Ted Cruz my new hero, his state has no power, people are freezing and dying. What does Ted do? Head to Cancun!!! I sort of respect that move
^^^ Maybe Biden and his sidekick Harris should go down there and open their mouths and let out a blast of hot air. Could possibly melt all of the ice.
Make a big mac cheaper We would need to see more data, too many different variables for the below meme. For one both of those countries have a taxpayer-funded healthcare system, USA does not. The question needs to be looked at with total benefits and not just wages. What does Walmart with the health insurance for full-time employees make? What does a worker in Frances make after 21% healthcare tax? Too many what if's and things that would have to change. You can't have employers foot the bill for healthcare and a 15.00 hr wage, they'll go under.
Don't knownwhat it will do to the economy, but I can say that those who are currently near the poverty line will not go above it for long. As soon as the pricing reflects the new waging or they lose their job as a result of cost cutting measures it will be the same result/status quo we have now. It's kinda like people stating a similar job in California pays $35 an hour compared to them in Small town USA. They fail to compare cost of living difference that negates the difference in hourly wage.
Increase unemployment (especially for <21 and those in service jobs), incr inflation and incr debt. Kiosks/self service (your already doing this in stores) and automation would replace min wage workers, as has already been shown in places like NYC and California. Cbo already did a study and the news ignored most and cherry picked the parts they wanted... https://www.cbo.gov/publication/56975
That has to be a Big Mac meal, doesn't cost anywhere near that for a stand alone Big Mac sandwhich here. Maybe NY and California, which is case in point for my above post. When you raise the min wage, the costs of living goes up with it. The poverty line will stay the same, it will just be a higher dollar amount. Instead of it being 27k it will raise it to 46k. Hypothetical numbers pulled out of the air for an example, not actual numbers.
It will also affect skilled labor positions, I know I won't see a raise of the gap I'm at now compared to min wage.
well if employees at Mc D's want 15$ an hour they damn well better start getting my order correct...instead of the 16 year old playing on his phone at lunch hour and running the drive thru, maybe hire an adult that has something to lose...
It may. But for most production, if costs (labor or materials) rise, the cost of the services or finished goods is past to the consumer.
Which is pretty much the same point. If wage gaps stay the same the only thing that really changes is pricing. McDonalds worker making 9.50 an hour now makes 16.75, trainee makes 15 and both of their expenses have increased so they make more, yet they spend more for the same things they've always spent on. It sounds good in a campaign and political fight, just doesn't look good when you put it to paper. All it's going to do is make more arguments for socialism and Bernie/AOC's universal basic income.
Mcd would replace most employees with robotics and automation. So not only would their ice cream machine be perpetually broken... Agree on the campaign rhetoric. UBI a separate pipe dream... Didn't work in the the Scandinavian country that piloted it, and killed it
It will hurt small businesses. They will react by either reducing their staff (firing people), reducing the overall benefit package of each employee, raising the price of what they make/sell, or take home less money themselves to cover the newly increased wages. Big corporations do this all the time, cut costs to keep profit high. Small businesses get hit harder because they don't have as much leverage. It's an indirect tax on Americans. It takes away your buying power. Yes, some lower income folks now have more money to spend, but the price of goods and services go up, so the end result is the same. Cls74 had a good point.
