Biden to double minimum wage

[Bleipriester]

Does that impact demand for McDonalds?

Who pays six bucks for a burger will also pay seven.

Unless paying $6 bucks is already busting your budget. People don't eat at McDonalds because they live the life of Riley--- --- it wasn't all that long ago I used to go to a restaurant and get a complete three course dinner complete with coffee and desert for $8.99.

In that case I don´t buy that burger, anyway.

So whatcha gonna do when that burger costs $15???

Why should I care if I don´t even buy it at $6?

 

[Bleipriester]

Why do you think doubling the minimum wage would be a good thing?

I already explained it. It will make them buy more stuff, thus boosting the economy.

But it won't.

Right now, you get paid $7.50 an hour. You can buy a gallon of milk for, let's say, $3.49.

Well, when the government mandates that minimum wage goes up to $15, the retailer has to raise his price for that gallon milk. Why? Well, for starters, because they kid who used to stock the shelves at $7.50 and hour is now making double that. The retailer isn't going to simply absorb that extra $7.50, he's going to pass that on to you, the consumer, and there's not a single reason in the world why he shouldn't.

Furthermore, though, the retailer is also now paying more for that gallon of milk. If he buys a gallon of milk from a dairy, the guy running the milking machine is now making $15 an hour when he used to be making only $9 an hour. The dairy owner isn't going to absorb that extra $6 an hour, he's going to pass that on to his customers (ie: the retailer). The company that makes the bottles the milk goes into, likewise has to raise their prices, as does the companies which ship and deliver the milk, all because everyone is going to do everything they can think of to mitigate the negative impact of the higher operating costs on their bottom line.

I haven't had a minimum wage job since the Carter administration. Back then, minimum wage was $2.65 an hour. Man, I'd have thought doubling it to $5.30 an hour would've been great! Why? Because back then, when I was 16 years old, all I cared about was how much cash I had in my wallet, and not so much about what that cash could buy.

And of course, it is better for them. Once you are on 7.25, you will agree with me.

What people need to lose is the unfounded expectation that a person should be able to support a family of four on a minimum wage job. That's stupid. If you're married with kids, and you have a minimum wage job, you seriously fucked something up along the way...

As you know, this is far beyond the willing comprehension of the Democrats. They put their fingers in their ears and start shouting LA, LA, LA, LA, LA, as loud as they can, blocking out all common sense.

Your typical Democrat.

Don´t post fucking boys at me.

Okay,

No fairies either.

 

[Canon Shooter]

After all that fat cat socialism under the Blob, Biden has some real useful present for the populace: An increase of the federal minimum wage by more than 100 %.

Biden minimum wage proposal could lift more than 1 million workers out of poverty

Federal minimum wage has been frozen at $7.25 for more than a decade, the longest period without a raise since 1938.

www.cbsnews.com

All that means is that a lot of kids will be losing their jobs, while everyone else will demand a raise of $3-$8 dollars to stay proportionally ahead of minimum wage.

Or are you that stupid to think skilled people making $16.00 an hour and with lots of responsibility won't mind suddenly finding kids flipping burgers at Wendy's making as much as them?

Prepare for the cost of EVERYTHING to go up.

If everyone gets more cash, where is the problem? High wages are what made your economy strong.

If everyone gets more cash, then you have a zero sum gain. Wages go up for all but so do prices. End result is nothing gained. You are no farther ahead. An unskilled worker is only worth as much as the value of what they produce, and they can make hamburgers and shakes with robots and machines.

If as burger cook is worth $15.hr, that in effect devalues the dollar and will raise prices on everything.

He just has to sell three BigMacs per hour to get the money for his wage. He is selling way more.

He just has to sell three BigMacs per hour to get the money for his wage.

What are the inputs needed to make a Big Mac, besides labor?

He is selling way more.

He's probably selling way fewer at the new, higher price.

Then McDonalds should not raise the prices?

