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re: California’s $20 fast food minimum wage balloons menu prices
Posted on 4/3/24 at 4:21 pm to SammyTiger
Posted on 4/3/24 at 4:21 pm to SammyTiger
quote:
coming from the “burgers will cost 100 dollars and all small businesses will close” crowd
Coming from the guy that thinks corporate pays these wages. Take a lap.
1
Posted on 4/3/24 at 4:22 pm to Korkstand
So I need to pay a 16 year old with no skills or experience a survival wage?
Lol
Lol
Posted on 4/3/24 at 4:23 pm to Corinthians420
quote:
The raises only benefit poor people.
the cook that went from making $16 to $20 will gladly trade an extra $1.70 on a combo meal, he will recuperate the difference plus some in 1 hour.
the people it hurts is the rest of us, so I understand why they wanted a raise.
These things don’t happen in a vacuum. The manager that was making $25 also wants a raise. All of the companies that compete with fast food for employees (convenience stores, lodging, etc) will have to give raises to compete in the labor market.
This will create a massive ripple in the economy, caused totally by the government and not free-market forces.
Completely clown-world retardedness.
Posted on 4/3/24 at 4:24 pm to More beer please
quote:A bit arbitrary but not "completely" so. It may be a fuzzy line, but there is a wage per locale below which a person cannot afford or find food or shelter. At least not at a first world standard.
Again, this is completely arbitrary and subjective.
Posted on 4/3/24 at 4:24 pm to TDTOM
quote:I'll fantasize about functional government until the day that I die.
This is part of that fantasy world you live that was mentioned earlier.
Posted on 4/3/24 at 4:25 pm to AlterDWI
quote:I know I'll need it.
Good luck w that
Posted on 4/3/24 at 4:25 pm to RogerTheShrubber
quote:Again, I place the blame squarely on government.
Youre blaming industry for government fricking up the economy with debt
Posted on 4/3/24 at 4:25 pm to Smeg
quote:
Burger King, where a Texas Double Whopper meal cost $15.09 on March 29 but surged to $16.89 on April 1,
Not that ia any better but this is going for 14.69 online on there app
Posted on 4/3/24 at 4:25 pm to Korkstand
quote:
but there is a wage per locale below which a person cannot afford or find food or shelter.
Gubments issue.
Putting it on business will lead to unemployed workers, not "underpaid" workers.
Posted on 4/3/24 at 4:26 pm to Korkstand
quote:
These min wage increase supporters are ostensibly setting the bar roundabout the cost of living.
Government interference in the market does nothing but manipulate the free-market, which then affects everything else.
So we don’t know what the “cost of living” would be in a true free market.
Posted on 4/3/24 at 4:31 pm to Bjorn Cyborg
quote:
Government interference in the market does nothing but manipulate the free-market, which then affects everything else.
Its the law of unintended consequences they cant understand.
Posted on 4/3/24 at 4:35 pm to Finkle is Einhorn
quote:
The problem is not paying the employees a fair wage. These fast food companies can more than handle that without raising the prices of anything. Just the executives would make 15 million a year instead of 20.
Just in California McDonalds has 77000 restaurant personnel. If you figure every employee got a $5 an hour raise and works a 40 hour week that comes out to an extra 784 million (almost a billion) in expense to the company. You think cutting some executives salary by 5 million a year fixes this issue?
Posted on 4/3/24 at 4:37 pm to Korkstand
quote:
true cost of business
Posted on 4/3/24 at 4:39 pm to Mushroom1968
quote:
quote:
you are passing on a new or increased expense 1:1 in your prices, then you are leaving money on the table at one or the other (or both) price levels.
You mind elaborating? Let’s keep it simple. I own a mom and pop burger joint (hypothetical).
I’ll answer for the idiot, because I understand his twisted, false logic.
He’s saying:
If you are selling a burger for $5 and your expenses increase by $1 and you raise your price to $6, you are dumb because if the market would pay $6, then you should’ve already been charging $6, thus you were leaving money on the table.
This would be true, if it was an expense that only affected you and not your competitors.
But a government mandate affects everyone, so you and your competitors both have to increase, due to government market manipulation.
Posted on 4/3/24 at 4:43 pm to BOSCEAUX
quote:
Just in California McDonalds has 77000 restaurant personnel. If you figure every employee got a $5 an hour raise and works a 40 hour week that comes out to an extra 784 million (almost a billion) in expense to the company. You think cutting some executives salary by 5 million a year fixes this issue?
This isn’t about what executives are getting overly paid, this is about a company that had 25.5 billion in revenue for 2023 worldwide. 11 of which was in the USA. Surely they can afford to pay their employees more, saying otherwise is absurd.
Posted on 4/3/24 at 4:44 pm to ThatMakesSense
Do u ev n franchise?
Who pays those hourly wages?
Who pays those hourly wages?
Posted on 4/3/24 at 4:44 pm to Mushroom1968
quote:quote:You mind elaborating? Let’s keep it simple. I own a mom and pop burger joint (hypothetical).
you are passing on a new or increased expense 1:1 in your prices, then you are leaving money on the table at one or the other (or both) price levels.
Ok, Mom&Pop Burgers sells 1,000 burgers per week at $5 each, expenses are $1k/week labor and $2 ingredients per burger, profit $2k/week or $2 per burger.
Labor goes up to $2k/week, so profit drops to $1k/week. Can you get that profit back up to $2k by passing on 1:1 your new labor expenses? It is highly unlikely that you will sell the same 1,000 burgers at $6 as you did at $5, right? Surely you will sell fewer at the higher price, maybe only 900 or so, who knows? But certainly not as many, so if you must get back to $2k/week profit then you have to raise the price by more than your new expenses to get it back (and sell fewer still but at higher margins). Maybe you can do it in your market, maybe you can't, but we know for certain that you are not going to sell 1,000 burgers per week at the new higher price by passing on the cost 1:1.
Or will you? If you do still sell the same 1,000 burger at $6, then you could have been doing that all along making $3k/week profit.
You had it wrong one way or the other. It would be a rare case indeed that sales remain consistent at two different price levels.
Posted on 4/3/24 at 4:46 pm to Smeg
quote:
California’s $20 fast food minimum wage balloons menu prices
So the net effect is minimum wage people's purchasing power decreases. But they got their $20 an hour...
Posted on 4/3/24 at 4:46 pm to ThatMakesSense
quote:
This isn’t about what executives are getting overly paid, this is about a company that had 25.5 billion in revenue for 2023 worldwide. 11 of which was in the USA.
Define this.
Posted on 4/3/24 at 4:47 pm to Jbird
quote:
Do u ev n franchise?
No, I don’t.
I’ll guess you don’t either. Spare me the diatribe, please.
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