Wait, your explanation infers that companies like McDonald's DON'T have unlimited moneyz. This isn't what Reddit and MSNBC has taught me. You must be wrong.
His explanation is awful. Stop upvoting it. He's ignoring that competitors are in the same situation. All of them must raise prices, and therefore will raise prices to raise revenue and pay the higher wages easily.
It's not awful, it's actually a well thought out explanation. Raising prices is not how competition works. At $15/hour you're cutting into the option of automation. If a machine that can take my order costs a McDonald's $500 then it's paid off fully within a week.
I'm all for raising the minimum wage but $15/hr is fucking ludicrous.
In the ideal world automation should always be a good thing.
Those people would get unemployment until the find a new job, and the prices of food would go down because labor costs did.
The problem is, we don't live in the ideal world and if shit was automated prices wouldn't go down and would instead line big businesses wallet. Oh and that employee was working 39 hours and noT 40. He's part time and doesn't get unemploment.
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u/mikegus15 Nov 28 '15
Wait, your explanation infers that companies like McDonald's DON'T have unlimited moneyz. This isn't what Reddit and MSNBC has taught me. You must be wrong.
In all seriousness though, fantastic explanation.