What part of this can you not possibly get? This is a 6th grade problem. To pay an employee $8.50 (min wage), McDeath has to charge about $9.00 for a BigMac, L Fries & Shake. Now what happens if he pays his employees $15/hr? He'll have to cut several jobs and make the others work harder (making it harder to get and keep employees further raising his cost), or RAISE PRICES a lot.

Now that $9 meal costs maybe $15. But no one else's wages have gone up so people buy less. Those who buy the $15 meal, now THEIR cost of living has gone up, so now it is like they are making LESS. Then sales go down and the store has to either go out of business or cut staff further, reduce wages (whoops, can't do that), or INVEST IN AUTOMATION TO REPLACE PEOPLE and people lose jobs.

Either way, you can't FORCE the free market with government intervention otherwise, it is no longer free.

McDonalds has a net profit margin of over 25 %. This is way above average. So they are cashing in on the misery of their employees. Easy to understand.

A McDonald's Quarter Pounder with cheese has a menu cost of $3.79. They've got those now, though, as a part of their "2 for $4" promotion. They can do that because the actual cost of that burger to a franchisee is only around $1.05. If he sells two of them at the normal price he's making a profit of $5.48. By sellinig them at two for $4, he's making a profit of $1.90, while at the same time offering what the customer sees as a great deal.

None of those are a 25% profit margin. A medium soft drink at McDonald's has a profit margin of around 90%. An order of large fries? That's got a profit margin of around 85%.

Your posting history in this thread makes it pretty clear that you don't really know the first thing about what you're talking about. You'd likely fare far better if you educated yourself a bit...

I didn´t guess the 25 %. I looked it up.

I don't believe that.

See, the difference between you and I is that I actually know what I'm talking about. I have actual experience in many different facts of life which provide me the information I need.

A McDonald's franchisee doesn't pay 75¢ for a soft drink that he charges someone $1 for.

But that's exactly your argument...

It pays for more than the drink itself.

Seriously, just stop...

Here’s Why All Sizes of McDonald’s Soft Drinks Are Only $1

 

[BlueGin]

When "the bottom line" means "survival" the mind becomes focused. If some jobs go and the business lives then some jobs are saved. But with the progressives they're rather have everyone unemployed and on welfare than some earning their keep.

Lets make a deal. You cons do the low wage jobs and save them this way. 7.25 is a joke, I earned that in a vacation job.

Most businesses pay more than $ 7.25 hr. Even fast food. Example. Target pays $ 14.00/15.00. Starbucks pays $ 10.00 + they pay consistent with what the other similar companies/ outlets pay via the market.

 

[toobfreak]

Does that impact demand for McDonalds?

Who pays six bucks for a burger will also pay seven.

Unless paying $6 bucks is already busting your budget. People don't eat at McDonalds because they live the life of Riley--- --- it wasn't all that long ago I used to go to a restaurant and get a complete three course dinner complete with coffee and desert for $8.99.

In that case I don´t buy that burger, anyway.

So whatcha gonna do when that burger costs $15???

Why should I care if I don´t even buy it at $6?

So you don't care you can't afford a hamburger? You have a stupid answer for everything.

 

[Toddsterpatriot]

How is it a reduction when the money is just being redistributed?

You said, " I already explained it. It will make them buy more stuff, thus boosting the economy."

How is it a boost when the money is just being redistributed?

Because a the employees are distributing the money, not hoarding it.

Because a the employees are distributing the money, not hoarding it.

Right, because owners hoard their money.

You read that in an Econ book? DURR.

 

[Toddsterpatriot]

No. Who pays six bucks for a burger will also pay seven.

The higher price won't decrease demand? Link?

 

[Toddsterpatriot]

Blitzbulb, its the net profit margin.

Link?

 

[The Irish Ram]

After all that fat cat socialism under the Blob, Biden has some real useful present for the populace: An increase of the federal minimum wage by more than 100 %.

Biden minimum wage proposal could lift more than 1 million workers out of poverty

Federal minimum wage has been frozen at $7.25 for more than a decade, the longest period without a raise since 1938.

www.cbsnews.com

Businesses will go automated. Job losses, more poverty and more government assistance.

