Posted on 02/18/2017 8:22:47 PM PST by Tolerance Sucks Rocks
For Americans hitting the drive-thru at their local McDonald’s, a $15-an-hour minimum wage could hit them in their wallets.
According to a January report released by James Sherk, a former research fellow in labor economics at The Heritage Foundation, fast-food prices would rise by 38 percent under a $15-an-hour minimum wage and cause a 36 percent drop in employment.
Sherk’s research comes after several cities and states across the country voted to raise their minimum wages, with increases typically phased in over the next five years.
Additionally, several Democrats have advocated a $15-an-hour minimum wage at the federal level, as does Sen. Bernie Sanders, I-Vt., who spoke about the need for an increase to the federal minimum wage while campaigning for president last year.
In his paper, Sherk said that raising the minimum wage would lead to higher labor costs for fast-food restaurants. Restaurant owners operating on already slim profit margins would then need to raise their prices.
Those higher menu prices would have a direct impact on customers who frequent fast-food establishments.
Here’s how prices at some of the most popular fast-food restaurants would change with a $15-an-hour minimum wage.
(Excerpt) Read more at dailysignal.com ...
PING!
As most elected dims have not been involved in the private sector this is lost upon them.
Every lib is going to say “I’d be willing to pay a little more to help people get a living wage.” and say the price increases would not be a big deal.
Then sales would drop 30% and they’d say they never eat fast food in response.
The upside? I’ll lose a few pounds. :-)
lol You nailed it.
Actually, the 15 wage might add 10 years to my life :)
Bring in the kiosk and the robots.
Fixed!
Perhaps, but even in Walmart grocery section I’m shaking my head an mumbling about, “How are we supposed to live?”
I do not go there, but I notice from ads in the paper that a Whopper now costs upwards of $5.00. Gotta be the minimum wage that is doing this.
Yea, I do remember when the King first opened and the Whoppers cost 80 cents . . . and the meat was real.
The $15Wage is a misnomer. Add Payroll Taxes, Unemployment Taxes and other benefits and that $15 turns into $18.
The only way around it is having 1099 Contract Employees instead of Hourly and Salaried Employees.
I do shoprite and the prices are still pretty good.
You think Walmart workers get paid more?
I’ve never bought food in a Walmart so i can’t compare prices.
Thank God chicken’s always cheap!!
The left media tells us how much President Trump’s 20% tax on Mexican imports would add to the costs of everything from asparagus to Corona. But they never tell us hpw much the $15 min. wage would add to the stuff we buy.
Plus the $15 min. would drive what’s left of small retailers out of business - anybody who employs kids from HS or college to clerk.
I work in food service, with tips I average more than minimum wage. If minimum wage rises I will make far less than I do now. Prices will rise and business will fall. Those who do come to the restaurant will be annoyed by the price hikes and tip less.
The meat is still real...but it is not necessarily beef.
Aldi opening in a town near us changed our lives. Food is so much less there that I no longer ask that question. I still shop at Walmart for the things Aldi doesn’t carry, but I’ve managed to keep our weekly grocery budget close to $200 for the past several years thanks to Aldi.
Uh oh, I see Big Mac Monday fading into the dustpan of History.
They’re worth the $2.19 I pay on Mondays, but I would never pay the $3.99 regular Menu Price they are now.
Will my $.79 Senior Drink be another casualty? LOL
Why stop at $15 an hour? If the liberal’s intent is to give everyone a “living wage,” whatever that means, why not $25 an hour? Or better yet, why not $1000 per hour? Would that not give everyone a better “living wage?” These buffoons are simply that, crazy idiotic buffoons who know nothing except forcing their will on everyone.
The only benefit of communism. It cures obesity!
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