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 ...
Aldi and Trader Joe’s both help you with your budget.
They were separately built by competing brothers.
I know a LOT of people who only go to BK ONLY and IF they have the coupons. The last time i was there was a month ago and the clerk collected a lot of coupons and they were piled in a bag behind the counter.
I tend to disagree. If a 15 dollar minimum was imposed all the fast food would become more automated with smart machines. The would still sell the same crap and at reasonable price. The computer driven machinery would take the place of most workers. Unemployment would increase greatly.
I worked for minimum wage as a youth. I went to college and acquired skills that the market place paid many times the minimum wage. Minimum wage is simply the chance to become part of the market place. If you are ambitious and become skilled the market will pay you well.
My first degree in Geology rewarded me well. I acquired that degree by working in jobs that paid minimum wage. In 1982 my income was equal and superior to doctors. The oilfield said, “go find oil” and we did, unfortunately we found to damn much. In 1983 I no longer had any marketable skills. We found to damn much oil and prices collapsed.
I sold my house and airplane and went back to school again at 35 years of age and became a pharmacist.
Our great nation will allow you to become anything you desire if you are willing to work for it. I achieved these goals starting at minimum wage. A minimum wage that is above market demand for labor insures greater unemployment.
Where I live, lots of fast food restaurants have signs that say they are hiring and list the pay at $12.00-$15.00 an hour.
You know, back in the '60s and '70s I used to hear about some old folks buying cans of dog food for themselves, I kind of laughed, but I didn't believe it.
But I guess it was true.
They would cost zero as I wouldn’t shop there
So with the reduced number of employees, my order will take longer. But on the bright side, it will also be more expensive. Yay.
As most elected dims have not been involved in the private sector this is lost upon them.
Plus the elected dems are famous for their household staff being off the books, not legally in the U.S.; no FICA or other taxes, etc. They're so worried in public about minimum wage however when they need a nanny, housekeeper or a cook then suddenly it's just fine to pay $2 or $3 per hour under the table with no benefits.
The dimwits have to pay off their polisci student loans somehow/s
“The meat is still real...but it is not necessarily beef.”
Don’t dine out in Canadian diners beyond the American border where our standards apparently influence theirs.
Seriously, we bought a hamburger way up north with yellow meat that tasted nothing like beef, or chicken, or turkey. Coulda been dog, road kill, something from the mortuary, horse - we do not know what. One bite and it was in the trash. We’ve had more than one experience like that.
Quick. McDonald’s is featuring TWO, AH SAY TWO, SON “fillet of fish sandwiches” for $2.50, not $5.00. Better stock up now before the prices jump higher than a flying fish.
You want tartar sauce with that, senior?
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Would not directly impact me, as I haven't been in one in years.
All of the big franchise operations have lab work going on with automation as a big part of the future. Within a decade, I think you will start to see McDonalds where there are only three or four employees per shift, and most everything done by automation. Other than the manager, some clean-up kid, a guy to reload the hardware, and a repair technician....that’ll likely be the new future of McDonalds. A whole generation of $15-an-hour wage earners will simply just walk out the door.
The lesser companies....will be ten to twenty years behind McDonalds but they will all eventually go to the model. I think the same pattern will occur with the pharmacy/drug store operations....with pharmacist coming in for four hours a day to load the machines, and maybe just one clerk to sit and answer questions.
Dang! I was joking, but to hear that it may actually be like that-—Dang! Thanks for the warning. Scary.
We don’t have Shopright or Aldi.
Wally World, Sam’s Club, City Market, Albertson’s, and Safeway.
And with the merger of the last two, there will be even less competition.
At least in Boise they have Winco.
Not much available on the dollar menu.
Nobody should eat at McDonald’s after they shut down their stores on “Day without an Illegal”. Assuming that it was true and not internet chatter.
My wife did some volunteer work in Seattle today. I went to a McDonalds to get a couple $1 large soft drinks for the two of us along with a couple sandwiches off the value menu for around $1 a piece. At McDonalds in Seattle large soft drinks don’t cost $1 like they do everywhere else in the surrounding area... they cost more than $2. The cheapest items on the value menu in a Seattle McDonalds are $2 not $1. Prices have not gone up a little; they have more than doubled.
The minimum wage in Seattle is now $13.50 an hour. I noticed that the Arbys we used to go to was boarded up as was the Taco Bell and the Taco Time. So not only was the food at McDonalds twice as expensive, over half the fast food restaurants that we once ate at had already gone out of business along with the jobs that they used to provide.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.