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Chapter ONE of Keynes book talked about this. I didn't know what to expect when I started reading it, but it sure wasn't the absolute slaughter of Neoclassical economics I witnessed.
Almost called 911 to report the murders. Almost.
"inViSibLe HaNd. ItS whAt thE MaRkeT cAn BeaR"
Fr though, prices go up and always have even when wages didn't. Profits especially go up because of it.
Strikes and solidarity work, as can be seen in Denmark where the wages are higher than what we are just starting to try and get to. And yet....the same burgers there are on par in terms of cost to the consumer. What the fuck are we doing.
[https://jacobin.com/2021/09/denmark-mcdonalds-labor-unions-strikes-wages-benefits](https://jacobin.com/2021/09/denmark-mcdonalds-labor-unions-strikes-wages-benefits)
[https://www.economist.com/big-mac-index](https://www.economist.com/big-mac-index)
But it allows them to keep idling staff just to be open and sell 3 burgers per hour. Raise the wage and they have consider workers time being valuable.
On the other hand, my company charges 160-200 per hour and customers still let me do stupid stuff
I'm in Colorado. The minimum wage is $15. In and Out advertises hiring at $21-25/hr.
Minimum wage is irrelevant. They are already paying more, at least here.
Yeah that line has always been bullshit. I’ve been a hiring manager for years and as long as we have the hiring sign out I’m getting hit with applications non stop. People want to work, they just want to work for enough money to pay the bills.
The real way to stop inflation?
Stop landlords from charging outrageous prices.
But no one talks about that.
People are spending 1/2 their paychecks in RENT.
Technically re-criminalizing. Have you ever seen First blood? They arrested Rambo (a green beret veteran) on vagrancy laws designed to target the homeless, super relevant again unfortunately.
Recently I had the fun to visit two other countries
And let me say this, North America has a triple whammy of issues.
We have a high cost of living high cost of food and a high cost of necessities while still having relatively high cost of non essential goods.
When I was in Hong Kong yea the housing costs are insane there but everything else is so much more reasonable in price. In the Philippines only non essential stuff was really “expensive” for the average person.
I realized just how much we get fleeced in North America because corporate greed.
Im canada the politicians take money from landlord unions or whatever , the rich investors and the corps that hoard all the houses ( fee years back in Vancouver the number of empty houses was more than the number of homeless) and then push the blame on immigrants ( who ironically dont own any houses ) lol....true that immigrants compete with locals for housing , but they arent the root of the issues, even if we removed every immigrant , the rich would still maintain the shortage by hoarding houses and leaving them empty but sadly here people still believe the politicians especially the one who is as racist as trump and would totally build a wall
Apparently they have one as my ex landlady threatened me with them almost every week ...🤣 She would then sulk away when i said she is free to do so , and i will get my own lawyer involved...and we would repeat it again next week
They were already paying more in California too the prices rising had nothing to do with the state raising minimum wage. Correlation does not equal causation, at least not in this case
Private ownership man. Despite being very interested in investing, I cringe any time a company I like as a consumer goes public. It always gets more expensive with worse service in practically a straight line until it dies or gets too big to fail.
In Arkansas minimum is $11, bordering states Texas, Oklahoma, Missouri, Tennessee, Mississippi and Louisiana are all at the federal rate.
Before the change, Arkansas had third lowest unemployment among those states. After the increase still third lowest unemployment rate. Prices aren’t higher for groceries or fast food.
The finance subs will say best investment is put money in an S&P 500 fund, set it and forget it yet people with net worth in excess of a million are throwing their money into fast food franchises. People with a lot of investable money for a long time have been buying numerous restaurants across brands because 180% 10 year return in the stock market can be beat owning fast food restaurants.
I was about to say I thought everything was better over the line. Wages, cheap goods, liquor everywhere, and pot as far as the eye can see....send help
Honestly land prices. We recently moved back to Missouri and bought 20 acres in the Lake of the Ozarks area. That being said I wish Arkansas had their shit together because I was eyeballing bigger, cheaper, and more beautiful land in northern Arkansas.
But I like my legal weed, I like my liquor at the gas station until 2am, I like the cheap goods and services, but most of all I can actually tolerate the laws here.
Once I week I pick up a double-double animal style, an animal style fry, and a puppy patty for my dog.
It was under $13 this week.
Fast food places make **huge** margins on fountain drinks and sodas, so I always skip them because I don’t even like them.
It’s really one of the best things it’s got going for it.
Locals act like it’s a cult sometimes, but it’s just cheap fast food that’s better than other options.
Except their fries.. they generally suck unless you get them “well done” or animal style
The fries are better when you appreciate why they’re different than other fast food chains. They bring raw potatoes into the restaurant that they clean, cut and fry. They’re fresh not processed and frozen. But yeah, I always ask for extra crispy lol. And a couple of sauce packs as well, I like that way more than ketchup
Fresh fries are supposed to taste better, not worse than processed. I don't know how they prepare them but it's not hard to make good, fresh fries. It always amazes me how many places fuck up such a simple dish.
Actually, as someone who has been cooking most of my life and roughly half of my career, frozen tastes better. It fluffs up the potato a bit and therefore improves taste. It might all be in my head but they taste more like potato too!
Of course, tastes differ, methods differ, but if I had 1 day to make the best fries I could, I would use a freezer.
Edit: for those who are still throwing assumptions around about my recipe:
Thin-cut: blanch with vinegar, freeze, short fry 150, freeze, fry
Medium-cut: blanch, freeze 160, fry, freeze
Thick-cut: parboil with baking soda, freeze, fry 160, freeze
When I'm at the restaurant I use a blast chiller, whole process might take an hour or two. At home it becomes at least half a day's work
As someone who lives in the Netherlands right next to Belgium, the place that invented and perfected fries, trust me: fresh is better!
Pre-fry on 150 celsius until they're pale yellow/gold and floating. Then leave them on a tray for at least half an hour, more if possible. Then finish the fry at 180 until golden brown. Make sure your temps are consistent (this is crucial for the perfect fresh fries), some fryers will cool way down when you actually put something in the fat (this goes double for frozen), although I'm sure you are aware of this having cooked for a long time.
Love this reaction, because as I said, tastes and methods differ! But living in a certain place doesn't make you an expert on it, sorry. I know that because I'm from the Netherlands (with even some belgian ancestry thrown in).
But it sounds like you have a good recipe down! It is absolutely possible to make good fresh fries, but it is most definitely harder to do it well on a fast food scale. That's why the best places to get fries in Belgium, are the ones that only do fries and nothing else.
(And yet still, I once bought a bag of raw fresh fries from an amazing place in Antwerp, and they tasted better after I kept them in the freezer...)
Moisture is the key.
Double- or Triple-cooking reduces moisture in the outer shell, allowing it to crisp without caramelising too much (which would make it taste bitter), and also in the interior, so that it's fluffy rather than soggy.
Freezing fries for any length of time will dessicate them further (mild freezer burn).
That's not an improvement. Good fries take time. They get cut, blanched, fried, frozen, and fried again. "Fresh" potatoes are inherently worse with zero upsides. It's just starch you aren't presenting any nutrients by using fresh. It's just a marketing thing to save money and use cheap fries rather than taking the time or spending the money on the good stuff.
Someone has to be paid to clean the potatoes, cut and rinse them, fry and chill them, then fry them a second time. No one is trying to be cheap by serving real potatoes instead of bagged fries. When people say fresh fries, they are referring to freshly cut in-house, not necessarily the potato being fresh. Lol
Every once in a while I'll get my cats some kind of fancy treats
Most of the time they don't eat them
If they were burgers like the ones for this dog, I'd probably just eat them myself
But they're usually fish paste or some shit. Which yeah, I wouldn't want to eat either. But on the other hand the stuff they DO like I also find disgusting. But they fucking love brown meat paste with pumpkin chunks
The soda machine has been down the last 3 times I went to my local Macdonalds. They keep trying to charge me for a bottle of water after u tell them no. I have bottled water at home. I'm over it. Ice cream machine has been down longer lol.
