However, a report released today by James Sherk, senior policy analyst in labor economics at The Heritage Foundation, found that fast-food restaurants would have to boost their prices 38 percent to make up for the increased labor costs.
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Sunday, September 07, 2014
Here’s How the Price of Your Favorite Fast Food Would Change With a $15 Minimum Wage
However, a report released today by James Sherk, senior policy analyst in labor economics at The Heritage Foundation, found that fast-food restaurants would have to boost their prices 38 percent to make up for the increased labor costs.
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19 comments:
So, if this will take ALL these workers off welfare, food stamps, and the other programs, how much SHOULD my taxes go down? It should be enough to offset the cost of me going to a fast food place as often?
But, everybody knows that taxes will never go down, even if justified. So, bottom line, no raises, kids!
Why would I pay $6.50? let alone $8.94 for a turkey sub. That's stupid as u know what.
Some dumba$$ no education minimum wage people think what they do deserves more money? W.T.F.?
Get an education and earn a honest living instead of thinking everyone else owes your stupid a$$ a living!
7:00 The problem is the raise won't get them off welfare. If min wage workers wage doubles do you think the person now making 15-20/hr now will be satisfied with that. No their wage will go up along with the price of everything not just fast food. Of course the workers in China won't be making any more so even more jobs will go overseas. Pretty soon you will order your own food at restaurants. Ever order food at Wawa. Soon all places will be like that. You think it's bad standing in line trying to order something at McD's now wait until you have to stand in line behind some little old lady trying to order coffee at a self serve kiosk.
7:00 - it will only take them off these programs for a short while...the cost of everything else will go up and they'll be back in the same place they are now.
The only ones that MAY succeed will be those that are able to get better jobs through bettering themselves during the interim.
Fast food places used to be an entry level job while completing high school or part time work for college kids. These weren't jobs meant to work and support a family, mortgage etc. Most are people with no skills and work there because they wasted their lives, didn't take education serious and have no real ambition. Why should we pay these losers wages that most people who have a college education aren't making these days. One day that welfare well will dry up and those wanting to work will have no work history or skills.
Fast food prices have ALREADY gotten to high. I rarely go to any of them now and when I do I order off the dollar menu. All of that food is crap. It's unhealthy but it's quick and you don't have to cook, which hardly anyone does anymore.
If they can get more money, more power to them. That's the magic of supply and demand, whatever the market will bear.
If you don't want to pay those prices, don't go there. If enough stay away, what do you think will happen? If they don't go out of business outright, their prices will come back down.
Meanwhile, go shopping. Find that frying pan. Have a home cooked family meal once a week. That's a win-win for everyone concerned.
Not taking any sides on the situation but minimum wage was established with the intention to provide a substantial living wage. Back when American citizens had the most purchasing power per dollar amount minimum wage was ten dollars per hour.
OMG really these billion dollar fat burger chains will lose a couple of bucks. Big deal check out what the C.E.O. makes a year at Mickey D's. They spend 60million a year just to advertise you idiots. WTF
Mmmm , must be getting close to fall , less grass to cut.
I have a good education , Md university , many schools that interested me. Worked since I was 14 , now I'm 71 , still working and making $10.12 per hr..
I just can't see $15.00 an hour for unskilled labor.
If you really believe that the fast food chains will lose money then you are the idiot. They WILL raise prices to offset the wage difference. That will cause a decrease in patrons at the restaraunts which will cost jobs because some establishments will close. Also, owners will reduce workforce to help offset the monetary loss. Perhaps you should look into a course on basic economics to understand business a bit better.
11:50 Yeah, they should totally start losing money. That's what the government does, so business' should follow their lead.
You people are idiots, retards even.
The only reason Dems want to raise the wages is that it is more money to tax. Period. And you can keep you present policy. Period.
1:09
I think you are right. Sure people will make more money and yes they will also pay more in taxes. They will be no better off than they are now. Everything will go up. The people that are saying the CEOs are making to much money fail to realize that they will not take a cut in their pay. They will raise prices of their products and we will be in the same boat as we are now. The only one benefiting from this is those that collect the taxes.
Went to Hardees, ordered 3 value meals and 1 extra burger. Got charged for 4 value meals. Yeah they should make more than me, right!
7:00 an 7:57 The truth is that the government wants to tax them more. They make up a large portion of the tax base and they don't make enough to pay. The government is now going to throw the burden of paying more on the businesses and that then is passed to the customer. They WILL NOT lower your taxes, just take the extra money to fund their stupid pet projects and their own pockets. They make these minimum wage workers think that they are going to do better when in fact they are just going to lose benefits and pay more taxes. They are trying to screw everyone! what WILL happen is the minimum wage workers will quit when they realize it is easier not to work and we will pay for them as well as a high price for the burger. Thanks Democrats !!!
it wont...
The problem really is the value of the DOLLAR.
The US DOLLAR is becoming de-valued by the Federal Reserve Bank. They create a Trillion Dollars per year out of thin air. They also create more money which is invisible - by fake exchanges with other Central Banks (which the same secretive group owns).
The DOLLAR is the problem.
The FED is the creator of that problem.
At $15/hr. these bozo's will be replaced by more competent/educated workers!
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