Study: California's $20 fast-food minimum wage improves pay at small cost to consumers
Study: California's $20 fast-food minimum wage improves pay at small cost to consumers
www.axios.com
Just a moment...
43 comments
-
So if it added ".06 to the cost of a four dollar hamburger" to pay people a living wage, why are we not doing this everywhere?
Is it millionaire greed? I bet it's millionaire greed.
Brad Close, CEO of NFIB (National Federation of Independent Businesses). NFIB speeds more money lobbying to keep people poor (124 million) than than take in each year (113 million).
Brad makes over $480/hr (or 1 million dollars a year) to lead a company that tells the government you shouldn't make more than $7.25/hr. He must be 66x smarter and more productive than those making minimum wage.
That's just one example, look up Serv-Safe and the National Restaurant Association. It's not an accident these workers are poor, it's on purpose.
-
Is it millionaire greed? I bet it’s millionaire greed.
Close, but it's billionaire greed. Those fractions add up to a second summer home/yacht at the end of the quarter. You think they're gonna just give that away so peasants can (barely) earn a living??
-
I'm fine with min wage so long as it is handled by hard research and science and not politicians or lobbyists. Although even scientists can be corrupted but at least it is backed by verifiable facts.
-
Is it millionaire greed? I bet it’s millionaire greed.
For the same reason I will shit on billionaires any time they get a headline for a charitable donation. The rich are fucking vampires.
-
When Obamacare was being debated the CEO of Papa Johns opined that pizzas would cost an extra $.14 if he had to provide healthcare to all his employees.
According to "Papa" John Schnatter, the cost of providing health insurance for all of his pizza chain's uninsured, full-time employees comes out to about 14 cents on a large pizza.
Have not eaten their since 2012.
We're up against voters who think that's a reasonable take.
-
"It would increase the price of the pizza by fourteen cents" is a reasonable take.
"I am not willing to do that" is not.
-
Thank you for reminding me of the exact reason they are on my shitlist.
-
-
Because they sell a massive amounts of hamburgers and that cost savings is valued higher than some wear part humanoid asset to the AI generated spreadsheet some C suite Connie approved automatically with their risk assessment digital personal assistant.
-
-
It shouldn't have cost consumers anything.
The mark up on fast food is ridiculous and the only reason that the companies, and more specifically the franchises, haven't just absorbed the increase in labour cost is pure greed.
-
But... most people, even you won't cut your own income/salary/increments to increase the salary of low-income workers. If not, they would have done so voluntarily.
Did you ever reject your pay raise and ask the boss to give a raise to the low income staff below you instead.
Business income is not magic, and earnings are divided based on salary structure. The income is divided between all staff, i.e., you get your high salary at the expense of low incomes.
The other way to get more money to raise min salary is to raise prices of product/services. But... why let poor customers suffer?
Where do you think the salary money will come from. Why signal so much concern, but when it hits your high salary, it is no go. Many are unwilling to take a tiny salary cut to help low income.
Some think money will 1000% go to C-suite/investor salary/income if everyone take a miniscule pay cut, even after a company guarantee a pay raise for low income in contract. Hardly anyone want their filthy obscene high salaries to be touched so they will come up with all sort of reasons, NIMBY, they want the money for low-income salary to appear by magic.
-
The money is not divided between you and them, you shouldn't have to reject your own pay rise because that is not the reason the low income staff is earning too little. Also, what makes you so holy then?
-
-
Many are unwilling to take a tiny salary cut to help low income.
If anyone were to take a salary cut it 1000% would never ever ever go to the low income workers and would go into the C-suite / investor’s pockets.
Plus, I’m mad when a fast food worker makes as much money as a teacher…. Because teachers should be making even more. (This is just one example)
-
-
-
Revenue Per Employee doesn't actually have to be 1000x their wages.
Revolutionary study. Next you'll tell me the sky is blue
-
It should stipulate it has to come out of salaries of any above a certain threshold from the lowest paid full-time employee. No more run-away pay. If you want to get rich you gotta make sure the lowest down can at least afford to live.
-
like CEO pay must not be more than 10 times the amount they pay their lowest paid worker?
that sounds fair-
Used to be 40x, I could live with that. At $20 min. wage, that's about $1.65M. Fair enough for a monster corporation's CEO. Would you hire some asshole who says he'll run McDonald's Corporation for 10x at $416K? I'd be sus.
And here we have the facts of the matter:
The CEO and now chairman of McDonald's was paid $19.2 million last year in salary, bonuses and stock, according to federal securities filings.
That breaks down to an hourly wage of $9230.77, not including holidays, PTO, etc. 462x the lowest paid employee in California. 40x doesn't sound so bad now, does it?
But still, CEO pay ain't the problem, it's a symptom of runaway capitalism. Ran the numbers a couple of years back on American Airlines. If their CEO took zero compensation they could award every employee a $236 yearly check. I'd be fucking insulted if that was my Christmas bonus.
-
Also if they try to pull a "These aren't employees they are independent contractors that just happen to work in my store and wear my uniform and..." we hang them as an example to the rest.
-
Even better would be if a CEO can only earn more than their lowest payed workers if everyone they employ earns at least a livable wage.
-
That's how Pirate's codes were written, a deck swabber gets one share of the loot, a cook gets two, officers get three, and the captain gets five.
And if the crew isn't happy with the captain they could vote him out and elect a new one.
Yarr
-
-
-
$20 minimum wage impact per burger is minimal, like under 50 cents. What's the excuse for COVID prices still being in effect? Supply chain problems my ass.
-
Cool now lets do it everywhere and tie it to inflation.
Means testing is a fucking trap to block real solutions to problems.
-
They'll still further increase prices citing this as the reason to maximize profits further, knowing consumers don't actually shop around much.
All these fast food places seem to have forgotten the place they sit in the economy. They're now the cost of a regular restaurant in many places, and often take just as long now. They just happen to have a drive thru window, and even that's not a guarantee for many of them anymore.
Why should I pay McDonald's $15 for a burger meal when I can get the same thing at the same price from a better quality fast food place, or an actual restaurant burger for the same price?
The only reason people are still going there is because they haven't looked around to realize that other businesses haven't inflated their new prices under the guise of inflation the same way, and those other options are now a much better deal.
-
Stupidly enough, I believe that paying employees more actually results in higher profits for the company long-term!
If an employee isn’t stressing about making ends meet, and rather can focus on taking pride in their work because they feel respected, then it would show in the presentation of the food, and upkeep of the restaurant.
Cleaner, friendlier restaurants where the food looks (somewhat) like what’s advertised will see an increase in traffic and therefore revenue.
-
We should keep pushing for higher min wages until it is cheaper to use automation, self checkout and etc. It is sad to see workers struggling at restaurants, preparing burgers and cleaning tables. no one should be doing such menial work.
Other than tech, low min wage is one of the things holding us back from full automation. High min wage will accelerate automation hopefully.
-
43 comments