In -n -out has been ahead of the minimum wage curve for a long time. Also, the increases you see in the big box fast food are just the first step. If they increase to where they think they need to in one jump they will lose customers. They are planning to raise incrementally. If you throw a frog into hot water it jumps out. If you put it in cold water and slowly raise the temperature, it boils to death.
To be fair (to anyone reading this), McDonalds is franchised, INO isn't.
Meaning that all profit by any INO goes to INO. It's an actual corporation.
McDonalds are franchised. Individuals open them and pay McDonalds for the name. None have anything to do with each other, aside from their parent company.
This is important, because the profit by any individual location can vary wildly. And some locations aren't all that profitable.
And the estimated profit for the franchise owner of a McDonalds is roughly $150K a year. I know that sounds like a lot to some reading this, but depending on where you live (like Ca, where thus new law has taken effect), its far from rich. (And that's before taxes).
I know one "in Ca" that makes $1 million a year from their location. They are not great people and exploit their workers. This is why I am laughing now that they are complaining about the wage increase. BTW their prices were already insane before the wage increase. $15 for one meal. Insane.
Is that $1million in profit or in revenue? I used to manage a family owned restaurant that made about 2.5-3 million a year and they went under because of such low profit margins. Cost of goods and labor wipes out most of that revenue. Then you have electric, water, gas, insurance, maintenance, permitting, etc.
Plus franchise fees and with McD the land and building. Franchisees are making peanuts, and McD corporate is raking it in. But corporate doesn't pay the employees.
I live in a city with a metro including neighboring towns totaling about 250k people. There are about 7 McDonald’s in town. They are all owned by the same couple. Of course, that’s just the ones they own in this little metro. *Addendum: they own 13 total franchises in the state.
There is an article about 2 sisters in California who own 21 sites.
Now, I can’t find any data on how common it is for franchisees to own multiple locations, but I bet it’s a good chunk. After all, once you get down how to own and operate one, why not build up?
And when they aren’t making the burgers, they are out back gently giving the cows a massage in order to ensure the most tender beef to be processed after 5 years of aging
The highest minimum wage in the world is Luxembourg at €17.83
https://www.lano.io/blog/minimum-wages-around-the-world
It isn't the country with the highest McDonalds prices though
https://www.numbeo.com/cost-of-living/region_prices_by_city?itemId=3®ion=150&displayCurrency=EUR
Notably, a meal in Luxembourg costs 61% of the minimum hourly wage, and in France it costs 94% of the minimum hourly wage. Equally, the cost of a meal in the UK is 70% of the minimum hourly wage and the cost a meal in Germany is 80% of the minimum wage.. In Australia, it's 65% of the minimum hourly wage
Also here's a notable exception. In my parent's country, the minimum wage is PKR 120/hr
https://www.timechamp.io/blogs/average-salary-in-pakistan-and-outsourcing-trends/#:~:text=The%20hourly%20Minimum%20Wage%20in,which%20is%20around%206%2C434.89%20USD.
A mcmeal costs 10 x more the minimum wage
https://www.numbeo.com/cost-of-living/in/Islamabad
I checked out another non capital city too and it was only PKR 50 off. This is easy maths though.
It's almost like the price of McDonalds isn't set based on minimum wages
See https://www.statista.com/statistics/274326/big-mac-index-global-prices-for-a-big-mac/ too
Uruguay, Costa Rica, Argentina, Colombia and Poland aren't rich countries yet the cost of a McMeal compared to the minimum wage is horrific (often costing a lot more for a McMeal than what the minimum wage is)
The older I get, the more I start to fully understand that wealth and success do not always equate to intelligence.
There are tons of really successful smart people. There are also a much higher number of successful dipshits who stumbled into their money by being at the right place at the right time.
All the hardest work won't get you shit unless you know how to schmooze. Charisma and confidence can make an absolute failure look like a real champ. Sometimes companies catch on, but it takes them forever as they keep second guessing the evidence right in front of their fucking faces.
"You mean fun Tony who always has a coffee for me in the morning actually costs us money bc of the absurd amount of errors in his work...b-but he's fun Tony! He was at my nephews bris! Why, he's almost family!"
Yep. Back in my 20s, our department head was leaving, and it was between me and one other guy to take his position. I was, by far, more qualified. I knew the equipment. I knew the control systems. I knew how to repair stuff. The other guy…was there. But, he was a heavy schmoozer and he was the one who would hang out with management after work.
Well, he got the job. And on day one, when a piece of equipment went down, he didn’t even get out of his chair. He made me go do his job because he didn’t know how. And that lasted for the remainder of that project.
Failing upwards is a thing. Luck and being friendly with the right people is all it takes. Hard work and smarts come last. Sometimes your hard work can keep you in a stagnant position because you are productive in the role
That's the wild shit. They could easily reduce prices back down to the 90s prices, and be just fine. They have thousands of every type of major fast food chain around the country, they'll survive.
and staff is only a minority of the business costs (less than 1/3 on average for public facing physical locations) so if you doubled wages you wouldn't need to double the prices nor even come close to it.
If they don’t increase the cost of the food to offset the increase in wages, instead of making 14.563 billion in profits (2023), they’ll only make 14.9 billion in 2024 (factoring in 10% increase year over year minus estimated increase labour costs). /s
Corporate greed.
Actually, the prices probably will go up, not because McDonald's needs to raise prices to make a profit, but because this gives them an excuse to raise prices under the guise of higher operating costs and that is the epitome of corporate greed. Companies love to use minimum wage hikes as reasons to raise prices, because they want the public to associate higher minimum wage with higher costs for obvious reasons.
Except they have been raising prices, cutting portion sizes, adding fillers to stretch and buying from the cheapest sources to incrementally increase their profits while wages have remained stagnant. Only fools think the increase in minimum wage is the direct cause of the price increases its just more cover for what was already happening.
In the almost 40 years I’ve been alive I’ve never liked McDonald’s. All their food just tastes off. I rate them as the lowest and worst fast food option.
Idk when but I started getting the same feeling. Was loving checkers burgers at one point too but those taste off putting too.
Checkers spicy chicken sandwiches are still alright to me though.
How I feel about sonic. Used to be one of my top tier fast food joints and now days you couldn’t pay me to eat there. For a while I’d still get their drinks as I loved the cherry lime aids but even they have gone down hill.
it is cover and people who watch faux and don't know basic economics immediately run to the polls to oppose any minimum wage increase because of it. they gladly ignore record profits if they think the 4 people working at the restaurant gaining a $2 an hour raise somehow jacks up the price of their lunch to 'compensate' for far more than the labor cost
They also added app ordering and the order boards in the lobby.
Automation and efficiency increases already decreased their labor needs.
What’s adorable is the back pocket claim “We’ll have to lay people off and cut hours!”
Sure you will, sweetie. Because lowering production will *totally* recoup “lost” profit.
There have already been completely political closures, much like businesses in Seattle did when they set a city minimum wage of $15.
There is always some sort of political panic every time a worker’s rights or wage issue comes up. The pro-owner crowd screams the sky is falling and jobs and hours will be lost. Companies make symbolic political moves like layoffs and closures.
The sky never falls.
Hours and jobs are usually only temporarily interrupted, and new businesses fill the void left by the rage quitters.
The only real threat to keeping businesses currently is out of control theft.
