Vic Gumper, a businessman who owns a small chain of pizza shops in Emeryville, Berkeley, Oakland and Albany, California, has learned something about economics and liberalism and he’s learned it the hard way.
Emeryville is a small city of 10,000 people. Liberal people. When the city raised its minimum wage to $14.44 an hour, Gumper did not need to comply yet because he didn’t have enough employees in Emeryville. He then raised the salaries of his employees to 15 and 25 dollars an hour. As a consequence, he had to raise the cost of his pizza to thirty dollars.
Gumper wasn’t worried. He lived in a very liberal city and the residents demanded the “living wage.” Surely, they would understand why he had to raise the cost of his pizzas.
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Gumper found himself on the corner of Economics Terrace and Liberal Place. Liberals insist that people with no skills to speak of be paid fifteen dollars an hour, but that doesn’t mean they are willing to pay more.
His sales are off 25% over the last month since he raised his prices.