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View Diary: Raising McD's wages to $15 only adds $0.68 to Big Mac cost (97 comments)

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  •  That would represent an almost 20% price increase (2+ / 0-)
    Recommended by:
    DVeight, erush1345

    and if it happened in many companies, there would be inflation.. and the higher wage would not go as far as you think it would

    •  i would also think (1+ / 0-)
      Recommended by:
      FG

      that if the industry raised prices by 17% that you'd see some decline in the # of customers, which would reduce profits for the company as well.

    •  I don't think you understand how inflation works. (3+ / 0-)
      Recommended by:
      corvo, IamGumby, Tonedevil

      Paying workers in (all service jobs) a bare min of 15 dollars would not have an adverse effect on inflation. In fact  paying workers more $ - those who typically right now have a great deal of financial insecurity, and can not afford such luxuries as eating out - would have a positive net outcome for the economy by allowing them to have much more disposable income to spend.

      The min wage/tipped jobs ect have not kept pace with the cost of living for the last 40 years. This has become a drag on the economy because consumers can no longer afford all the products the "job creators" are producing.

      What proof do I have for my argument you might ask?

      Two words.

      Model T.

      Or

      Henry Ford.

      “The further a society drifts from the truth, the more it will hate those that speak it.” George Orwell

      by Tool on Tue Jul 30, 2013 at 07:10:23 AM PDT

      [ Parent ]

      •  People having more money is what usually (0+ / 0-)

        produces inflation. Right now it's not a big problem b/c people lost so much money in the last few years. But in general salary increases produce inflation.

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