Gov. Kathy Hochul, after crawling to a first formal term, announced a plan so brilliant that it could have only come from Elizabeth Warren or a drunken Marxist. And I don’t mean Groucho.
“Gov. Kathy Hochul on Tuesday used her second State of the State address to unveil a wide-ranging agenda for 2023, vowing to tie New York’s minimum wage to the rate of inflation”
Then every time the cost of goods and services rises, so will wages, which will increase costs and lead to a rise in the cost of goods and services, which will increase wages which will increase inflation.
If only there were a term for this? Oh right, wage-price spiral.
Don’t worry, as Bernie would say, we’ll just pass another law banning excessive spending, raises, profits or freedom.
Hochul is too dimwitted to even understand the consequences. And even if she weren’t, it’ll scope some woke points which is all that she cares about.
New York’s small businesses are already on the ropes. Now Gov. Hochul is telling them they can’t control payroll which leads them to think that they won’t be able to make payroll.
But it’s okay. I’m not sure there was much of a future for small businesses in New York anyway.