And it has what to do with an adjustment to minimum wage?
are Big Macs cost-based priced?
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How much more will your Big Mac cost if we raise the minimum wage?
- Thread starter hal9000
- Start date
are Big Macs cost-based priced?
Dude just look at Washington/Seattle. $15/hr minimum wage exists and CHAZ existed for a few weeks.
It now no longer exists. From La Push out to Spokane, the entire state is nothing but flaming rubble and refugees.
100% of the increases in the minimum wage and minimum-adjacent have gone straight into rents in this region. Enabling everyone to pay more for their housing has led to everyone paying more. The trend has been even more noticeable in the outlying areas. In California, anyway.
The only people who are actually coming out ahead are the landlords and the govt.
The only people who are actually coming out ahead are the landlords and the govt.
It won't on it's own, but it will reduce the pool of unskilled laborers who are willing to work for those wages, thereby forcing the McDs of the world to raise their wages.
This has been true in agriculture for the last decade, where the starting wage has been at least a few dollars ahead of minimum wage. It's miserable work, so employers are forced to pay more- which is how it should be.
It's relevant because the article states that the $22/hr includes the Danish equivalent of payroll taxes. So shouldn't the blended cost in the US also be stated so that we are comparing apples to apples?
Again with the strawman. I never said #learntocode. There are dozens of trades and other semi-skilled labor jobs that are in high demand. If someone insists on never updating their skill set even if we have a system that presents them with that opportunity to do so at no cost to them, then I really have a hard time feeling sorry for them.
If you want to start a food truck in California? You need to partner with a commercial kitchen, even if you do all of your prep and cooking within your truck. A truck that requires the same 3 basin ware wishing sink, food prep sink, and hand washing sink that a restaurant kitchen does, for a total of 4-5 sink basins. Even if you are making something basic like grilled cheese sandwiches on a griddle.
Even someone doing hairbraiding in their own home is required to have a similar setup with a bunch of equipment they don't need, even if they are not washing hair. You are also barred from being a barber in a lot of states if you are a felon. Now I don't want Timothy McVeigh or Charles Manson out on parole cutting my hair, but what about a 20 year who got popped for a few ounces of wacky tobacky?
These laws are written by businesses and legislatures with the intent of keeping competition out. Safety, while important, is just the excuse used to justify these regulations.
What a bullshit excuse not pay people a living wage.
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Yes, the government is taking so much from McDonalds.
It could be that the government needs that money in order to give food stamps and health care to McDonalds employees because their employer is refusing to pay them a living wage.
If only there was a solution for that.
I can tell you how this works on a micro level...
I’ve been wanting to hire someone for quite sometime but in my line of work people need to have multiple (over a dozen) certifications to able to work on their own. Everyone who’s certified sufficiently already have jobs so my only option is to hire and train someone with less/zero experience, train and get them certified. This would take about a year to accomplish and if I could pay this person $10 an hour during this time I would do it.
After they are trained and certified they can work on their own and I can pay $25-35 an hour, healthcare, retirement plan etc. because I can bill for their time.
Even at $10 an hour for someone I can’t bill for would be a stretch but worth the investment.
At $15 it simply prices any inexperienced worker out.
It’s not that complicated to figure out.
work for me @$10/hr for about a year which then can triple after that or no job at all.
If it's not that complicated, you should try living on $10/hr and see how it goes.
I don't know what kind of business you run but McDonalds and other mega corporations would never even notice if they paid their employees a living wage instead of relying on government to do it for them.
Except they are ruthless, greedy fucks who would do anything to maximise profit - unless there's a law that prevents them from doing that.
That's exactly what government's role is and that's exactly why minimum wage laws even exist.
Q: Why did higher minimum wage work in the 50's but it doesn't work today?
A: The corporations got greedier.
"Since being established at 25 cents in 1938 under the Fair Labor Standards Act, the federal minimum wage has been raised only 22 times. Though it was originally proposed to periodically raise wages along with the increased cost of living, the law that was passed left any increases to Congress and the president. “Congress decided to not tie the minimum to the rate of inflation because they wanted to get credit each year for raising the minimum,” says Stephen J. Rose, senior economist at the Center on Education and the Workforce at Georgetown University.
