WSJ: $20 minimum wage coming for California’s fast food workers

Because of math. McDonalds recently doubled the CEO’s pay. It cost $10 million annually to do so. Raising the wage of every employee $1/hr. would cost the company somewhere around $440,000,000 annually. The CEO pay is statistically insignificant to total payroll, let alone total operational expenses.

 

You quoted the word every. Do you know what quotes mean?

 

So are more robots.

 

Geeze. I'm not even sure you understand what these numbers represent at this point.

 

Because what he earned and produced for the company far outpaced his salary and bonuses.

 

If $15 an hour does not allow you to hire a capable workforce at that location then the wage will be increased. If people cannot live close enough to work there for $15 and hour they won't take the job. Or perhaps when the landlord finds out that he can't rent out his low income housing at the current rent he will lower it. Or perhaps the investment company that owns the restaurant will see an investment opportunity to invest in some housing in the area. Or perhaps the market will dictate that that is not a good location for such a business and the capital will be moved to where it does and can grow and create more jobs you know like where all those people live.

The market balances itself when the government stays out of the way trying to play business manager.

 

Except nothing you said is actually true.

 

The fact you or I arnt smashing an grabbing proves my point.
Why do that when honest work pays more, and you stand to lose more?
Rhetorical question.

 

So poverty rate (by country) is defined as the ratio of the number of people (in a given age group) whose income falls below the poverty line; taken as half the median household income of the total population.

So I want to know what poverty line you're using to compare California to Mississippi. The household median income in California is $78,672. The individual median income is $33,719. Mississippi is 46,511 and 25,261 respectively. The Federal poverty level is $14,580 for individuals. That means half of the median household income in California is well above the US Federal poverty level, but would constitute the poverty line if California was its own country. I've already established that California contains more people than many existing countries. Conversely people that earn above half the local median in Mississippi are considered impoverished because they make less than the Federal median.

Why does that matter?

Well, what can you get for that income in Mississippi that you can't get in California? How about a home? 55% of people in California live in owner occupied homes. 68% in Mississippi. The median value of the home in Cali is $573,200. That compares to $133,000 in Mississippi. WOW. No wonder Cali has 30% of America's homeless. How can anyone afford a half a million dollar house on just 34k a year? A 133k house on 46k a year is totally doable. Maybe that's why there's such a higher percentage of home ownership in Mississippi. How about rent? Oops. The rent is twice as high in Cali.

A loaf of bread in Mississippi $1.94. Cali $3.79
A Gallon of milk $3.82 vs $4.47
A dozen eggs $3.01 vs $4.47

Yikes you have to drop a lot of bread for bread in Cali.

How about a bus pass? $36 bucks in Mississippi. $68.08 in Cali.

Is there any metric where you think it's more expensive to live in Mississippi?

Where would you rather be? Poor in Mississippi or poor in Cali? I know which I would choose.

 

no it doesn’t. I don’t live in California and I’m also not a POS

 

I am glad you do understand because after all the understanding here is the sad reality


Poorest state by poverty rate in the country – 8 out of top 10 states are RED state,


Lowest GDP per Capita. Again 8 out of 10 are RED state




Crime rate by Per capita – again 8 out of 10 states are RED state




Homocide rate by per capita. Again 7 out of 10 states are RED state.

 

after all the mumbo jumbo about how much bread cost this is the reality


Poorest state by poverty rate in the country – 8 out of top 10 states are RED state,


Lowest GDP per Capita. Again 8 out of 10 are RED state




Crime rate by Per capita – again 8 out of 10 states are RED state




Homocide rate by per capita. Again 7 out of 10 states are RED state.

 

Oh lord. So words don't work. Maybe pictures will tell you a better story of the difference between poverty in Mississippi vs poverty in California.

https://www.gettyimages.ie/photos/mississippi-poverty

vs

https://www.gettyimages.ie/photos/c...pular&phrase=california poverty&license=rf,rm

Something is different here... Why are all those poor people in Mississippi sitting next to houses?

 

Because their not living in a big city. Plus those homes look abandoned.

 

May be you think US economy is some picture.

CA GDP in 2022 is 3.5 trillion

MISS GDP is 134 billion.

you are right something seriously wrong using picture rather then economic statistic to Masure economic condition. FACT is simple-In America 70% GDP comes from Blue districts and then those money are sent to RED state to keep the lights on. that's ok, i don't mind, as a matter of fact, year after year, we DEMS vote to increase our taxes so we can send those money to RED state to keep our fellow Americans alive. At the end we are all American and we are ok that we pay higher taxes to keep our fellow conservative state survive. Only sad things is there is no F#### gratitude.

 

You've been reading too many books by Ayn Rand and/or Milton Friedman/neoliberalism, and that school of economic thinking.

No, the free market, left to it's own devices, unfettered, totally free from regulation, always results in capital and power flowing to fewer and fewer hands, less competition, more exploitation, more laws created to protect the rich, and inequality grows exponentially, and results in the top 1/10 of 1% owning the larges share of wealth, and results in oligarchical societies ripe for a demagogue to take over. This is happening now,. to America.

Therefore, to preserve justice and democracy the free market must be regulated. But, in the right way, currently, it's not regulated in the right way.

 

"free market, left to it's own devices, unfettered, totally free from regulation"

When has that ever happened?

 

It happens in Utopia.

 

But it "always results in capital and power flowing to fewer and fewer hands"

Always. All the many times it has happened.

 

Free market means that you EARN what you are worth... not what someone decrees you should earn. Free markets allowed Steve Jobs to start in his garage with Bill Gates and both became billionaires. Free market allowed Tom Edison to start as a small town average kid and become rich. Free markets allowed Alexander Graham Bell to start as a starving engineer in a one room flat and become famous. Free markets allowed Bill Moore tostart as an average guy and become rich (he startd UPS... my dad knew him).

 

I hope you realize I was speaking *against* the anti market sentiment expresed by @Patricio Da Silva

 

Totally wrong.

 

Now do it by city instead of states please....

 

WSJ: $20 minimum wage coming for California’s fast food workers

Thereby ushering in a new era of slow food in what once was a fast food restaurant.

 

So what it right?