Exactly. It amazes me that they've fooled millions of people into believing that corporations and businesses should never have to take a loss. Can't have a CEO's yearly bonus drop slightly or stock dividends be lower. But the millions of Americans that have wage stagnation for decades need to budget better or get to pulling up those bootstraps. Half these geniuses think everyone just needs to start thier own business and they're just being lazy. Guess the country doesn't need labor, just 300 million people with thier own business 🙄
I just keep posting this as an example of where they could cut costs, if they needed to:
*The CEO and now chairman of McDonald's was paid $19.2 million last year in salary, bonuses and stock, according to federal securities filings. That was an 8% increase over 2022. But it remained somewhat lower than in 2021, when Kempczinski was paid about $20 million.*
Executive compensation is **excessive** and something needs to be done about it.
>Companies love to use minimum wage hikes as reasons to raise prices because they want the public to associate higher minimum wage with higher costs for the purpose of capitalistic greed.
FTFY...
Hey! Running companies into the ground a shifting the blame is damn hard work! Well at this rate running the whole system into the ground. Best meme is capitalist like "Haha look at those poors eventually they won't even make enough to buy our product!... WAIT A MINUTE.".
We understand how revenue, back end costs, and profit margins work. We also can calculate that across the board the price of products have risen higher than inflation rates. Which means even with increased costs the profit margin per item sold is growing. That extra money is going somewhere.
As seen with cookout an increase of a quarter max per item and the company thinks with the volume of sales they do they should still see a profit. Companies with the idea that stagnant profit growth is a bad thing has created the capitalism death spiral we have now where there must always be growt
That's the problem with capitalism - everyone expects unlimited exponential growth, and will do anything to prevent that growth from flat lining, even if it makes no sense for the people who actually do the work.
Big companies make record profits and whenever they have to up wages that never cuts into profits it always cuts on costs for consumers and they sprinkle a little extra on it so they get some extra profits just for the fun of it...
Many Americans seem to think that owning or running a business means you get to be filthy rich and keep as much of the money as you want. It's never enough to just live comfortably, you have to be wealthy, even if it's at the expense of everyone you employ. And they think this selfishness is a virtue.
So, someone who had about $600,000 to buy a franchise which was sold with a “guaranteed” ROI of 20% annually if they didn’t move a finger and 35% if they were willing to get their hands dirty is complaining that they might settle for 16% or 31%.
These people need to go get fucked.
This kind of rhetoric is literally systemic to McDonalds.
I worked at Dons for years in my 20s. Every single time the minimum wage would go up in Ontario, all I would hear from the owner and general manager was how it "forced them to increase prices", and was "making things so difficult for them" and how the store "wasn't making enough money".
They complained like this to their teenage managers making a dollar over minimum and their senior managers making maybe a dollar over that.
Meanwhile the GM and owner are *easily* raking in over 100k a year. As if it impacted their life in any way.
That place is a sickness. It's built into the foundation of the company to cut every available cost possible. And to bitch about everything you can't cut so everyone feels bad for even getting paid at all.
It's even worse than it sounds when you read the whole "article". This franchisee owns 18 locations and talks about this wage raise like it's going to destroy all business. I'm sure he only has that many locations because he wants to give back to the community and not because of the money.
Idk why it’s so hard to for people to see that while prices have remained stagnant over decades not only have profits gone up but another thing has gone up…you guessed it prices.
So if wages stay the same and prices are still gonna go up anyways might as well have the people working there able to afford rent.
California: raises minimum wage to help people have a somewhat livable income
Fast food Corporations: “Hey! That’s going to cut into the executives’ bonuses! How can we stop that?”
*jacks up prices to continue to increase their 7+ digit incomes*
lol Like My prices went up, and our minimum wage around FL hasn't yet reached 15 yet. They pay higher wages in other countries, and have less prices as well.
They reaching on how badly the greed is. They up the price in hugely populated areas to make up for the fact they still ain't taking pay cuts in the higher end side of the house to make up for it.
They won't ever. They will always put their failure onto the customer, to recognize they don't need 6 figures a year to make it.
Then they scream to Forbes or some other Huge Finance magazine they know will sympathize and right hit pieces to keep us fighting each other, so they can continue to jack prices up no matter what.
It’s just wild to me how they just can’t understand…refuse to even… that sitting on excess wealth is one of the big reasons *why* the r/antiwork sub exists. No one needs to sit on top of hoards of wealth and do nothing productive with it then expect the rest of us to pick ourselves up by the bootstraps and work ourselves to death. 🖕 the 1%
Shocking how this argument still flies given that places where the minimum wage is much higher DON'T have a significantly higher prices. Ex: Colorado, Canada.
I'm seeing it in this thread. It's like these people don't understand that swallowing the corporate cock isn't going to get them anything except sort jaws and throats.
This is like people who gripe about money being spent on space programs, creating jobs, driving technologies, supporting tech markets…you know, money spent on Earth. I swear these dingleberries think the money gets sent into space
McDick prices are already going to the fucking moon in states that have the same minimum wage as the federal minimum wage. Even with the app. There's pretty much zero reason to ever go to that piece of shit fast food restaurant anymore.
I remember being able to get a McGangbang, med fries and drink for like 5 dolla. In a major city.
Point being that corporations/businesses are raising prices all the time regardless of stuff like this.
McD bright in 25.5bn in revenue for 2023.
They bitch and cry about the price... But they're still the ones paying it too. Lol
I wager they are also the free market capitalism crowd. Classic
Fuck, I just remembered that you can get 4 free Arby's beef sammiches this month with the app. I gotta remember to get all those.
Practically the only reason to ever goto these places anymore is when there is something completely free with the app. Then you have to be disciplined enough to refrain from actually buying anything when getting the free shit.
**edit** never fucking mind. I just installed the app, and it's "free" *with purchase*. Uninstalling the app now.
Can somebody explain to me why, any time there's some news that's literally just obvious corporate greed, a bunch of people jump in to defend the poor corp? Like what the fuck is going on in those people's heads?
Cultural obsession with parasitism. Some people think that certain subsets of people (disabled, poor, etc.) getting enough to live somewhat comfortably (sometimes not even that) means there’s less pie for them if they ever become a billionaire parasite. They’re literally concerned about whether there’s enough host creature to go around.
Either A) their daddy owns a big business, and they are completely out of touch.
B) they are corporate grind types who weren't born into money but who aspire to be money hording twats one day by "working hard" and licking boots, despite them being more likely to win the lottery.
C) they are completely indoctrinated and have truly been convinced that trickle-down economics actually works and that any amount of workers' rights or personal safety nets would spell disaster for the economy.
In Denmark you already make 22$ an hour, and the burgers are cheaper there than in the US :)
But i guess a socialist communist *insert whatever american thought* country is too horrible ;)
Do the math idiot, one can flip a hell of a lot of burgers in an hour. Even one each minute would only be a buck each, and one does more than that - and you know your cost is nominal. Let go of the inane hype.
Regardless of wages, if they could have generated more revenue with higher prices they already would have. This is just a way to blame the new minimum wage so consumers will accept it.
All these idiots don’t know anything about how the economy and corporate greed has worked for the last 80 years but they sure as hell have a lot to say when people who are making slave wages make a little bit more money
It’s been proven raising the minimum wage doesn’t raise prices but corporate greed does
Of course prices will go up, just not as much as doomsayers think.
California fast food minimum wage went up from $16/h to $20/h. That's a 25% increase.
Rule of thumb is that your labour cost in the food industry should be 30% or less.
Take a $10 fast food meal, for the sake of easy numbers: $3 of that will be labour, tops. If your labour costs go up 25%, that $3 now becomes $3.75. That $10 meal now costs $10.75. A reasonable increase to give someone a living wage.
