Yeah but then I pay higher taxes to fund all kinds of government aid so that they can pay below market value. That does not sound free market capitalism.
It sounds like welfare for the rich, and I pay for it.
Not a single thing you said was true:
http://www.minneapolisfed.org/community_education/teacher/calc/hist1913.cfm
http://data.bls.gov/timeseries/LNS14000000
http://m.us.wsj.com/articles/BL-REB-25097
FYI, the federal minimum wage was increased in July of 2009.
How expensive was a hamburger when minimum wage was first introduced? 1938.
http://www.foodtimeline.org/foodfaq5.html
A Hershey bar in 1937 was $0.05 for 1.5oz bar. Today? $0.99. 2000% the cost.
Has inflation been 2000% since 1938?
You can look at any item on that site and see increases in price ranging from 500% to 4500% for Oreos from 1936 to today.
At least looking at the sameples on that page, prices on average have increased significantly faster than inflation (which from a CPI perspective is about $16.80 now vs. $1 then.)
So, yes, I'd say that minimum wage had an impact on prices.
Also, a breif look at unemployment numbers shows that on average, unemployment is higher now than it was back then (discounting WW1, WW2, and the great depression.)
Scenario 1: Minimum wage goes to $2000/hr, huge problems occur.
Scenario 2: Minimum wage abolished, huge problems occur. (and did occur in actual historical reality, which is why it and other labor laws exist in the first place)
It's almost as if it's a balancing act, and blanket assumptions about raising the minimum wage necessarily being evil are childish and simple-minded!
I'm sorry but you have no clue what you are talking about.
And so what irrefutable proof do you have that the numbers in the link I provided are false?
They're historical and that website cites its sources.
Minimum wage caused prices to increase faster than inflation, even with respect to the CPI. That much is clear to everyone who isn't wearing white-guilt colored glasses.
so i say let them close, let these "job creator" franchise owners go belly up.... serves them right., should have treated your employees better instead of telling them "touqh shit, get on welfare!"
Even if they charged a couple bucks or so more for a burger and fries to make up for a little higher wages, it's still cheaper than what most restaurants charge. People would still pay it cause where else are fat, lazy folks gonna go? Cook at home? lol, no too much effort. Get it to go from a steakhouse? No it takes too long, not salty enough and costs more, plus no drive through.
Even MCD's has been gradually raising prices if anyone noticed, might as well hike it up a couple of bucks and pay the employee's a little more, won't stop anyone from going nor has it ever.
Don't fool yourself.
Fast food is making plenty of loot.
All hamburger joints now serve that pink slime molded into a patty.
A bucket of chicken cost as much as dinner for two at a quality restaurant.
Yes, a wage of $10.10 is not only doable, but only fair.
They can afford it.
And after all, all those low waged disgruntled employees are the ones handling YOUR food.
Do you really want to trust your food to a disgruntled employee?
Well said.Scenario 1: Minimum wage goes to $2000/hr, huge problems occur.
Scenario 2: Minimum wage abolished, huge problems occur. (and did occur in actual historical reality, which is why it and other labor laws exist in the first place)
It's almost as if it's a balancing act, and blanket assumptions about raising the minimum wage necessarily being evil are childish and simple-minded!
True, but his point still holds. An increase in minimum wage ripples through the economy; it makes some jobs infeasible and raises the cost of goods and services, but the extent of that varies wildly with existing economic conditions. Blanket statements about raising the minimum wage are of necessity wrong even if occasionally correct.Raise it to $2,000/hr, what huge problems would occur? As with ANY adjustment to min wage, prices will rise to balance it out.
You use an extreme number, but any number shuffles the economy.
As soon as he figures out how to start it, pay himself, and pay his workers with other people's money, he certainly will do so.Seeing as how you care so much for the poor fast food working stiffs, why don't you go start your own restaurant and pay your workers what you think is fair. I think you will find out what most of the fast food joint owners already know that raising the price of a burger $1 isn't going to hack it. If it was surely one of the tens of thousands of restaurant owners would have tried it already. And BTW, a bucket of chicken regularly goes on sale for $10. I don't know many quality restaurants you can get dinner for two at for that price.
Don't fool yourself.
Fast food is making plenty of loot.
All hamburger joints now serve that pink slime molded into a patty.
A bucket of chicken cost as much as dinner for two at a quality restaurant.
Yes, a wage of $10.10 is not only doable, but only fair.
They can afford it.
And after all, all those low waged disgruntled employees are the ones handling YOUR food.
Do you really want to trust your food to a disgruntled employee?
I'm going to have to try that one night.I can currently call Outback steakhouse and order a really good burger and fries, pull up and park in the take out spot and have it brought out to my truck. As of today it costs a few dollars more than a similar meal from McD's or Burger King but it is much better and I have far more choices but the largest factor that used to differentiate the two, convenience, is now gone. Hell I'm actually far more likely to get what I actually ordered from Outback AND spend less time waiting for it.
Not a big fan of Applebees or a lot of the other chain restaurants but most offer the exact same "curbside" service.
How much do you pay your employees? Oh right, you don't employ anyone. You're a loser.
Cigarette prices go up every year and people still buy.
A bucket of chicken cost as much as dinner for two at a quality restaurant.
By the way, Hershey bars, Oreos, etc. are not made by minimum wage people.
__________________
correct, they are made in Mexico and Singapore by workers making 10 bucks a day.
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Want more money and better standard of living? Get a better job.
Don't fool yourself.
Fast food is making plenty of loot.
All hamburger joints now serve that pink slime molded into a patty.
A bucket of chicken cost as much as dinner for two at a quality restaurant.
Yes, a wage of $10.10 is not only doable, but only fair.
They can afford it.
And after all, all those low waged disgruntled employees are the ones handling YOUR food.
Do you really want to trust your food to a disgruntled employee?
How many other jobs have been replaced by machines that now no one cares about? When you see a farmer in a tractor do you drive by fist waving?Are these the jobs that grow on the magic jobs tree that I read about in "Free Market Fairy Tales"? Are you promoting a fairy-tale notion that everyone can have a solid middle or lower-middle class job if only everyone had the education, skills, and ability for it?
How many other jobs have been replaced by machines that now no one cares about? When you see a farmer in a tractor do you drive by fist waving?
When you drink from an aluminum can do you feel guilty that it used to take dozens of people on a can line and now it's just a handful of people? Same with an automobile or any other assembly line item.
Honestly this is going to keep happening and drone jobs will always be the first to go. I don't like it either but we live in a capitalist society where no one votes with their wallets cause it's too easy to just point at CEO's and say it's 100% on them, but yet people can't seem to resist to run out and buy one of their products.