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Post by conchydong on Apr 3, 2024 16:32:00 GMT -5
Except for management, most people that work in the fast food industry are young kids that are generally living at home. If adults that need to make a mortgage payment and raise children are in the industry then they have other significant problems. You have not been at a fast food place in this town. A lot of employees are older men and middle aged women. Been that way for several years. They are in that industry, like other retail industries, is because we converted from a manufacturing economy to a service economy starting in the 80s. I still stand by my statement. If they don’t have marketable skills by the time they are at that age then they have a problem. You don’t have to be college educated to have a work ethic and rise to the top if you work hard.
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Post by whitebacon on Apr 3, 2024 18:09:43 GMT -5
Women cost money. The girls I bang charge $300 a day. They are perfect 10's and they swallow with a smile, so to me it's money well spent. A while back you claimed they weren't prostitutes you paid, but that you bought them clothes and gifts. Made it seem like a voluntary gift. Now you post their rate is $300 a day. That's a fucking hooker. Correct. They aren't prostitutes per se, not in the traditional sense. Its been a ten year learning experience for all of us. The buying clothes and stuff was annoying to me. So we came up with a flat rate. The $300 is BZ, so it equates to $150 american. My long-term go to lives in the city, which is a royal pain. I've to go WU cash in advance. Mind you I live on a rock and the WU office is sketchy as to whether they're open or not. But the ATM is 24/7, and the local chicks basically hang out on my porch. Best part is they stopped stealing. Just business.
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Post by johngalt on Apr 3, 2024 21:01:30 GMT -5
Buzz words of the neo-Marxists. With unregulated capitalism, you get Trump University. What is “Unregulated Capitalism”?
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Post by johngalt on Apr 3, 2024 21:07:26 GMT -5
Still no answer to my question. Can anybody live on $20.00/hr? Especially in a major city. I'd like to add that the price increases at Burger King or McDonalds can be called into question. When four burger patties cost around $2.00 how do you justify a $2.00 per burger increase when the burger on a bun with condiments and paper cost no more than $2.50 each. How about the soda that costs about .20 including cup and straw. Or fries that cost about .30 per portion if that. So a crew of 10 people cost the franchisee $20.00/hr more to sell a few hundred burgers, cokes, fries, and assorted other stuff that's priced at a 1000% markup. That's why a lot of these franchisees own hundreds of units. Move on to restaurants and when a chicken breast costs the restaurant $1.50 lb. how can they justify charging $25.00 for a 6 oz. portion and then complain about paying the dishwasher or server a few more bucks an hour? The problem isn’t a $20 an hour wage. It’s the fact that our money today is worthless. It’s the debt and uncontrolled government spending and interference in the free market by unrealistic regulations. How about making the minimum wage $30 or $50? Why stop there how about $100 an hour? And what exactly is a “livable wage”? Livable by whose standards?
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Post by johngalt on Apr 3, 2024 21:16:17 GMT -5
Still no answer to my question. Can anybody live on $20.00/hr? Especially in a major city. I'd like to add that the price increases at Burger King or McDonalds can be called into question. When four burger patties cost around $2.00 how do you justify a $2.00 per burger increase when the burger on a bun with condiments and paper cost no more than $2.50 each. How about the soda that costs about .20 including cup and straw. Or fries that cost about .30 per portion if that. So a crew of 10 people cost the franchisee $20.00/hr more to sell a few hundred burgers, cokes, fries, and assorted other stuff that's priced at a 1000% markup. That's why a lot of these franchisees own hundreds of units. Move on to restaurants and when a chicken breast costs the restaurant $1.50 lb. how can they justify charging $25.00 for a 6 oz. portion and then complain about paying the dishwasher or server a few more bucks an hour? People who make it better be able to. That’s what living within your means is about. Stop eating McDonald’s if its too expensive. You’ll eat better and healthier going to the grocery store and buying fresh. A $6 pack of ground chuck will make many more burgers than the price of one Big Mac combo. If enough people stop buying overpriced fast food, the price will come down. If however, you just give the buyer more money to meet the inflated prices, then McDonald’s has every motivation to just raise their prices again. And the cycle will continue into perpetuity. If $42k per person is the new poverty line, then the middle class dream is dead, killed by economic practices that encourage inflation. What people like he and others fail to point out or to ignorant to understand is the costs of doing business. He fails to point out the other costs like rent/leases, costs of labor, taxes, regulatory fees, utilities etc. I’m not in the restaurant business but my understanding is that a 3 percent profit margin is pretty good.
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Post by johngalt on Apr 3, 2024 21:17:38 GMT -5
Bottom line is that are going to be a lot of people getting a wage increase just before they get an unemployment notice. 😉
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Post by illinoisfisherman on Apr 3, 2024 22:33:25 GMT -5
Funny story about paying women.
I was about 19 years old and worked in a factory with my uncle at the only job I ever had as an “adult”.
I had a crush on a very attractive local young woman. I wanted to take her out to a great restaurant for dinner. An older gentleman that worked there told me about a real fine restaurant so I took her there.