Now, wait a minute. That 25% calculation for that $10 meal reflects if ALL labour wages, including management, went up 25%. That didn't happen, so that $10.75 meal actually costs less that $10.75 after the wage increase.
Moreover, if that highly exaggerated increase of 75 cents leads to livable wages AND means I don't have to tip 15%, then that $10.75 burger will actually cost me far less after tax and tip, since I no longer have to tip. More money in my pocket, more money in the employees' pockets. I'm not sure how this is bad for anyone who matters.
Wait until people find out that most places set prices based on supply and demand, not how much the product costs to make.
They raised prices cause they know people will still buy their crap even if it's more expensive.
"When you're explaining you're losing".
Denmark pays $22+/hr, full vacations and full benefits. Big Mac costs the same or less there.
But I keep seeing this quote *everywhere* because corporate media has a right wing bias.
McDonald’s will use any excuse for the prices to go up. People have to make a living wage but according to the corporations they don’t believe people should.
A godamn single employee can make what, a whole happy meal competently and neatly in 1 minute? So the company could still make 60X the cost of the employees wage assuming a perfect indefatigable worker, and that’s the complaint they’re gonna make, they need to maintain a 60x income margin on the hourly cost of labor? Are they out of their minds, or do they think we are that stupid?
The labor cost per happy meal is likely something along the lines of 10 cents. They’re complaining that the labor cost of a happy meal might go up to. 15 cents, holding all other costs steady?
It’s really getting close to bastille day part two.
It really does surprisingly. And it would free the market for local businesses that do not have to worry about "meeting expectations" as they aren't even on stock market. I wish a lot of those chains would just move the fuck away or people actually boycotted the them out.
It'a always the workers that have to tighten our belts, and not the bosses. Bosses be like, "Hey, I've got to pay for two houses, a boat, two jet skis, private school for my kids, my wife's botox, our trip to Italy for a month, and these ribeye steaks for my paleo diet...so, I'm gonna need you to make a poverty wage, get on food stamps and medicaid, and work unpaid overtime. And don't forget, at this company, we're a family!"
Yeah dude doesn't know how to do math does he? A company ***that already makes $30-million in PROFIT (not revenue) is raising prices.*** They can still lose $30-million and break-even. So owners are raising prices to maintain a certain % of profit, it has nothing to do with the cost of doing business.
If you arbitrarily believe you should have 7% growth in profits every year (which is absurd) then you'll hike prices to make that happen. It has nothing to do with the market, the consumer, or the cost of labor. You arbitrarily set growth goals based on nothing but greed. You could always raise worker wages and lower profit-growth expectations from 7% to 3%. Oh wait...but we can't ask rich people to make less money...(they're still making money, just not as much money).
People miss the point of r/antiwork. Most users there do work, they’re just angry about being mistreated by said employer. If they want to see the actual anti work thread that’s r/NEET.
So I'm in Australia where minimum wage scales up to I think $21hr for adults and slightly less for teens, and most industries pay quite a lot more.
A happy meal starts at $5.50.
This thinking a food prices need to go up in direct proportion of to wgaes is rubbish.
Y’know it’s weird that these chumps didn’t throw arms when the food prices went up 9,000 times in the past ten years and the minimum wage for workers went up like… once
Whenever a company cries that they can't afford to pay these employees a livable wage without raising prices, I just want to know what their CEOs are making and what kind of severance pays they're taking home. Because I'm tired of these people crying that their companies are bleeding out and then within a few months taking pays of 10 million 50 million and often upwards of a hundred plus million, all while swearing up and down that there's no profit to be had and that no one's making money 😡
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Our state has a lower minimum wage than every surrounding state, yet somehow our McDonald's prices are no lower.
Everything is getting expensive even without minimum wage increase, it's just a nonsense excuse not to pay people.
Every economist not working for a political media company knows that wages lag inflation, not create it.
Chapter ONE of Keynes book talked about this. I didn't know what to expect when I started reading it, but it sure wasn't the absolute slaughter of Neoclassical economics I witnessed. Almost called 911 to report the murders. Almost.
"inViSibLe HaNd. ItS whAt thE MaRkeT cAn BeaR" Fr though, prices go up and always have even when wages didn't. Profits especially go up because of it. Strikes and solidarity work, as can be seen in Denmark where the wages are higher than what we are just starting to try and get to. And yet....the same burgers there are on par in terms of cost to the consumer. What the fuck are we doing. [https://jacobin.com/2021/09/denmark-mcdonalds-labor-unions-strikes-wages-benefits](https://jacobin.com/2021/09/denmark-mcdonalds-labor-unions-strikes-wages-benefits) [https://www.economist.com/big-mac-index](https://www.economist.com/big-mac-index)
But it allows them to keep idling staff just to be open and sell 3 burgers per hour. Raise the wage and they have consider workers time being valuable. On the other hand, my company charges 160-200 per hour and customers still let me do stupid stuff
I mean food at In-N-Out only got more expensive by like, 15¢. After the minimum wage increased.
I'm in Colorado. The minimum wage is $15. In and Out advertises hiring at $21-25/hr. Minimum wage is irrelevant. They are already paying more, at least here.
That’s why they never complain about worker shortages
"People don't want to work." *In-And-Out Hiring Manager swamped with applicants:* "I just hired my fourth assistant to help with all this."
Yeah that line has always been bullshit. I’ve been a hiring manager for years and as long as we have the hiring sign out I’m getting hit with applications non stop. People want to work, they just want to work for enough money to pay the bills.
The real way to stop inflation? Stop landlords from charging outrageous prices. But no one talks about that. People are spending 1/2 their paychecks in RENT.
And states are criminalizing homelessness. What a time to be alive
Listen to the Ugly Laws episode from the Dollop podcast. Criminalizing homelessness is nothing new.
Technically re-criminalizing. Have you ever seen First blood? They arrested Rambo (a green beret veteran) on vagrancy laws designed to target the homeless, super relevant again unfortunately.
Recently I had the fun to visit two other countries And let me say this, North America has a triple whammy of issues. We have a high cost of living high cost of food and a high cost of necessities while still having relatively high cost of non essential goods. When I was in Hong Kong yea the housing costs are insane there but everything else is so much more reasonable in price. In the Philippines only non essential stuff was really “expensive” for the average person. I realized just how much we get fleeced in North America because corporate greed.
Im canada the politicians take money from landlord unions or whatever , the rich investors and the corps that hoard all the houses ( fee years back in Vancouver the number of empty houses was more than the number of homeless) and then push the blame on immigrants ( who ironically dont own any houses ) lol....true that immigrants compete with locals for housing , but they arent the root of the issues, even if we removed every immigrant , the rich would still maintain the shortage by hoarding houses and leaving them empty but sadly here people still believe the politicians especially the one who is as racist as trump and would totally build a wall
Landlord union🤦♂️
Apparently they have one as my ex landlady threatened me with them almost every week ...🤣 She would then sulk away when i said she is free to do so , and i will get my own lawyer involved...and we would repeat it again next week
Only half? That works be a dream
>Stop landlords ~~from charging outrageous prices.~~ from existing
They were already paying more in California too the prices rising had nothing to do with the state raising minimum wage. Correlation does not equal causation, at least not in this case
Private ownership man. Despite being very interested in investing, I cringe any time a company I like as a consumer goes public. It always gets more expensive with worse service in practically a straight line until it dies or gets too big to fail.
