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The Water Cooler
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Minimum Wage - the fallout!
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<blockquote data-quote="tRidiot" data-source="post: 2805640" data-attributes="member: 9374"><p>Simple math.</p><p></p><p>Braum's pays their employees a starting wage of $7.75 an hour.</p><p></p><p>Braum's charges $4.65 for your basic cheeseburger and $3.25 for a gallon of milk.</p><p></p><p>Braum's makes a decent profit off the costs across their entire menu and the business is successful.</p><p></p><p></p><p></p><p>Fast-forward 5 years. Minimum wage is now $15.</p><p></p><p>Braum's pays their employees a starting wage of $15.00 an hour.</p><p></p><p>How much do you think they are going to have to charge for a cheeseburger and a gallon of milk to maintain profitability?</p><p></p><p>How far is that $15.00/hr going to go now that every single product down the line is going to increase enough to cover the increase in labor costs at fast-food places, at grocery stores, at convenience stores, at shopping malls, at restaurants, at daycares and schools, at every single solitary business in the country that has any employees at minimum wage up to 200% of minimum wage?? And your people out there now who make $20 an hour and are making it as middle-classers are all of a sudden going to be making just above minimum wage? Nurses? Paramedics? Teachers? Skilled factory technicians and mechanics? etc.? All these people who are currently highly-trained and skilled and make a normal living wage are just going to be content to continue where they are and lower their standard of living through reduced buying power and value of their dollars?</p><p></p><p></p><p></p><p></p><p>How much is a minimum wage hike going to actually help the people who depend on minimum wage??? You figure it out.</p><p></p><p></p><p><edit> Prices above are simply examples and I have no idea how close they are to real-world at the moment.</p></blockquote><p></p>
[QUOTE="tRidiot, post: 2805640, member: 9374"] Simple math. Braum's pays their employees a starting wage of $7.75 an hour. Braum's charges $4.65 for your basic cheeseburger and $3.25 for a gallon of milk. Braum's makes a decent profit off the costs across their entire menu and the business is successful. Fast-forward 5 years. Minimum wage is now $15. Braum's pays their employees a starting wage of $15.00 an hour. How much do you think they are going to have to charge for a cheeseburger and a gallon of milk to maintain profitability? How far is that $15.00/hr going to go now that every single product down the line is going to increase enough to cover the increase in labor costs at fast-food places, at grocery stores, at convenience stores, at shopping malls, at restaurants, at daycares and schools, at every single solitary business in the country that has any employees at minimum wage up to 200% of minimum wage?? And your people out there now who make $20 an hour and are making it as middle-classers are all of a sudden going to be making just above minimum wage? Nurses? Paramedics? Teachers? Skilled factory technicians and mechanics? etc.? All these people who are currently highly-trained and skilled and make a normal living wage are just going to be content to continue where they are and lower their standard of living through reduced buying power and value of their dollars? How much is a minimum wage hike going to actually help the people who depend on minimum wage??? You figure it out. <edit> Prices above are simply examples and I have no idea how close they are to real-world at the moment. [/QUOTE]
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