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Some good and bad news for your wallet in 2018


MARISA: BIG CHANGES ARE COMING IN 20-18. HOWARD: THE GOOD NEWS — SOME PEOPLE WILL SEE A PAY INCREASE. THE BAD NEWS — IT’LL COST YOU MORE IF YOU OWN A CAR OR IF YOU TAKE THE CITY BUS. JENN BONEZA HAS WHAT YOU NEED TO KNOW FOR THE NEW YEAR, JENN? JENN: I SPOKE TO A LOCAL RESTAURANT OWNER WHO TELLS ME ULTIMATELY, THE INCREASE TO THE MINIMUM WAGE EQUALS HIGHER PRICES FOR CUSTOMERS ANNIE YEUNG, RESTAURANT OWNER: ” we just have to adjust in our prices. I’m sure this is a lot of industry not just us restaurant.” Annie Yeung has been in the restaurant business for almost two decades. she recalls when the minimum wage was 5.75. The 85 cent increase that bumps up the 9.25 rate to 10.10 goes into effect Monday. ANNIE YEUNG, PANYA OWNER: ” this is quite difficult for us as a business owner and operator.” She says she doesn’t mind paying more as long as workers are reliable ANNIE YEUNG, PANYA OWNER: i wish we could have better quality or skillful people. ” ANNIE YEUNG, PANYA OWNER: to justify the increase” a one way trip goes up 25 cents. A day pass will increase by 50 cents. Monthly bus pass holders will have to fork up 10 dollars more and annual members will see an increase of 110 dollars. The change doesn’t sit well with everyone KIM ROLDAN, THEBUS RIDER: ” its expensive. ” KIM ROLDAN, THEBUS RIDER: “paying 70 dollars a month I think , it is kind of high. ” JENN: “how do you feel to the increase the cost of riding the bus? CHAD FUJIHARA, THEBUS RIDER: mean I guess it has to happen we have to cover the cost of things. everything goes up.” fujihara says he rides thebus into town from Waianae everyday CHAD FUJIHARA, THEBUS RIDER I’ve been riding it the mornings and the afternoons I depend on it.” even though a price hike was inevitable. Fujihara tells me people who don’t have a car don’t have much of a choice. CHAD FUJIHARA, THEBUS RIDER: ” I think people are just kind of going to end up taking in stride anyway, cause what’s the alternative?” JENN: CAR OWNERS WILL ALSO PAY MORE IN THE NEW YEAR. THE VEHICLE WEIGHT TAX ON OAHU GOES UP ONE CENT FOR EVERY POUND. THAT MEANS IF YOU OWN A FOUR-DOOR SEDAN YOUR CAR REGISTRATION COULD SET YOU BACK AN ADDITIONAL 30 DOLLARS EACH YEAR DASH, MARISA

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6 thoughts on “Some good and bad news for your wallet in 2018

  1. This just prove how little our politicians know about how basic economics. You increase the minimum wage and businesses will force to raise their prices, passing the cost on to customers.

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