This is what being addicted to ever-growing profit looks like. They could still make mountains of profit with the new minimum wage, but they can’t make as much profit as they did before.
Large Fast Food Chains: We made record profits, again!
Also Large Fast Food Chains: Wait! If we are required to actually pay our staff, how will I, Mr. CEO the Douchebag, afford my 16th yacht? How will I be able to send my children to the finest schools in the world? How will I be able to afford to eat if my workers aren’t suffering? Won’t anyone think of the 1% and our problems?
Let them price themselves out of business then. Someone will come along and make an affordable burger.
“The free market will fix it” seldom works, which is why it’s still pushed as a solution.
Could this hypothetical someone make a more affordable burger ethically, or would they also have to fuck over their employees and suppliers?
Usually, the answer is “no”. Businesses either use all the same sleazy, “race to the bottom” techniques or they go out of business because they offered a more expensive product to people without the luxury of being able to spend more.
But of course if you start paying people more, the billionaires will just fuck them out of that too. They want every dollar you have and they know people will spend every dollar they have to avoid being homeless or hungry.
This is a misleading title.
They hike the menu price to make more money using the minimum wage as an excuse.
Told you Libruls! The Big Mac was still $0.99 before this law was signed because companies NEVER raise prices unless they have to raise wages!
Meanwhile, In n Out serves a better burger, for less money, paying their workers $19+/hr.
Ok. Hike the prices and see how sales go.
I doubt sales will change much. Most people who eat at McDonald’s do so because they’re addicted to it. Rising prices won’t stop them.