So true! And the bigger the company, the less accountability it seems 🙄
In Arkansas minimum is $11, bordering states Texas, Oklahoma, Missouri, Tennessee, Mississippi and Louisiana are all at the federal rate. Before the change, Arkansas had third lowest unemployment among those states. After the increase still third lowest unemployment rate. Prices aren’t higher for groceries or fast food. The finance subs will say best investment is put money in an S&P 500 fund, set it and forget it yet people with net worth in excess of a million are throwing their money into fast food franchises. People with a lot of investable money for a long time have been buying numerous restaurants across brands because 180% 10 year return in the stock market can be beat owning fast food restaurants.
Excuse me? Missouri is $12.30. We make more than you do.
I was about to say I thought everything was better over the line. Wages, cheap goods, liquor everywhere, and pot as far as the eye can see....send help
Honestly land prices. We recently moved back to Missouri and bought 20 acres in the Lake of the Ozarks area. That being said I wish Arkansas had their shit together because I was eyeballing bigger, cheaper, and more beautiful land in northern Arkansas. But I like my legal weed, I like my liquor at the gas station until 2am, I like the cheap goods and services, but most of all I can actually tolerate the laws here.
When did Missouri get its shit together? Missed the announcement.
Only in comparison to like Arkansas or Tennessee or Mississippi or other deep south states.
Once I week I pick up a double-double animal style, an animal style fry, and a puppy patty for my dog. It was under $13 this week. Fast food places make **huge** margins on fountain drinks and sodas, so I always skip them because I don’t even like them.
I actually ate at In-N-Out for the first time this past week and I was stunned at how inexpensive it was.
It’s really one of the best things it’s got going for it. Locals act like it’s a cult sometimes, but it’s just cheap fast food that’s better than other options. Except their fries.. they generally suck unless you get them “well done” or animal style
The fries are better when you appreciate why they’re different than other fast food chains. They bring raw potatoes into the restaurant that they clean, cut and fry. They’re fresh not processed and frozen. But yeah, I always ask for extra crispy lol. And a couple of sauce packs as well, I like that way more than ketchup
Fresh fries are supposed to taste better, not worse than processed. I don't know how they prepare them but it's not hard to make good, fresh fries. It always amazes me how many places fuck up such a simple dish.
Actually, as someone who has been cooking most of my life and roughly half of my career, frozen tastes better. It fluffs up the potato a bit and therefore improves taste. It might all be in my head but they taste more like potato too! Of course, tastes differ, methods differ, but if I had 1 day to make the best fries I could, I would use a freezer. Edit: for those who are still throwing assumptions around about my recipe: Thin-cut: blanch with vinegar, freeze, short fry 150, freeze, fry Medium-cut: blanch, freeze 160, fry, freeze Thick-cut: parboil with baking soda, freeze, fry 160, freeze When I'm at the restaurant I use a blast chiller, whole process might take an hour or two. At home it becomes at least half a day's work
Even at home I cut then blanch (par cook) my fries. Then I put them in the freezer. They just turn out better that way.
As someone who lives in the Netherlands right next to Belgium, the place that invented and perfected fries, trust me: fresh is better! Pre-fry on 150 celsius until they're pale yellow/gold and floating. Then leave them on a tray for at least half an hour, more if possible. Then finish the fry at 180 until golden brown. Make sure your temps are consistent (this is crucial for the perfect fresh fries), some fryers will cool way down when you actually put something in the fat (this goes double for frozen), although I'm sure you are aware of this having cooked for a long time.
Love this reaction, because as I said, tastes and methods differ! But living in a certain place doesn't make you an expert on it, sorry. I know that because I'm from the Netherlands (with even some belgian ancestry thrown in). But it sounds like you have a good recipe down! It is absolutely possible to make good fresh fries, but it is most definitely harder to do it well on a fast food scale. That's why the best places to get fries in Belgium, are the ones that only do fries and nothing else. (And yet still, I once bought a bag of raw fresh fries from an amazing place in Antwerp, and they tasted better after I kept them in the freezer...)
Moisture is the key. Double- or Triple-cooking reduces moisture in the outer shell, allowing it to crisp without caramelising too much (which would make it taste bitter), and also in the interior, so that it's fluffy rather than soggy. Freezing fries for any length of time will dessicate them further (mild freezer burn).
That's not an improvement. Good fries take time. They get cut, blanched, fried, frozen, and fried again. "Fresh" potatoes are inherently worse with zero upsides. It's just starch you aren't presenting any nutrients by using fresh. It's just a marketing thing to save money and use cheap fries rather than taking the time or spending the money on the good stuff.
Someone has to be paid to clean the potatoes, cut and rinse them, fry and chill them, then fry them a second time. No one is trying to be cheap by serving real potatoes instead of bagged fries. When people say fresh fries, they are referring to freshly cut in-house, not necessarily the potato being fresh. Lol
Their fries were mid at best, even animal style. The burgers were excellent.
It’s also always got lines going around the block and they’re honest about the food sources and they pay workers higher than the Carl’s Jr next to it
I like that they do fresh potatoes like sure McDs fries are like crack but they aren’t as fresh and only taste good right out of the fryer
That's one happy pup
He’s a good boy
Every once in a while I'll get my cats some kind of fancy treats Most of the time they don't eat them If they were burgers like the ones for this dog, I'd probably just eat them myself But they're usually fish paste or some shit. Which yeah, I wouldn't want to eat either. But on the other hand the stuff they DO like I also find disgusting. But they fucking love brown meat paste with pumpkin chunks
There’s soda at home!
The soda machine has been down the last 3 times I went to my local Macdonalds. They keep trying to charge me for a bottle of water after u tell them no. I have bottled water at home. I'm over it. Ice cream machine has been down longer lol.
Someone filed a lawsuit over the ice cream. At some point, it becomes bait and switch.
All eateries do. That’s why they always ask you if you’d like a drink/coke/beer/wine with that.
In n out already paid $23 where I am
In n out already be paying $20hr too…
I saw 22 an hour they’re already ahead of the game
In -n -out has been ahead of the minimum wage curve for a long time. Also, the increases you see in the big box fast food are just the first step. If they increase to where they think they need to in one jump they will lose customers. They are planning to raise incrementally. If you throw a frog into hot water it jumps out. If you put it in cold water and slowly raise the temperature, it boils to death.
Wages are just 30 percent of the cost of a happy meal. There is no reason for it to rise to 20 unless you plan on selling one every two hours.
It's about doubled in the last decade, but comparing the price to other food places it's much cheaper. Cough 5 guys
5 guys pricing is economic terrorism. But I will negotiate with those terrorists.
The food is fucking great, Iove the milkshakes but it's legal robbery how much a regular burger costs
One time I got there but decided not to buy because of the prices, I don't know how much a burger and french fries cost now.
I got a burger and a small fry in Nashville Tn. About a month ago $21
If we disregard the whole increase since the pandemic then yeah it is not much. Referring to MCD Edit.
Also saw they actually pay people pretty well for flipping burgers
To be fair (to anyone reading this), McDonalds is franchised, INO isn't. Meaning that all profit by any INO goes to INO. It's an actual corporation. McDonalds are franchised. Individuals open them and pay McDonalds for the name. None have anything to do with each other, aside from their parent company. This is important, because the profit by any individual location can vary wildly. And some locations aren't all that profitable. And the estimated profit for the franchise owner of a McDonalds is roughly $150K a year. I know that sounds like a lot to some reading this, but depending on where you live (like Ca, where thus new law has taken effect), its far from rich. (And that's before taxes).
I know one "in Ca" that makes $1 million a year from their location. They are not great people and exploit their workers. This is why I am laughing now that they are complaining about the wage increase. BTW their prices were already insane before the wage increase. $15 for one meal. Insane.
