Monday, June 19, 2017

Minimum Wage Increase to $15 : Fast Food Prices Skyrocket!

Living in the fast lane of the 'new world ideology' takes on a different form when the demands for change and transformation strike the heart of those that will be getting the new wage. And it's not just the increased income, short lived, but how those that will be laid off will fare without employment  and who will they look to for help?

The leaders of the movement know exactly what the outcome will be once the new wages become a reality across the nation. The progressive base voters of the 'new world' are mostly democrats who must have subsistence to survive, they will flood the ranks significantly of those who promise more of everything and therefore will vote progressive democrat.

And if that's not enough, everyone that's awake will understand, it won't more then a year or two before the people getting the new wage will be back into the streets wanting more money. $20 per hour? $25?

The new money buys new needs, especially when all that is necessary to get more money is demand it.

In 1 Chart, What Your Favorite Fast-Food Items Would Cost With $15 Minimum Wage
Melissa Quinn / /    

For Americans hitting the drive-thru at their local McDonald’s, a $15-an-hour minimum wage could hit them in their wallets.

According to a January report released by James Sherk, a former research fellow in labor economics at The Heritage Foundation, fast-food prices would rise by 38 percent under a $15-an-hour minimum wage and cause a 36 percent drop in employment. Sherk’s research comes after several cities and states across the country voted to raise their minimum wages, with increases typically phased in over the next five years.

Additionally, several Democrats have advocated a $15-an-hour minimum wage at the federal level, as does Sen. Bernie Sanders, I-Vt., who spoke about the need for an increase to the federal minimum wage while campaigning for president last year.

In his paper, Sherk said that raising the minimum wage would lead to higher labor costs for fast-food restaurants. Restaurant owners operating on already slim profit margins would then need to raise their prices. Those higher menu prices would have a direct impact on customers who frequent fast-food establishments.

Here’s how prices at some of the most popular fast-food restaurants would change with a $15-an-hour minimum wage.


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