US fast-food workers staging nationwide strike

[Cricket2]

I think it should be noted that no one wants to see people struggling in any way.

Those advocating for a higher minimum wage are doing it because they want to make sure they are getting an adequate income to live off of.

Those who are advocating the opposite (either lower minimum wage or no minimum wage at all) are doing that because there is a recognition of economic prudence and this is a way that won’t even delay the inevitable.

No one here wants to see people in woe. I think everyone here agrees that people deserve an opportunity and a chance to better their lives. The only disagreement is how it can be achieved.

Let us not make assumptions or attacks on anyone who disagrees.

Frankly I think there is little “economic prudence” in paying people so little that they can’t buy anything, and can only pay their rent, utilities and very little food. They can afford little else if anything else, so their return to the economics of the nation is minimized greatly.

 

[TheWarriorMonk]

Let’s back up.

Can you cite an example of a developed country that doubled its minimum wage (and increased everyone else’s wages proportionately) that had no upheaval of the poor?

Or is this just speculation?

I already see what is happening with the implementation of ObamaCare and workers. It’s not a minimum wage increase, but it is a cost per employee increase. Many companies can’t absorb it, so are adapting accordingly. And we’re in the early stages; the real fun begins with the employer mandate.

Can you cite some numbers regarding the Income statements of McDonalds franchisees, otherwise we cannot intelligently predict anything about what an increase in the minimum wage would do relative to the minimum acceptable level of profitability.

BTW, why McDonalds. Not all fast food places are megacorporations, yet you are treating the single-store fast food place the same as the megacorporations. The problem with the minimum wage increase is it affects ALL. And if it puts the small fast-food place out of business, you end up with a higher-proportion of megacorpations with monopolistic tendencies and ability to affect regulation in their favor. Compare with the current situation with regulation and banks.

 

[Farsight001]

Frankly I think there is little “economic prudence” in paying people so little that they can’t buy anything, and can only pay their rent, utilities and very little food. They can afford little else if anything else, so their return to the economics of the nation is minimized greatly.

Yes, we get it. you don’t like low pay. No one does. Now if you will please provide a reason-based counter argument to the economics presented to you to explain why simply raising pay won’t work, that would really help.

 

[stinkcat_14]

Let’s back up.

Can you cite an example of a developed country that doubled its minimum wage (and increased everyone else’s wages proportionately) that had no upheaval of the poor?

I am not defending increasing the minimum wage, I am just asking for you to prove your assertions.

Or is this just speculation?

Like I said, you made a claim, an empirical one at that, if you have evidence, then you can back up your claim.

I already see what is happening with the implementation of ObamaCare and workers. It’s not a minimum wage increase, but it is a cost per employee increase. Many companies can’t absorb it, so are adapting accordingly. And we’re in the early stages; the real fun begins with the employer mandate.

It will be interesting to see from the data what effect it actually has.

BTW, why McDonalds. Not all fast food places are megacorporations, yet you are treating the single-store fast food place the same as the megacorporations.

I am just asking you to back up your claim, for the record I am not in favor of increasing the minimum wage. On the other hand, few people actually work for the minimum wage, so really when we discuss it, there is little of substance that is really addressed.

The problem with the minimum wage increase is it affects ALL. And if it puts the small fast-food place out of business, you end up with a higher-proportion of megacorpations with monopolistic tendencies and ability to affect regulation in their favor. Compare with the current situation with regulation and banks.

You have an interesting hypothesis, however since only about 2% of the workforce earns the minimum wage I am not sure raising it would really contribute to more monopolization.

 

[TheWarriorMonk]

Yes, we get it. you don’t like low pay. No one does. Now if you will please provide a reason-based counter argument to the economics presented to you to explain why simply raising pay won’t work, that would really help.

Personally, I would like to see that discussion framed in the context of the big picture.

Real-World Example: One person I do work for came from India. Usual story…dirt poor, came here, became a doctor, saved money, invested in real estate (income-producing: apartments and commercial property), and is a multi-millionaire many times over. So we have foreigners coming here, seeing opportunity, and taking advantage of it in a very big way. The we have people that are obviously able to work, yet don’t see this opportunity in front of them and don’t take advantage of it. Am I missing something?

Even when I worked in fast food (for years) I saw opportunity. I could’ve became a manager, and likely became a regional manager within a few years because of my college degree. But I chose to move on. In fast food, the opportunity is there for a living wage and a career. It takes a conscience act of will to refuse to do so, and to demand more money in that context is immoral.

 

[TheWarriorMonk]

Like I said, you made a claim, an empirical one at that, if you have evidence, then you can back up your claim.

It’s all firsthand information. I don’t assemble it like a study. I have to be aware of this information, as it is essential to my career.

You have an interesting hypothesis, however since only about 2% of the workforce earns the minimum wage I am not sure raising it would really contribute to more monopolization.

Technically, it’s not minimum wage, it’s cost per employee that matters. Minimum wage must be framed in that context. One of my friends posted something interesting information elsewhere in this regard (historic cost per employee and where we are now); I’ll see if I can find it…back to work.