The result is an effective decrease in the minimum wage. According to the website EconProph, when inflation is factored in, the federal minimum wage is actually 25 percent lower today than it was in 1968. When it comes to housing costs, for example, the U.S. Department of Housing and Urban Development (HUD) suggests applying no more than 25 percent of your gross income towards rent. But almost no one earning minimum wage would be able to pay the national median rent using that formula. "
www.businessinsider.com
A: The corporations got greedier.
"Since being established at 25 cents in 1938 under the Fair Labor Standards Act, the federal minimum wage has been raised only 22 times. Though it was originally proposed to periodically raise wages along with the increased cost of living, the law that was passed left any increases to Congress and the president. “Congress decided to not tie the minimum to the rate of inflation because they wanted to get credit each year for raising the minimum,” says Stephen J. Rose, senior economist at the Center on Education and the Workforce at Georgetown University.
The result is an effective decrease in the minimum wage. According to the website EconProph, when inflation is factored in, the federal minimum wage is actually 25 percent lower today than it was in 1968. When it comes to housing costs, for example, the U.S. Department of Housing and Urban Development (HUD) suggests applying no more than 25 percent of your gross income towards rent. But almost no one earning minimum wage would be able to pay the national median rent using that formula. "
How Well Can You Live On Minimum Wage?
www.businessinsider.com
How Much McDonald's Franchise Owners Really Make Per Year - Mashed
McDonald's is the most successful restaurant in the history of the world. How much does a McDonald's franchise owner really make each year?
www.mashed.com
To pay a living wage (which amounts to how much exactly?) would absolutely require raising wages, to the point where people will simply spend less money there because the price increases far exceeds the value of the food, and/or owners will cut hours and invest in labor saving machinery to compensate. Labor accounts for 25-30% of the overhead, therefore an hourly pay increase of $5-10/hr would absolutely have an effect.
Math is hard.
Then given how low the profit margins are, they aren’t doing a very good job at it. The facts don’t match your feels.
The government has driven up costs at every level for the employer and the employee. You big government types trip me out.
Why are franchise owners getting such a small cut from McDonalds?Actually they would notice. The average franchise owner nets $150k/store/year on $2-3M in sales, not including the initial investment. Which puts their profit margin in the single digits. Ruthless!How Much McDonald's Franchise Owners Really Make Per Year - Mashed
McDonald's is the most successful restaurant in the history of the world. How much does a McDonald's franchise owner really make each year?
We are talking about McDonalds, not franchise owners.
They are McDonalds employees also, dummy.
Bullshit.
Why did you conveniently ignore the facts I posted?
Let's try this again:
"Since being established at 25 cents in 1938 under the Fair Labor Standards Act, the federal minimum wage has been raised only 22 times. Though it was originally proposed to periodically raise wages along with the increased cost of living, the law that was passed left any increases to Congress and the president. “Congress decided to not tie the minimum to the rate of inflation because they wanted to get credit each year for raising the minimum,” says Stephen J. Rose, senior economist at the Center on Education and the Workforce at Georgetown University.
The result is an effective decrease in the minimum wage. According to the website EconProph, when inflation is factored in, the federal minimum wage is actually 25 percent lower today than it was in 1968. When it comes to housing costs, for example, the U.S. Department of Housing and Urban Development (HUD) suggests applying no more than 25 percent of your gross income towards rent. But almost no one earning minimum wage would be able to pay the national median rent using that formula. "
How Well Can You Live On Minimum Wage?
www.businessinsider.com
Back in high school a number of my classmates worked in fast food and convenience stores. When was the last time you saw a high schooler working in McDs?
The franchise fee is around 4% of gross sales, which ain’t all that much either. Seems that the rent that McDonalds is charging is the bigger moneymaker. Either way, even if corporate is overcharging them, the difference between that and what would be considered fair is probably not enough to give everyone an extra $10/hr.
Actually, we can do some quick math right now. In 2018 the corporation netted $6B worldwide. When divided by 1.9M employees in the US alone (not including internatonal), that equals just under $3200/employee/year, which equals $1.57/hr if the employees were to take all of the profits.
Another way to look at it is that the corporation nets $1.57/hr off the back of each employee, and if you were to do this math with domestic profits only, even less.
Math is hard.
Glad you are finally making that distinction.
After all the points I made in previous posts, you are going to call me out for not addressing this one?
Yes, after a whopping 16 minutes.