re: California’s $20 fast food minimum wage balloons menu prices

Korkstand

I vehemently disagree with everything you have said. I assume you are left leaning and unlike most of the left leaning folks here, I do appreciate how you replied to everyone and gave us your honest opinions. No hate, just disagree. Most of the left leaners or "moderates" troll, make 1 reply and leave, or never answer anyone, you gave sincere replies.

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They are saying the opposite idiot. This will have ripples through the supply chain. Also other low wage low talent industries like grocery stores and retail sales will have to raise wages to compete with fast food chains so all the shite they sale will go up too.

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The horror.

If I was on fries making $20 before the increase, while the mop guy was only making $15. If you bring the mop guy to my level, you damn sure are going to have to give me more. Somehow that gets lost in all this feel-good, living wage crap. People who were already making the new minimum are going to want increases too.

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Looked it up. This wage hike will wipe out all profits for all McDonalds franchises. You’re absolutely outside the box of sense. Good luck, man.

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The profit made at McDonald’s franchises in Cali last year is roughly equal to what the wage increase will cost each franchise. Yay Government induced price hikes for everyone including the zero skilled worker. Price increases, mass layoffs, or hours cut significantly. Personally I’d cut hours significantly. Smaller crews that will be working twice as hard when on the job and making the same per year they weee before the government mandated pay hike.

Panera will just rise their prices to make more profit without the wage increase. Can't wait for the blue hairs who work there to pitch a fit when they find out they aren't getting an increase.

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The profit made at McDonald’s franchises in Cali last year is roughly equal to what the wage increase will cost each franchise. Yay Government induced price hikes for everyone including the zero skilled worker. Price increases, mass layoffs, or hours cut significantly. Personally I’d cut hours significantly. Smaller crews that will be working twice as hard when on the job and making the same per year they weee before the government mandated pay hike.

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Ok. When fast food is no longer available in California, you can personally punch me in the face. I eagerly await this.

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Perhaps this is an indictment on said corporations and not politicians? Just spit balling.


Prices didn't need to go up because maybe it's ok if their 8 figures year end bonuses might approach 6 figures

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Basic math says that taking $1M from one executive and dispersing it to 1,000 minimum wage employees comes out to only $1,000 per year for employee. Breaking that down to a standard 2080-hour year is an extra $.48 per hour or an extra $19.20 per week, and that's before tax.

But let's take more of a real-world example... McDonald's has roughly 1.3M crew members in the US. We can safely assume none of them are making 6 or more digits per year. McD's made nearly $8.5B in net profits in FY2023. If the company simply gave all that profit to the team members in the US (ie: we're not even talking about worldwide, just US employees) that's $6,538 extra for each team member. Breaking that down to the standard 2080 year, that's $3.14/hour extra. And that's before taxes.

So for eating up all your profits (meaning you have nothing left for reinvesting in new uniforms, renovating locations, new equipment, paying debt down, etc for no store anywhere in the world) each US team member still is far below what California just put in place.

And that's taking away all net profits, going after the paychecks of those making 6 digits or higher would result in far, far less.

Your post is an indictment of your inability to understand how much it takes to run a business and the vast discrepancy between the handful of people in upper management in most businesses who are making 6, 7 and 8 figures per year versus the veritable army making only 5 figures.

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Ok. When fast food is no longer available in California, you can personally punch me in the face. I eagerly await this.

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Are you purposely missing the point? Why should the government have the power to enforce wage increases that will affect other segments of society. This isn’t about fattys paying more for a Big Mac.

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I vehemently disagree with everything you have said. I assume you are left leaning and unlike most of the left leaning folks here, I do appreciate how you replied to everyone and gave us your honest opinions. No hate, just disagree. Most of the left leaners or "moderates" troll, make 1 reply and leave, or never answer anyone, you gave sincere replies.

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That is because in his mind he is the smartest person in the room. He honestly believes the shite he spews.