Posted on 02/22/2021 5:59:52 AM PST by gaggs
Materials, Supplies, Labor, and Other Production Costs (exclusive of depreciation and amortization shown separately; as a percent of sales)
Fiscal 2019
Ingredients and packaging 29.3
Workforce-related costs 15.2
Other 7.8
Total 52.3 Link here
Go to page 34
All your examples are true.
All points to the fact that the doubling of the national minimum wage to $15 will not result in the doubling of any product or service cost, unless 100% or the product or service cost is labor (it’s simple math really)
And some here advocate for the scrapping of any minimum wage. With 22 million estimated permanently unemployed due to the coronavirus lockdowns, there is a pool of highly vulnerable people willing to work for sub-minimum wage once all UI benefits are exhausted. So let’s set the wage floor to $0. You better prepare for massive government increases in programs to support these people, or a universal income. The same people that advocate for the elimination of the minimum wage no doubt want the elimination of all government benefits. A permanent slave underclass.
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