Get ready for $12 hamburgers
I also worked various jobs in local clothing and hardware stores, where I learned how to do things like deal with ornery customers, measure an inseam, iron shirts, cut pipe, wrap Christmas gifts and put bicycles together. Over one Christmas break, since I was then majoring in accounting, I was assigned the task of taking inventory in a hardware store that had at the time been in operation for more than 80 years. You could never believe how many hundreds of thousands of screws, bolts, washers and nails one store could accumulate over such a long period of time.
Jerry Clower story about the son who came home from college and told his Dad they needed to close the store for a day to do an inventory to determoine the profit of the store. Dad told hime to go way back there in the corner on the top shelf. Up there he would find a remaining piece of a bolt of cloth. Dad said Mom bought that bolt of cloth on the next day they opened the store. He said son, ‘That is inventory, all the rest of this in this store is PROFIT, now open this store and do business!
Thanks, but I have a stove and frying pan. And even a mixer attachment to turn bottom round into fresh E-Coli free hamburger.
Presently, for a XL whopper menu (fries, Coke included) in Nashville is $9.49.
If you do the $15 minimum wage, it’s probably going to escalate to around $12. But then you need to figure another 25 cents minimum on the city sales tax. Figure around $12.30 to $12.50 total For a family of four (two kids in the mix)....you’d be talking about $40 now for a dinner out.
With a gas grill and shopping cheaply...I can beat the BK pricing situation easily.
My first job was at an amusement park in 1975. Since it was consider ‘seasonal’ they did not have to pay us minimum wage legally. So they paid us $1.80 instead of $2, BUT if we were still on the payroll and worked a weekend after Labor Day (when the park was only open weekends till Oct 31), then they gave us a $.20/hr bonus for all the hours we had worked that summer.
The thought behind my tag line came up when the first stimulus happened. I was already expecting serious inflation, but the government response to the government shutdown clearly pointed to huge - if not hyper- - inflation beginning in 2021.
And here we are...
Fact is, the minimum wage is the “floor” too the cost of living. When you raise the floor, you raise it all. The only ones to benefit are those that get a temporary benefit when they don’t lose their jobs and their income goes up before the general economy catches up. And then we are right back where we started.
And the federal government needs price inflation to monetize the debt.
Meanwhile, state and local governments need taxes. Taxes are generated from people buying and selling, producing and consuming. When the lockdowns reduced or eliminated that, well, let’s just say that states and municipalities are in a world of hurt. We’re just not hearing much about it. They are like mom and dad trying to do the monthly bills a year after they got laid off, and we’re the kids that they keep re-assuring that everything is fine - except they just got an eviction notice.
Buckle up.
This crazy talk that gets republicans in trouble.
Let my explain: Labor is but one cost in a bigger production cost structure of food service in general. A $5.00 hamburger has many costs built in to the price. Labor is around $1.50 for a $5.00 hamburger. So is labor goes up 33% then the cost goes up 33% of $1.50 = $50. So the new price is now $5.50 and NOT $12.00!!!
We seldom eat out, even places like Chili’s, food comes out cold, to much SALT, PEPPER, we eat Both have heart conditions. High end for us is Longhorn’s. Maybe 4 times a year. IHop is the most favored, still have to watch what you order, and which location.