Posted on 02/24/2020 7:46:45 AM PST by rktman
A proposal from Democratic presidential candidate Tom Steyer to increase the federal minimum wage to $22 per hour would body-slam the economy, according to a former CEO of one of America's major corporations.
Earlier this month, Steyer proposed increasing the federal minimum wage, which is currently $7.25 per hour, to $22 per hour, according to Fox Business. Other major Democratic presidential candidates have lined up behind a $15 minimum wage, according to The Washington Post.
(Excerpt) Read more at wnd.com ...
What a bunch of wusses! $10,000 an hour would be better!
Just robotize most of the jobs and pay a few management staff to run the joint. That’s where this is headed anyway. The commies like Steyer pandering to the unions with this minimum wage garbage only accelerates this disruption.
They can eaisly “pay” it. But that would be a dumb business move, and most locations would fold. They are not charities.
Cheaper to pay a machine nothing, and pay a small team of great workers 20 dollars an hour to keep things humming along.
Of course not...Democrat plans never work.
There’s an analysis making the rounds observing Sanders’ plan for $15/hr minwage works out to workers netting ... $7.25/hr.
It’s just a way to squeeze more tax revenue out of the economy in a palatable presentation.
C’mon, Pal. I’m sure the public won’t mind shelling out twenty bucks for a Big Mac.
If they raised minimum wage even to the $18 to $20 an hour level....it’d just speed up the transition to automation. I could see most McDonalds being automated with just five total humans in each shop...within the next decade. If you wanted to dispense with the marginal employees....accepting the automation would help.
Of course it would - the real minimum wage is $0 (for being out of work), and the overwhelming majority of economic studies confirm that a higher minimum wage increases unemployment.
But (ex)CEOs need to understand that nobody who does't already agree with them is going to listen to a CEO on this subject. If anything, it's free advertising for anti-CEO candidates. Too many CEOs have screwed over American workers with 'cheap' foreign labor.
A 16-18 year old you have to watch like a hawk flipping burgers because they have little work ethic yet isn’t worth $22/hour. That’s crazy.
But the demand for ice cream machine repair persons will still be sky high. :-)
Yep. We’re in a transitional state. The ordering kiosks at many of their restaurants are user friendly and super efficient. The big challenge for automation will be replacing the burger flippers and fry cooks. This would require re-engineering the entire operations, to an even bigger scale and scope than the original Speedee operations revolution by the McDonald’s brothers.
$1 billion/hour! With the increased tax revenues, we could pay off the national debt in a few months. Economy be damned.
He’s wrong of course — it’s workable because the goal isn’t to benefit anyone but the jackass politicians who vote for it. When their stupid plan blows up in everyone else’s faces, they have employers to blame.
The US government can nationalize McDonald’s if this minimum wage thing causes trouble.
$46,000 per year to flip burgers or blow grass off a driveway?
You will hear a giant sucking sound of jobs leaving the US
The point is not increasing minimum wage. The point is a super-majority voting block dependent on government programs because they’re all unemployed.
It’s about getting reelected forever, and not having to answer opposition.
It’s about power.
Yes, this is a bell weather issue. The GOP is stuck in 2008. The current min wage is $7.25/hr which is just as ridiculous as the proposed $22.00/hr. The GOP should counter with $12.50/hour and git this divisive issue off the table.
Progressives just lack any meaningful grasp on what “value” and “money” is. Food/clothing/shelter/care doesn’t just happen, and nobody is entitled to “enough” of it just because they showed up for work.
Force minwage to $15/hr (and thus pushing up other wages for work clearly worth more) and all prices will shift accordingly. Doesn’t matter number of $/hr is imposed by fiat, a gallon of gas will generally cost about 20 minutes of the station clerk’s time & effort.
Are you sure sure you understand the difference between an employees hourly rate and the unit cost of the product they make? I am not sure you get it. A cook at McD's makes more that ONE hamburger per hour.
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