I guess it depends on where you live also.
Funny how McDonalds didn't go bankrupt when the effective min wage was $11.00/hr in the 80s
no it doesnt. 160K a year is damn good money anywhere in the country.
I agree with this. People have just got to think. One caveat to this story is that they are paying $7-8 in NYC, and its unsustainable for someone to commute into NYC for a job that pays $7-8 because the living costs are so high in NYC and the other locations they are on strike at. My thought was that McDonalds should give them a $1 raise, explain its only for those location because the living expenses are so high, and say if they strike again they are fired.
no it doesnt. 160K a year is damn good money anywhere in the country.
so when enough people decide it's not worthwhile to commute to the city to work, the labor supply dries up and McD's will have to offer higher wages to attract employees.
What policies were changed to support the workers - unions? Taxes? Min wage? Handouts?
Unions came after technology and innovation.
You're highly ignotant about the issue and history of labor issues. I could recommend some reading to you to help with that, you have no interest, so you'll stay ignorant about it.
which will make the price of product go up as well. do you honestly think companies will just absorb the cost of higher labor? no they will raise prices. then the min wage workers will be in the same boat the are now.
No, the prices won't necessarily go up due to the nature of supply and demand - the price will be whatever the market will bear.
If the companies thought that they could raise prices without impacting on sales then they would have already done so.
In a vacuum you'd be right. But the point he is trying to make is that if all the min wage workers get more money for the same work, it has an effect similar to inflation. The chain raises prices, which the min wage workers can afford with the increased money... then we are right back where we started.
And the point I'm making is that the chain won't necessarily raise prices.
no it doesnt. 160K a year is damn good money anywhere in the country.
Let's say you live in SC, have no debt, on $160K.......Say you have medical bills, and you and your wife both just finished professional degrees (say law, or business school), and have student loans from grad + undergrad. You both have jobs in Manhattan. You could easily be on a KD diet.
Oh, so your four bedroom house had two of it's bedrooms removed, and attached to a 1%'ers house?
No it didn't. Because you didn't lose half your wealth, you lost an imaginary number attached to your actual wealth. A number that go too far removed from the real value in the first place due to uninformed idealists like yourself who think they can manipulate the system.
no it doesnt. 160K a year is damn good money anywhere in the country.
160k is good money, but it's a huge difference making that amount and living in NYC or living in Texas.
Doubling McDonald's Salaries Would Cause Your Big Mac To Cost Just 68¢ More: Study
Macdonald can afford to pay it's workers a decent wage and they should.
It's a tough call, because in some cases the state minimum wage is fine for employees in the majority of the state, but in a city like NYC it's no where near possible to survive on.
It's too bad they can't alter minimum wage a little more specifically based on geographic location and average income for the area. Instead these corporations threaten to leave when they are forced to pay their employees more.