Once viewed as a quick, affordable meal, fast food is increasingly seen as a luxury by many Americans due to rising menu prices, according to a new LendingTree survey. The financial advice website …
The wages of fast food workers have been increasing over the past decade. Ten years ago, their median wage was $8.69/hr. Today, it’s over $14/hr. In California, the minimum is now $20/hr.
Increased wages for low income workers are good, since they have outpaced inflation. But they will inevitably result in increased prices. It’s unrealistic to expect the employer to absorb all of the increased costs.
And fast food employers often couldn’t absorb the wage increases even if they wanted to. Remember, a McDonald’s employee isn’t paid by McDonald’s HQ, they are paid by the person who runs the individual location, who is also paying McDonald’s HQ for ingredients. Some of the franchise owners are doing well, some of them aren’t, but all of them are going to raise prices.
In other words, if you don’t want to pay more for fast food, then you don’t actually want to see fast food workers earn a better wage.
I’m happy to say that I emphatically want better wages for service industry workers. IDC how much food goes up, or how many mega franchises have to close for it. Either better wages, or cause these these super franchises to close so mom and pops and open instead.
I also don’t think it’s unrealistic to expect businesses to give up a small portion of their infinite growth targets to actually cover their employees needs. Maybe a large departure from the past 50 years, but it’s absolutely something most of them can afford.
If a business genuinely can’t afford it, then I’d also be okay with my tax money going towards a business analysis for that owner to find a way to make it work. If they still can’t, then how long were they really going to be open anyway and what were they really adding to their community?
unrealistic to expect businesses to give up a small portion of their infinite growth targets
Almost no restaurants, including fast food restaurants, have infinite growth targets. A lot of them are struggling to survive.
From a business perspective, most fast food franchises are mom-and-pop locations. They are not owned by a giant corporation. The giant corporation simply sells them ingredients and sets their menu.
Median fast food wage in US is now $14/hr. A Big Mac in Denmark is now 49 krone, which is $7.10
Of course, it’s still true that unions provide better pay and benefits to employees. But the price of a Big Mac is roughly a third of the hourly wage in both the US and Denmark.
In other words, if you don’t want to pay more for fast food, then you don’t actually want to see fast food workers earn a better wage.
If a business relies on exploitation, it shouldn’t exist. If paying the workers a living wage means raising the prices beyond a sustainable level for the business, this business shouldn’t exist. If a business pays out millions in bonuses to it’s executives while the workers are relying on government subsidies, the business shouldn’t exist.
The wages of fast food workers have been increasing over the past decade. Ten years ago, their median wage was $8.69/hr. Today, it’s over $14/hr. In California, the minimum is now $20/hr.
Increased wages for low income workers are good, since they have outpaced inflation. But they will inevitably result in increased prices. It’s unrealistic to expect the employer to absorb all of the increased costs.
And fast food employers often couldn’t absorb the wage increases even if they wanted to. Remember, a McDonald’s employee isn’t paid by McDonald’s HQ, they are paid by the person who runs the individual location, who is also paying McDonald’s HQ for ingredients. Some of the franchise owners are doing well, some of them aren’t, but all of them are going to raise prices.
In other words, if you don’t want to pay more for fast food, then you don’t actually want to see fast food workers earn a better wage.
I’m happy to say that I emphatically want better wages for service industry workers. IDC how much food goes up, or how many mega franchises have to close for it. Either better wages, or cause these these super franchises to close so mom and pops and open instead.
I also don’t think it’s unrealistic to expect businesses to give up a small portion of their infinite growth targets to actually cover their employees needs. Maybe a large departure from the past 50 years, but it’s absolutely something most of them can afford.
If a business genuinely can’t afford it, then I’d also be okay with my tax money going towards a business analysis for that owner to find a way to make it work. If they still can’t, then how long were they really going to be open anyway and what were they really adding to their community?
Almost no restaurants, including fast food restaurants, have infinite growth targets. A lot of them are struggling to survive.
From a business perspective, most fast food franchises are mom-and-pop locations. They are not owned by a giant corporation. The giant corporation simply sells them ingredients and sets their menu.
https://dn.truthorfiction.com/wp-content/uploads/2021/11/23134833/0955DC71-829C-4CED-8AFB-68B5C913B2F3.jpeg
That’s out of date.
Median fast food wage in US is now $14/hr. A Big Mac in Denmark is now 49 krone, which is $7.10
Of course, it’s still true that unions provide better pay and benefits to employees. But the price of a Big Mac is roughly a third of the hourly wage in both the US and Denmark.
If a business relies on exploitation, it shouldn’t exist. If paying the workers a living wage means raising the prices beyond a sustainable level for the business, this business shouldn’t exist. If a business pays out millions in bonuses to it’s executives while the workers are relying on government subsidies, the business shouldn’t exist.
That’s true. But restaurant owners aren’t paying millions to anyone.
And hiking prices to pay fast food employees more isn’t unsustainable. It just means customers won’t eat fast food as often as they used to.