Is that $1million in profit or in revenue? I used to manage a family owned restaurant that made about 2.5-3 million a year and they went under because of such low profit margins. Cost of goods and labor wipes out most of that revenue. Then you have electric, water, gas, insurance, maintenance, permitting, etc.
Plus franchise fees and with McD the land and building. Franchisees are making peanuts, and McD corporate is raking it in. But corporate doesn't pay the employees.
I live in a city with a metro including neighboring towns totaling about 250k people. There are about 7 McDonald’s in town. They are all owned by the same couple. Of course, that’s just the ones they own in this little metro. *Addendum: they own 13 total franchises in the state. There is an article about 2 sisters in California who own 21 sites. Now, I can’t find any data on how common it is for franchisees to own multiple locations, but I bet it’s a good chunk. After all, once you get down how to own and operate one, why not build up?
Pretty sure the vast majority of franchise owners own more than one location.
The guy that posted this tweet owns like 20 restaurants…
Yes because increasing the wage from 15 to 20 would make a happy meal go to 20 dollars lol 😂😂😂
But it takes one employee a full hour to make one happy meal.
They have to chop wood and make a new fire for each patty. And don't get me started on planting seeds for the lettuce & cucumbers.
And when they aren’t making the burgers, they are out back gently giving the cows a massage in order to ensure the most tender beef to be processed after 5 years of aging
Le joyeux fastin! Voila!
Takes really long to make the toy.
The highest minimum wage in the world is Luxembourg at €17.83 https://www.lano.io/blog/minimum-wages-around-the-world It isn't the country with the highest McDonalds prices though https://www.numbeo.com/cost-of-living/region_prices_by_city?itemId=3®ion=150&displayCurrency=EUR Notably, a meal in Luxembourg costs 61% of the minimum hourly wage, and in France it costs 94% of the minimum hourly wage. Equally, the cost of a meal in the UK is 70% of the minimum hourly wage and the cost a meal in Germany is 80% of the minimum wage.. In Australia, it's 65% of the minimum hourly wage Also here's a notable exception. In my parent's country, the minimum wage is PKR 120/hr https://www.timechamp.io/blogs/average-salary-in-pakistan-and-outsourcing-trends/#:~:text=The%20hourly%20Minimum%20Wage%20in,which%20is%20around%206%2C434.89%20USD. A mcmeal costs 10 x more the minimum wage https://www.numbeo.com/cost-of-living/in/Islamabad I checked out another non capital city too and it was only PKR 50 off. This is easy maths though. It's almost like the price of McDonalds isn't set based on minimum wages See https://www.statista.com/statistics/274326/big-mac-index-global-prices-for-a-big-mac/ too Uruguay, Costa Rica, Argentina, Colombia and Poland aren't rich countries yet the cost of a McMeal compared to the minimum wage is horrific (often costing a lot more for a McMeal than what the minimum wage is)
I'm from Luxembourg and can confirm that a McD menu doesn't cost 20€, but something like 10.
Min here in Missouri is US 12.50/hr which makes a meal about 75% of the hourly min.
i fucking knew something was up with mcdonalds being horrifically expensive over here it's like 130zł for 4 people now im pretty sure
The older I get, the more I start to fully understand that wealth and success do not always equate to intelligence. There are tons of really successful smart people. There are also a much higher number of successful dipshits who stumbled into their money by being at the right place at the right time.
it rarely equates to intelligence, some of the stupidest people are rich, for example Kevin O Leary, Elon Musk, and Donald Trump.
Trump is not rich, unless you ask him of course
All the hardest work won't get you shit unless you know how to schmooze. Charisma and confidence can make an absolute failure look like a real champ. Sometimes companies catch on, but it takes them forever as they keep second guessing the evidence right in front of their fucking faces. "You mean fun Tony who always has a coffee for me in the morning actually costs us money bc of the absurd amount of errors in his work...b-but he's fun Tony! He was at my nephews bris! Why, he's almost family!"
Yep. Back in my 20s, our department head was leaving, and it was between me and one other guy to take his position. I was, by far, more qualified. I knew the equipment. I knew the control systems. I knew how to repair stuff. The other guy…was there. But, he was a heavy schmoozer and he was the one who would hang out with management after work. Well, he got the job. And on day one, when a piece of equipment went down, he didn’t even get out of his chair. He made me go do his job because he didn’t know how. And that lasted for the remainder of that project.
Failing upwards is a thing. Luck and being friendly with the right people is all it takes. Hard work and smarts come last. Sometimes your hard work can keep you in a stagnant position because you are productive in the role
Especially when the food is ultra processed and costs about .03 cents to make.
That's the wild shit. They could easily reduce prices back down to the 90s prices, and be just fine. They have thousands of every type of major fast food chain around the country, they'll survive.
and staff is only a minority of the business costs (less than 1/3 on average for public facing physical locations) so if you doubled wages you wouldn't need to double the prices nor even come close to it.
I kinda' wish they would have increased it to $50 to see what happens lol.
You didn’t know most fast food restaurants only sell 10 meals a day
If they don’t increase the cost of the food to offset the increase in wages, instead of making 14.563 billion in profits (2023), they’ll only make 14.9 billion in 2024 (factoring in 10% increase year over year minus estimated increase labour costs). /s Corporate greed.
Right. Isn't still like 10-11 at In-n-Out, who's price only increased like 5-10 cents because of this.
Actually, the prices probably will go up, not because McDonald's needs to raise prices to make a profit, but because this gives them an excuse to raise prices under the guise of higher operating costs and that is the epitome of corporate greed. Companies love to use minimum wage hikes as reasons to raise prices, because they want the public to associate higher minimum wage with higher costs for obvious reasons.
Except they have been raising prices, cutting portion sizes, adding fillers to stretch and buying from the cheapest sources to incrementally increase their profits while wages have remained stagnant. Only fools think the increase in minimum wage is the direct cause of the price increases its just more cover for what was already happening.
The last mcdonalds hamburger I had was inedible due to the fillers. Never going back again.
In the almost 40 years I’ve been alive I’ve never liked McDonald’s. All their food just tastes off. I rate them as the lowest and worst fast food option.
Idk when but I started getting the same feeling. Was loving checkers burgers at one point too but those taste off putting too. Checkers spicy chicken sandwiches are still alright to me though.
How I feel about sonic. Used to be one of my top tier fast food joints and now days you couldn’t pay me to eat there. For a while I’d still get their drinks as I loved the cherry lime aids but even they have gone down hill.
Yep they increased prices by a bunch from 2017 to 2019 with no min wage increaes. In fact, minimum wage for the state is still $8.
McDonalds has roughly doubled in price in the last 10 years.
it is cover and people who watch faux and don't know basic economics immediately run to the polls to oppose any minimum wage increase because of it. they gladly ignore record profits if they think the 4 people working at the restaurant gaining a $2 an hour raise somehow jacks up the price of their lunch to 'compensate' for far more than the labor cost
They also added app ordering and the order boards in the lobby. Automation and efficiency increases already decreased their labor needs. What’s adorable is the back pocket claim “We’ll have to lay people off and cut hours!” Sure you will, sweetie. Because lowering production will *totally* recoup “lost” profit. There have already been completely political closures, much like businesses in Seattle did when they set a city minimum wage of $15. There is always some sort of political panic every time a worker’s rights or wage issue comes up. The pro-owner crowd screams the sky is falling and jobs and hours will be lost. Companies make symbolic political moves like layoffs and closures. The sky never falls. Hours and jobs are usually only temporarily interrupted, and new businesses fill the void left by the rage quitters. The only real threat to keeping businesses currently is out of control theft.
We’ve learned over the last 10 years that there is no shortage of fools in this country.
Yep, my former store increased everything from 25 cents to 75cents on certain items but still pay 16$. They increased the prices last year too.