( At least you're in the right Location... )

 

[basquebromance]

that's not enough. in economics, there is no such thing as enough. it's not about money, it's about MAKING MORE MONEY!

 

[Wyatt earp]

So the employer is going to pack in?

Hopefully not

but they often reduce the number of employees they hire

sometimes that means slower service, sometimes it means automation

but it always means good news for the democrat party

That is anyway the case.

Do you care if private companies are forced out of business?

many libs dont care at all

Do you care about people suffering 7.25?

How so?

 

[irosie91]

So the employer is going to pack in?

Hopefully not

but they often reduce the number of employees they hire

sometimes that means slower service, sometimes it means automation

but it always means good news for the democrat party

That is anyway the case.

Do you care if private companies are forced out of business?

many libs dont care at all

Do you care about people suffering 7.25?

How so?

capt. blei has endorsed the theory of IN CASE OF SOCIAL DYSFUNCTION ----THROW MONEY AT IT

 

[irosie91]

Does that impact demand for McDonalds?

Who pays six bucks for a burger will also pay seven.

Unless paying $6 bucks is already busting your budget. People don't eat at McDonalds because they live the life of Riley--- --- it wasn't all that long ago I used to go to a restaurant and get a complete three course dinner complete with coffee and desert for $8.99.

In that case I don´t buy that burger, anyway.

So whatcha gonna do when that burger costs $15???

Why should I care if I don´t even buy it at $6?

very good Capt. Blei----stick it to the hungry
latch-key hood kid

 

[Wyatt earp]

After all that fat cat socialism under the Blob, Biden has some real useful present for the populace: An increase of the federal minimum wage by more than 100 %.

Biden minimum wage proposal could lift more than 1 million workers out of poverty

Federal minimum wage has been frozen at $7.25 for more than a decade, the longest period without a raise since 1938.

www.cbsnews.com

All that means is that a lot of kids will be losing their jobs, while everyone else will demand a raise of $3-$8 dollars to stay proportionally ahead of minimum wage.

Or are you that stupid to think skilled people making $16.00 an hour and with lots of responsibility won't mind suddenly finding kids flipping burgers at Wendy's making as much as them?

Prepare for the cost of EVERYTHING to go up.

If everyone gets more cash, where is the problem? High wages are what made your economy strong.

If everyone gets more cash, then you have a zero sum gain. Wages go up for all but so do prices. End result is nothing gained. You are no farther ahead. An unskilled worker is only worth as much as the value of what they produce, and they can make hamburgers and shakes with robots and machines.

If as burger cook is worth $15.hr, that in effect devalues the dollar and will raise prices on everything.

He just has to sell three BigMacs per hour to get the money for his wage. He is selling way more.

He just has to sell three BigMacs per hour to get the money for his wage.

What are the inputs needed to make a Big Mac, besides labor?

He is selling way more.

He's probably selling way fewer at the new, higher price.

Then McDonalds should not raise the prices?

They will raise the prices.
Does that impact demand for McDonalds?

No. Who pays six bucks for a burger will also pay seven.

Won't they be a dollar shorter?@

I didn´t say that.

Uh, yeah....you did

If everyone gets more cash, where is the problem? High wages are what made your economy strong.

That is not how you interpreted it. Apparently.

An economy thrives ONLY WHEN HARD WORK IS REWARDED WITH GOOD PAY.

Not because you hand out "free" money to all
In fact, handing out "Reward (higher pay) without a return in increased productivity is the definition of creating a Welfare state

Since Democrats will have control from now on, we will watch thinking like this destroy productivity and create a National welfare State coast to coast

Hard work, that is McDonalds slave labor, Amazon slave labor, Domino´s slave labor. The more people you push into poverty wages the less the economy will thrive. You are all about employers, government work is about the entirety of the society. With you governing you turn the US into Brazil within few years, a country that receives humanitarian aid from Venezuela.

You've got your head up your ass.

