And it always ignores market standards.
On average the fast food industry wages are between 25-35% of revenues which is in line with most other industries and the norm for anybody wanting to run a company. So by raising wages by 100% that would mean you would have to raise the price of a Big Mac by an average of 30%, from say $4 to $5.20 an increase of $1.20 to stay in line with spending of around 30% of a company's wages per revenues. And that's just a Big Mac, all the other food options would have to be raised the same 30%, cause not everybody enjoys the Big Mac.
It's nice that you can afford the extra cost of a MacMeal but what would the price increase do to the low income person or family who can barely afford to spurge on a outing at a fast food restaurant. You can bet those $1 deals would be rare if not vanish all together.
This idea of trying to make the minimum wage a living wage will only hurt most people in the long run.
Current Events » in reply to Then why worry about it?
Funny math
The whole thread (32 posts)
- Fast Food workers going to strike tomorrow.
- Inflation will even things out in the end.
- Not if there is already an imbalance
- Why do you bother?
- Then why worry about it?
- Well, let's look around.
- Yea. People who try to increase their income are stupid.
- Inflation will even things out in the end.