The following Monday Frank, the older guy, was all smiles. He asked me about the date. I told him it was great. He asked me what it cost. I told him about $100. (Mind you this was 1968 and I was being paid about $3.25 an hour). Frank laughed. He asked me if “I got lucky”. Well actually no. He laughed harder. He took out his wallet and handed me a card. He said call this lady. She will take good “care” of you for $30 and then you can go out with your buddies for the rest of the night. I kept the card and never went to the restaurant again. 😛
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Post by PolarsStepdad on Apr 3, 2024 22:45:14 GMT -5
🤣🤣🤣
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Post by cadman on Apr 4, 2024 5:10:52 GMT -5
People who make it better be able to. That’s what living within your means is about. Stop eating McDonald’s if its too expensive. You’ll eat better and healthier going to the grocery store and buying fresh. A $6 pack of ground chuck will make many more burgers than the price of one Big Mac combo. If enough people stop buying overpriced fast food, the price will come down. If however, you just give the buyer more money to meet the inflated prices, then McDonald’s has every motivation to just raise their prices again. And the cycle will continue into perpetuity. If $42k per person is the new poverty line, then the middle class dream is dead, killed by economic practices that encourage inflation. What people like he and others fail to point out or to ignorant to understand is the costs of doing business. He fails to point out the other costs like rent/leases, costs of labor, taxes, regulatory fees, utilities etc. I’m not in the restaurant business but my understanding is that a 3 percent profit margin is pretty good. 3% is the low end and 5% is pretty good. Gross margin better be 70% or the place is in trouble. 25% of sales is usually the average labor cost. Assume 50% of the employees were below $20 and 50% of those were at the old $16 an hour and all other employees get 5%. You are looking at an increase in labor costs of about 10% to 15%. Another way of looking at it would be your labor cost went from 25% of sales to around 28% of sales and you lost 3% on the bottom line if you don't raise prices. So you raise prices 15% to cover the new labor costs. It would be interesting to see the CPI change following this wage increase. For 2023, the CPI was 3.9% for California.
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Post by cyclist on Apr 4, 2024 8:58:25 GMT -5
Finland enters the chat Australia has entered the chat Lol... all authoritarian countries, not surprised you admire them This is an outright lie, or you just don't understand what a democracy is.
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Post by gandy on Apr 4, 2024 9:41:59 GMT -5
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Post by cyclist on Apr 4, 2024 9:44:40 GMT -5
Yep. We elect the decision makers instead of voting directly. But amendments and such are decided by the peoples vote. Right???
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Post by OhMy on Apr 4, 2024 10:05:56 GMT -5
You know what happens when you raise the minimum wage?
Corporations raise their prices to continue the profit margins they had before.
You and I pay for the minimum wage increases not the business.
BTW. Same holds true when you tax the businesses. It is a great political talking point to go after the rich and those corporations, but in reality, if you raise their taxes, they will raise their prices and the middle and lower classes will pick up the difference.
Going after corporations is just a great way to make the ignorant vote for you.
Sort of like the lottery. It is a tax on the poor.
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Post by cyclist on Apr 4, 2024 10:11:47 GMT -5
You know what happens when you raise the minimum wage? Corporations raise their prices to continue the profit margins they had before. You and I pay for the minimum wage increases not the business. BTW. Same holds true when you tax the businesses. It is a great political talking point to go after the rich and those corporations, but in reality, if you raise their taxes, they will raise their prices and the middle and lower classes will pick up the difference. Going after corporations is just a great way to make the ignorant vote for you. Sort of like the lottery. It is a tax on the poor. Prices do go up but by a smaller % than the raise and the economy improves so the outcome is a little good and bad.
The Pass-Through of Minimum Wages into US Retail Prices: Evidence from Supermarket Scanner Data
The Pass-Through of Minimum Wages into US Retail Prices: Evidence from Supermarket Scanner Data (with Tobias Renkin and Michael Siegenthaler), September 2020, forthcoming, Review of Economics and Statistics. Abstract
This paper estimates the pass-through of minimum wage increases into the prices of US grocery and drug stores. We use high-frequency scanner data and leverage a large number of state-level increases in minimum wages between 2001 and 2012. We find that a 10% minimum wage hike translates into a 0.36% increase in the prices of grocery products. This magnitude is consistent with a full pass-through of cost increases into consumer prices. We show that price adjustments occur mostly in the three months following the passage of minimum wage legislation rather than after implementation, suggesting that pricing of groceries is forward-looking. The rise in prices occurs mostly through an increase in the frequency of price increases. Prices rise to the same extent for goods consumed by low-income and high-income households. Our results suggest that consumers rather than firms bear the cost of minimum wage increases in the retail sector.
Increasing the minimum wage has repeatedly been shown to raise the pay of low-wage workers and improve the overall economy. While the federal minimum wage remains at its 2009 level of $7.25 per hour, 30 states and dozens of cities, as well as Washington, DC, have instituted much higher wage floors.
Our new working paper, “Minimum Wage Effects and Monopsony Explanations,” examines the effects of the boldest such policies: the near-doubling of minimum wages—to $15 per hour—in California and New York between 2013 and 2022. We find that these large minimum wage increases both raised pay for workers at the bottom of the earnings ladder and increased employment.
We focus on the lowest-wage workers—those employed in the fast-food industry and teen workers—who are often considered the most vulnerable to losing their jobs when minimum wages rise. Nonetheless, we find positive earnings and positive employment effects for both groups of workers in both states.
Our study uses data from the U.S. Bureau of Labor Statistics and the U.S. Census Bureau to study 47 large and mid-sized counties from these two states. Average wages in these counties span the distribution of average wages in counties across the United States. Our findings therefore contain lessons that are likely to apply to the entire country.
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Post by johngalt on Apr 4, 2024 11:35:08 GMT -5
So let’s raise it to $100 an hour. According to Berkeley we will be in utopia. Obviously a bunch of faculty lounge lizards know more about private businesses than the actual people who own those businesses.
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