My daughter's fiance works for Amazon and makes around $140K a year. I have a friend who works for them in Texas, in their warehouse, making $28 an hour.

Pull your head out of your ass before you post...

Ok I googled it and Amazon is not paying the minimum wage. How can they afford it? Best Buy has its own minimum wage of $15. So does Target. Why McDoanlds can´t afford it? All your points are null and void.

90% of mcdonald's is not cooperate owned , meaning small business

 

[Staidhup]

After all that fat cat socialism under the Blob, Biden has some real useful present for the populace: An increase of the federal minimum wage by more than 100 %.

Biden minimum wage proposal could lift more than 1 million workers out of poverty

Federal minimum wage has been frozen at $7.25 for more than a decade, the longest period without a raise since 1938.

www.cbsnews.com

Biden and his socialist team will have us in another great depression within 6 months....they have no idea how a economy works.


View attachment 443430

Trump says the economy does better under the Democrats.

It does for the rich, just not the middle class and below.

 

[Markle]

McDonalds has a net profit margin of over 25 %. This is way above average. So they are cashing in on the misery of their employees. Easy to understand.

As you know, that is not true.

Unless any of McDonald's employees are slaves, they are not miserable.

The average McDonald's franchise owner nets about 6%.

Food costs in a typical sit-down restaurant need to be between 28% and 32% of the cost of the typical menu item.

 

[Markle]

Young people on minimum wage become old people on minimum wage. Such jobs don´t include oppertunities.

That is just ignorant. Why do you want to appear so foolish?

Do you believe that everyone remains in the income bracket in which they begin their first job? Are you working in the same income bracket as your first job? In my first "real job" I earned $0.85 per hour, which was $0.15 below the minimum wage and we made tips.

 

[Markle]

I didn´t guess the 25 %. I looked it up. [Profit margin for McDonalds]

Malarkey!

 

[Markle]

It pays for more than the drink itself.

Wow, do you mean that what they sell is supposed to pay all the overhead, utilities, maintenance, labor, insurance, and the list goes on, and on, and on?

 

[Markle]

Why do you think doubling the minimum wage would be a good thing?

I already explained it. It will make them buy more stuff, thus boosting the economy.

But it won't.

Right now, you get paid $7.50 an hour. You can buy a gallon of milk for, let's say, $3.49.

Well, when the government mandates that minimum wage goes up to $15, the retailer has to raise his price for that gallon milk. Why? Well, for starters, because they kid who used to stock the shelves at $7.50 and hour is now making double that. The retailer isn't going to simply absorb that extra $7.50, he's going to pass that on to you, the consumer, and there's not a single reason in the world why he shouldn't.

Furthermore, though, the retailer is also now paying more for that gallon of milk. If he buys a gallon of milk from a dairy, the guy running the milking machine is now making $15 an hour when he used to be making only $9 an hour. The dairy owner isn't going to absorb that extra $6 an hour, he's going to pass that on to his customers (ie: the retailer). The company that makes the bottles the milk goes into, likewise has to raise their prices, as does the companies which ship and deliver the milk, all because everyone is going to do everything they can think of to mitigate the negative impact of the higher operating costs on their bottom line.

I haven't had a minimum wage job since the Carter administration. Back then, minimum wage was $2.65 an hour. Man, I'd have thought doubling it to $5.30 an hour would've been great! Why? Because back then, when I was 16 years old, all I cared about was how much cash I had in my wallet, and not so much about what that cash could buy.

And of course, it is better for them. Once you are on 7.25, you will agree with me.

What people need to lose is the unfounded expectation that a person should be able to support a family of four on a minimum wage job. That's stupid. If you're married with kids, and you have a minimum wage job, you seriously fucked something up along the way...

As you know, this is far beyond the willing comprehension of the Democrats. They put their fingers in their ears and start shouting LA, LA, LA, LA, LA, as loud as they can, blocking out all common sense.

Your typical Democrat.

Don´t post fucking boys at me.

Okay,

No fairies either.