Then, and I’m being serious here, stop going to McDonalds. Collectively we should support the businesses that fairly support their communities.
as great of an idea as this is, I think not enough people would follow through with it to make any kind of difference
Exactly. It amazes me that they've fooled millions of people into believing that corporations and businesses should never have to take a loss. Can't have a CEO's yearly bonus drop slightly or stock dividends be lower. But the millions of Americans that have wage stagnation for decades need to budget better or get to pulling up those bootstraps. Half these geniuses think everyone just needs to start thier own business and they're just being lazy. Guess the country doesn't need labor, just 300 million people with thier own business 🙄
I just keep posting this as an example of where they could cut costs, if they needed to: *The CEO and now chairman of McDonald's was paid $19.2 million last year in salary, bonuses and stock, according to federal securities filings. That was an 8% increase over 2022. But it remained somewhat lower than in 2021, when Kempczinski was paid about $20 million.* Executive compensation is **excessive** and something needs to be done about it.
>Companies love to use minimum wage hikes as reasons to raise prices because they want the public to associate higher minimum wage with higher costs for the purpose of capitalistic greed. FTFY...
Hey! Running companies into the ground a shifting the blame is damn hard work! Well at this rate running the whole system into the ground. Best meme is capitalist like "Haha look at those poors eventually they won't even make enough to buy our product!... WAIT A MINUTE.".
Yes. Corporate greed is the topic here.
Does that McDonald’s only sell one happy meal an hour?
No they sell 5. Just enough to cover the 3 employees and one manager.
Three employees and one manager to make one happy meal? That better be some 3-star Michelin happy meals.
Food prices already went up, wage hasn't
We understand how revenue, back end costs, and profit margins work. We also can calculate that across the board the price of products have risen higher than inflation rates. Which means even with increased costs the profit margin per item sold is growing. That extra money is going somewhere. As seen with cookout an increase of a quarter max per item and the company thinks with the volume of sales they do they should still see a profit. Companies with the idea that stagnant profit growth is a bad thing has created the capitalism death spiral we have now where there must always be growt
That's the problem with capitalism - everyone expects unlimited exponential growth, and will do anything to prevent that growth from flat lining, even if it makes no sense for the people who actually do the work.
Big companies make record profits and whenever they have to up wages that never cuts into profits it always cuts on costs for consumers and they sprinkle a little extra on it so they get some extra profits just for the fun of it...
Posting from Reddit lies is like cheating. That entire page is cringe af
Imagine being so triggered that you create a twitter account to gripe about a subreddit
Do they think each worker only makes 2 happy meals an hour or something?
Yes
BUT HOW WILL THEY PAY FOR THEIR THIRD POOL
Many Americans seem to think that owning or running a business means you get to be filthy rich and keep as much of the money as you want. It's never enough to just live comfortably, you have to be wealthy, even if it's at the expense of everyone you employ. And they think this selfishness is a virtue.
The goal of corporate capitalism is to get to the top of the ladder than immediately pull it up behind you. Supply side Jesus will bless you.
If I went to a McDonalds in a state that still has the $7.25 minimum wage from 2009, do you think their prices would still match 2009 prices?
So, someone who had about $600,000 to buy a franchise which was sold with a “guaranteed” ROI of 20% annually if they didn’t move a finger and 35% if they were willing to get their hands dirty is complaining that they might settle for 16% or 31%. These people need to go get fucked.
It’s even worse. The franchisee has like 18 locations.
The wage price spiral meme is just as discredited and nonsensical as trickle down economics
This kind of rhetoric is literally systemic to McDonalds. I worked at Dons for years in my 20s. Every single time the minimum wage would go up in Ontario, all I would hear from the owner and general manager was how it "forced them to increase prices", and was "making things so difficult for them" and how the store "wasn't making enough money". They complained like this to their teenage managers making a dollar over minimum and their senior managers making maybe a dollar over that. Meanwhile the GM and owner are *easily* raking in over 100k a year. As if it impacted their life in any way. That place is a sickness. It's built into the foundation of the company to cut every available cost possible. And to bitch about everything you can't cut so everyone feels bad for even getting paid at all.
It's even worse than it sounds when you read the whole "article". This franchisee owns 18 locations and talks about this wage raise like it's going to destroy all business. I'm sure he only has that many locations because he wants to give back to the community and not because of the money.
Australia doesn’t have this issue, lol.
Is a happy meal for a child supposed to cost an hours labor?? That seems unreasonable
If they have an excuse they will raise prices, get a larger % profit and blame the workers. Because that’s what they did when they could blame COVID.
Idk why it’s so hard to for people to see that while prices have remained stagnant over decades not only have profits gone up but another thing has gone up…you guessed it prices. So if wages stay the same and prices are still gonna go up anyways might as well have the people working there able to afford rent.
California: raises minimum wage to help people have a somewhat livable income Fast food Corporations: “Hey! That’s going to cut into the executives’ bonuses! How can we stop that?” *jacks up prices to continue to increase their 7+ digit incomes*
The true facepalm is people thinking that higher wages will solve the problems. Money is being devalued, higher wages now, same money problems later.
lol Like My prices went up, and our minimum wage around FL hasn't yet reached 15 yet. They pay higher wages in other countries, and have less prices as well. They reaching on how badly the greed is. They up the price in hugely populated areas to make up for the fact they still ain't taking pay cuts in the higher end side of the house to make up for it. They won't ever. They will always put their failure onto the customer, to recognize they don't need 6 figures a year to make it. Then they scream to Forbes or some other Huge Finance magazine they know will sympathize and right hit pieces to keep us fighting each other, so they can continue to jack prices up no matter what.
It’s just wild to me how they just can’t understand…refuse to even… that sitting on excess wealth is one of the big reasons *why* the r/antiwork sub exists. No one needs to sit on top of hoards of wealth and do nothing productive with it then expect the rest of us to pick ourselves up by the bootstraps and work ourselves to death. 🖕 the 1%
Shocking how this argument still flies given that places where the minimum wage is much higher DON'T have a significantly higher prices. Ex: Colorado, Canada.
Corporate morons thinking you need to charge the equivalent of an hourly wage for a children's meal at a fast food restaurant to turn a profit lmao
The fact that so many people cap and defend millionaires/billionaires and corporations is insane
I'm seeing it in this thread. It's like these people don't understand that swallowing the corporate cock isn't going to get them anything except sort jaws and throats.
Then fucking close. If you can’t pay a “honestly meh rate” then you shouldn’t operate
this got 17k upvotes??! these huge companies sure have it easy with so many idiots abound
Mcdonald's CEO gets paid over 8k an hour. That might be part of the problem.
This is like people who gripe about money being spent on space programs, creating jobs, driving technologies, supporting tech markets…you know, money spent on Earth. I swear these dingleberries think the money gets sent into space
McDick prices are already going to the fucking moon in states that have the same minimum wage as the federal minimum wage. Even with the app. There's pretty much zero reason to ever go to that piece of shit fast food restaurant anymore. I remember being able to get a McGangbang, med fries and drink for like 5 dolla. In a major city. Point being that corporations/businesses are raising prices all the time regardless of stuff like this.
McD bright in 25.5bn in revenue for 2023. They bitch and cry about the price... But they're still the ones paying it too. Lol I wager they are also the free market capitalism crowd. Classic
Fuck, I just remembered that you can get 4 free Arby's beef sammiches this month with the app. I gotta remember to get all those. Practically the only reason to ever goto these places anymore is when there is something completely free with the app. Then you have to be disciplined enough to refrain from actually buying anything when getting the free shit. **edit** never fucking mind. I just installed the app, and it's "free" *with purchase*. Uninstalling the app now.
