Posted on 01/05/2014 4:25:51 PM PST by SamAdams76
My son, recently graduated with a MS in Mechanical Engineering, has a completely different take on the $15/hr minimum wage idea.
He is in favor of it, because it will drive more demand for automation in food services, which will help him and his industry.
Raise the minimum wage high enough, and your job, too could be automated away.
$15 per hour used to be good money.... Like, 20 years ago...
If the social planners think business is going to open its arms to hordes of uneducated and unskilled newly legitimized foreign nationals when they can get experienced English speakers for their $15/hour who are not interested in joining a union. They are misinformed.
And wouldn't want to join a union. As an aside you could use the extra income for an IRA.
The protestors are all old enough to have had ample opportunity to work their way up past minimum wages jobs. Maybe it’s a problem with their work ethic. Plus the guy in front appears to be in need of AIDS meds.
It’s ECON 101. An increase in the price of labor equates to an increase in labor supply and a decrease in labor demand, which results in a surplus of labor - also known as ‘unemployment’.
That is very true, but the kids and immigrants will lose their jobs so burgers will be outside of their budget. Rich folks can afford the extra 25% but will go elsewhere anyway.
That what this "fight for 15" bunch is setting themselves up for.
He does have that “Freddie Mercury” look to him, come to think of it!
most of the burger flippers in my neighborhood are qualified for “stamps” along with their pay.....they dont want to make 15 bucks an hour for a 40 hour week..they wanna may 15 for a 20 hour week...still get the “stamps”..
Looking back at the sign in the photo, I see they should cross out all that stuff past “I demand” and just write “ a nanny and regular diaper changes”.
These people are infants by choice and will bang their rattles and squeal and scream when $15/hr jobs go to... those whose work is worth $15/hr.
Can’t even hope for an alien abduction... aliens would beam back to their own planets stat as soon as they got a close look at these losers.
“Do you realize the labor is only 25% of the total cost of a fast food meal? So do the math; doubling min wage will only increase the retail price by 25%.”
Since obummer took over the white hut, the price for a combo meal at What a burger went from about $4.50 to over $8.50.
Most people of meager means are dining on the dollar menu.
$15 dollars an hour for someone who can’t put two creamers In a medium coffee?
No thanks, bring on the robots.....
At $15.00 an hour, a college degree may just be a requirement to sling fries. {sarcasm)
Naah, they won’t raise prices that much, they’ll just automate more and the $15/hr will go to a manager or other more skilled person who keeps the machines running.
Absolutely EXCELLENT article. I’m retired, and have this expensive Kindle book habit. I could read a little less, pay for my habit...socialize and probably have some left over for a new fishing rod. Tempting, really tempting. (...and I’m not kidding!)
If they do get $15, that will devalue our straight income so we’ll HAVE to get a burger flipping job just to stay even.
The price of that potato alone would be $14. Vicious cycle.
Michey D has already kissed their dollar menu goodbye. It’s now the value menu with items up to $5. Or so I’ve heard since I can’t afford to eat there.
Years ago the sales pitch for a Taco Bell type franchise went like this:
1/3 of expenses are for fixed costs, buildings, equipment and utilities.
1/3 of expenses is for the cost of food.
The 1/3 left over is potential profit. Labor was spread over all three parts based on revenue.
About a 100k investment plus capital costs, needed one year expenses in the bank.
Sad to say, but in my area I can only depend on Whataburger and Chic-fil-a to have actual Americans owning them.
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