News Report:\u00a0 \u00a0BMW dealers in Hollywood report that import car tariffs aren’t affecting sales to their multimillionaire clients at all.\u00a0\u00a0<\/p>\n
Not a big shock, right?\u00a0 The more money people have, the less price points matter to them.\u00a0\u00a0<\/p>\n
It’s Economics 101.\u00a0\u00a0<\/p>\n
Which is why “journalists” and progressives (ptr) never, ever get it.\u00a0<\/p>\n
Remember Obama’s 2014 State of the Union?\u00a0 When he praised Saint Paul’s “Punch Pizza” for paying its employees well above the minimum wage?\u00a0 \u00a0 Of course, as I pointed out at the time, Punch is a high-end pizzeria in a posh neighborhood that aims toward a high-value clientele on Grand Avenue in Saint Paul; I wouldn\u2019t doubt that in a neighborhood full of \u201cliving wage\u201d activists, starting people at $10 an hour at above the minimum wage is good marketing.\u00a0 But Punch Pizza is no Taco Bell; its dozen or so outlets are located in upscale areas, where people think nothing for dropping $20 for lunch\u00a0 and a lot more for dinner and drinks.\u00a0 It\u2019s a tony niche retailer that gives a robust markup<\/a> for an uptown dining experience.\u00a0 \u00a0And I’m gonna guess they an pick and choose their hires, even now, unlike the McDonalds and White Castles they’re not actually in competition with.\u00a0<\/p>\n I thought about that in reading this piece, claiming NYC’s $15 minimum wage is a net gain…<\/p>\n …in the Manhattan restaurant scene<\/a>:<\/p>\n As New York raised the minimum wage to $15 this year from $7.25 in 2013, its restaurant industry outperformed the rest of the US in job growth and expansion,\u00a0a new study found<\/a>.<\/p>\n The study, by researchers from the New School and the New York think tank National Employment Law Project, found no negative employment effects of the city increasing its minimum wage to $15.<\/p>\n\n