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re: California’s $20 fast food minimum wage balloons menu prices
Posted on 4/3/24 at 12:14 pm to LNCHBOX
Posted on 4/3/24 at 12:14 pm to LNCHBOX
I wonder how much the executives, presidents, vice presidents and board members at fast foods franchises make as a total? I would bet it’s in the hundreds of millions of dollars per year.
The problem is not paying the employees a fair wage. These fast food companies can more than handle that without raising the prices of anything. Just the executives would make 15 million a year instead of 20. And if there’s one “problem” with capitalism I think that’s it. The average American worker/employee’s salary vs the executives salaries has grown to a much higher gap than say 50 years ago. I don’t know how to fix that though. Cause you don’t really want any government interference bc they turn everything they touch to shite
And I get the work and risks associated with starting businesses and franchises etc. But the people running these places now are not the people who took these risks getting these businesses off the ground in most big fast food or other big box store chains
The problem is not paying the employees a fair wage. These fast food companies can more than handle that without raising the prices of anything. Just the executives would make 15 million a year instead of 20. And if there’s one “problem” with capitalism I think that’s it. The average American worker/employee’s salary vs the executives salaries has grown to a much higher gap than say 50 years ago. I don’t know how to fix that though. Cause you don’t really want any government interference bc they turn everything they touch to shite
And I get the work and risks associated with starting businesses and franchises etc. But the people running these places now are not the people who took these risks getting these businesses off the ground in most big fast food or other big box store chains
9
Posted on 4/3/24 at 12:17 pm to Finkle is Einhorn
quote:
These fast food companies can more than handle that without raising the prices of anything. Just the executives would make 15 million a year instead of 20. And if there’s one “problem” with capitalism I think that’s it.
Posted on 4/3/24 at 12:18 pm to Finkle is Einhorn
quote:
But the people running these places now are not the people who took these risks getting these businesses off the ground in most big fast food or other big box store chains
Bad executives can bankrupt a company. Being high value is valuable. Why stop at cutting their salaries only 25%? Why not 90%? Do they really need more than that anyway?
Posted on 4/3/24 at 12:18 pm to Finkle is Einhorn
quote:
The problem is not paying the employees a fair wage. These fast food companies can more than handle that without raising the prices of anything. Just the executives would make 15 million a year instead of 20. And if there’s one “problem” with capitalism I think that’s it.
Posted on 4/3/24 at 12:24 pm to Finkle is Einhorn
quote:
I wonder how much the executives, presidents, vice presidents and board members at fast foods franchises make as a total? I would bet it’s in the hundreds of millions of dollars per year. The problem is not paying the employees a fair wage. These fast food companies can more than handle that without raising the prices of anything. Just the executives would make 15 million a year instead of 20.
In the original story posted, this increase from $15 to $20 per hour minimum is slated to impact 500,000 people. That means just 1 hour of work under this law would cut profits by $2.5 million. Let’s say the average minimum wage worker works 30 hours a week. That means each week would be $75 million less in profit. At 52 weeks a year that’s $3.9 Billion less in profits.
quote:quote:
The average American worker/employee’s salary vs the executives salaries has grown to a much higher gap than say 50 years ago.
I agree with you, but this a completely separate argument from the minimum wage one.
This post was edited on 4/3/24 at 12:27 pm
Posted on 4/3/24 at 12:31 pm to Finkle is Einhorn
quote:
Just the executives would make 15 million a year instead of 20. And if there’s one “problem” with capitalism I think that’s it.
I don’t think you understand capitalism at all.
Posted on 4/3/24 at 1:48 pm to Finkle is Einhorn
quote:
The problem is not paying the employees a fair wage.
The problem is low-IQ dolts like you that have no idea what a fair wage is and want more money for being lazy and low value.
quote:
And I get the work and risks associated with starting businesses and franchises etc. But the people running these places now are not the people who took these risks getting these businesses off the ground in most big fast food or other big box store chains
They are still the ones making billion dollar decisions. Let me know when the burger flipper has to answer to shate holders, if they don't get replaced by a robot that is smarter and more reliable first.
This post was edited on 4/3/24 at 1:53 pm
Posted on 4/3/24 at 2:00 pm to Finkle is Einhorn
quote:
Finkle is Einhorn
Jesus Christ you are an idiot.
Posted on 4/3/24 at 4:35 pm to Finkle is Einhorn
quote:
The problem is not paying the employees a fair wage. These fast food companies can more than handle that without raising the prices of anything. Just the executives would make 15 million a year instead of 20.
Just in California McDonalds has 77000 restaurant personnel. If you figure every employee got a $5 an hour raise and works a 40 hour week that comes out to an extra 784 million (almost a billion) in expense to the company. You think cutting some executives salary by 5 million a year fixes this issue?
Posted on 4/5/24 at 6:27 am to Finkle is Einhorn
quote:
The problem is not paying the employees a fair wage. These fast food companies can more than handle that without raising the prices of anything.
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