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.
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.
Or, you know, make as much profit by the executives taking a pay cut.
That’s precisely how it should work.
Businesses need to charge for their products and services, what paying their employees a living wage affords.
Should their products become too expensive, less people will purchase them, and then they’ll need to decide whether or not to cut executive bonus pay, and shareholder dividends, cut back on their offerings, reduce the sizing, lower the quality or go out of business.
This is business, there are a myriad of things businesses do to get and stay profitable, though the corporations profits should not come at the expense of their labor forces ability to earn a living wage.
This is business, there are a myriad of things businesses do to get and stay profitable, though the corporations profits should not come at the expense of their labor forces ability to earn a living wage.
Hiking prices in response to increasing wages to a reasonable level is coming at the expense of their labor forces ability to earn a living wage.
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?
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.
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.
Ok I’m fine with no fast food. Win-win. Have a good day.
So can I, but that’s not what you were advocating.
Without regulations, you won’t get “if you can’t ethically provide fast food then there will be no fast food”, you’ll just get another fast food company that’s even more unethical.
I’m not advocating anything.
Sure, pick another word to describe what you were doing and I’ll update my comment.
All I’m talking about is food prices and wages. If they raise their prices and their target audience stops going—then they will lower prices or go out of business.
They are more than capable of keeping prices the same and paying more… they just get less profit.
The company who says “we will pay more wages and keep our prices the same” will eventually be the “cheaper burger” and profit more by taking all of the business.
This is the end of my participation. Good day.
“Facetiousness.”