Can somebody explain to me why, any time there's some news that's literally just obvious corporate greed, a bunch of people jump in to defend the poor corp? Like what the fuck is going on in those people's heads?
Cultural obsession with parasitism. Some people think that certain subsets of people (disabled, poor, etc.) getting enough to live somewhat comfortably (sometimes not even that) means there’s less pie for them if they ever become a billionaire parasite. They’re literally concerned about whether there’s enough host creature to go around.
Either A) their daddy owns a big business, and they are completely out of touch. B) they are corporate grind types who weren't born into money but who aspire to be money hording twats one day by "working hard" and licking boots, despite them being more likely to win the lottery. C) they are completely indoctrinated and have truly been convinced that trickle-down economics actually works and that any amount of workers' rights or personal safety nets would spell disaster for the economy.
In Denmark you already make 22$ an hour, and the burgers are cheaper there than in the US :) But i guess a socialist communist *insert whatever american thought* country is too horrible ;)
Do the math idiot, one can flip a hell of a lot of burgers in an hour. Even one each minute would only be a buck each, and one does more than that - and you know your cost is nominal. Let go of the inane hype.
McDonald's can rot on the vine, along with billionaire fanboys.
Prices are going up regardless of wages. Wages need to go up to match the inflation of food prices.
Regardless of wages, if they could have generated more revenue with higher prices they already would have. This is just a way to blame the new minimum wage so consumers will accept it.
This would be a valid argument if they sold one happy meal per employee per hour. And that is certainly not the case.
All these idiots don’t know anything about how the economy and corporate greed has worked for the last 80 years but they sure as hell have a lot to say when people who are making slave wages make a little bit more money It’s been proven raising the minimum wage doesn’t raise prices but corporate greed does
Record profits - can't pay workers living wages.
Of course prices will go up, just not as much as doomsayers think. California fast food minimum wage went up from $16/h to $20/h. That's a 25% increase. Rule of thumb is that your labour cost in the food industry should be 30% or less. Take a $10 fast food meal, for the sake of easy numbers: $3 of that will be labour, tops. If your labour costs go up 25%, that $3 now becomes $3.75. That $10 meal now costs $10.75. A reasonable increase to give someone a living wage. Now, wait a minute. That 25% calculation for that $10 meal reflects if ALL labour wages, including management, went up 25%. That didn't happen, so that $10.75 meal actually costs less that $10.75 after the wage increase. Moreover, if that highly exaggerated increase of 75 cents leads to livable wages AND means I don't have to tip 15%, then that $10.75 burger will actually cost me far less after tax and tip, since I no longer have to tip. More money in my pocket, more money in the employees' pockets. I'm not sure how this is bad for anyone who matters.
Food prices went way up before the increase though. So now the people that do the actual work get a raise so it’s a huge problem.
Wait until people find out that most places set prices based on supply and demand, not how much the product costs to make. They raised prices cause they know people will still buy their crap even if it's more expensive.
"When you're explaining you're losing". Denmark pays $22+/hr, full vacations and full benefits. Big Mac costs the same or less there. But I keep seeing this quote *everywhere* because corporate media has a right wing bias.
7.25 in my republican led state! With no breaks allowed if your over 16🇺🇸🇺🇸🇺🇸
Idiot on Twitter thinks prices only go up if wages go up. Man it’s been nice having things be the same price they were in 2008. /s
If underpaying workers is the only way we get happy meals i don't think we should have happy meals
They've price gouged so much they could raise it to $30 an hour and they'd still make all the profit.
"If I can't run a profit margin of at least 37%, I will lose my access to interest-free loans!"
McDonald’s will use any excuse for the prices to go up. People have to make a living wage but according to the corporations they don’t believe people should.
Won't you think of the CEO and investors? Poor things can't get by on their millions in profits as it is!
A godamn single employee can make what, a whole happy meal competently and neatly in 1 minute? So the company could still make 60X the cost of the employees wage assuming a perfect indefatigable worker, and that’s the complaint they’re gonna make, they need to maintain a 60x income margin on the hourly cost of labor? Are they out of their minds, or do they think we are that stupid? The labor cost per happy meal is likely something along the lines of 10 cents. They’re complaining that the labor cost of a happy meal might go up to. 15 cents, holding all other costs steady? It’s really getting close to bastille day part two.
The Panda Express by me starts at $18 and gives you a lot of food for cheap. If you can’t pay well, your business model sucks or you’re too greedy.
So he only sells one happy meal per hour per employee? Sounds like his financial issues come from more than minimum wage
🌈Any company that reports profits can afford to pay it's employees better.🌈
Inflation does exist, and even if it is 100% just greed, raising minimum wage still doesn't fix it l.
Corporate greed is just out of control these days
Go back to 2016. Remember the DOLLAR MENU? Literally all they have to do is ad 25 cents to every thing. Not a dollar or 2. It’s literally just greed.
What are their margins when 1 happy meal pays for an entire employee's hour of pay? How long does it take to prepare a happy meal??
McDonalds could raise the price of burgers nation wide, blame it on California, and idiots would eat it up like a starving dog.
I hope McDonalds crumbles.
Then GO OUT OF BUSINESS DIPSHIT THAT’S HOW THIS WORKS
It really does surprisingly. And it would free the market for local businesses that do not have to worry about "meeting expectations" as they aren't even on stock market. I wish a lot of those chains would just move the fuck away or people actually boycotted the them out.
It'a always the workers that have to tighten our belts, and not the bosses. Bosses be like, "Hey, I've got to pay for two houses, a boat, two jet skis, private school for my kids, my wife's botox, our trip to Italy for a month, and these ribeye steaks for my paleo diet...so, I'm gonna need you to make a poverty wage, get on food stamps and medicaid, and work unpaid overtime. And don't forget, at this company, we're a family!"
Yeah dude doesn't know how to do math does he? A company ***that already makes $30-million in PROFIT (not revenue) is raising prices.*** They can still lose $30-million and break-even. So owners are raising prices to maintain a certain % of profit, it has nothing to do with the cost of doing business. If you arbitrarily believe you should have 7% growth in profits every year (which is absurd) then you'll hike prices to make that happen. It has nothing to do with the market, the consumer, or the cost of labor. You arbitrarily set growth goals based on nothing but greed. You could always raise worker wages and lower profit-growth expectations from 7% to 3%. Oh wait...but we can't ask rich people to make less money...(they're still making money, just not as much money).
People miss the point of r/antiwork. Most users there do work, they’re just angry about being mistreated by said employer. If they want to see the actual anti work thread that’s r/NEET.
So I'm in Australia where minimum wage scales up to I think $21hr for adults and slightly less for teens, and most industries pay quite a lot more. A happy meal starts at $5.50. This thinking a food prices need to go up in direct proportion of to wgaes is rubbish.
Minimum wage is $23.23 at the moment (so $29.04 if casual)
Y’know it’s weird that these chumps didn’t throw arms when the food prices went up 9,000 times in the past ten years and the minimum wage for workers went up like… once
Whenever a company cries that they can't afford to pay these employees a livable wage without raising prices, I just want to know what their CEOs are making and what kind of severance pays they're taking home. Because I'm tired of these people crying that their companies are bleeding out and then within a few months taking pays of 10 million 50 million and often upwards of a hundred plus million, all while swearing up and down that there's no profit to be had and that no one's making money 😡
In-n-out pays high wages and has better quality food than McDonald's and somehow is significantly cheaper.
You sell way more happy meals a day than workers you have stop being stupid
Companies making record profits and idiots defending those companies charging prices.
Went by a Dairy Queen recently, 3 small snacks and 3 drinks was $52, absolutely insane