell the items that ordinary New Yorkers can afford.

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