Wednesday, July 31, 2013

Doubling McDonalds' Paychecks Wouldn't Raise Menu Prices Much

Not McDonald's food, but one of several facts HuffPo
says the fast food industry doesn't want you to know.
Remember awhile back when the Papa John's founder (John McDoucherson, I think) balked at "ObamaCare," saying it would "force" him to raise the price of his pizzas by 14 cents each? And most rational people thought, "Wow! For 14 cents, the pizza workers can have health care? Great!" Well, except conservatives who for some reason don't want that. Anyway, the point is, nobody is going to cancel their pizza order over 14 cents, and look at all the good that would do.

Presently, McDonalds (and Walmart and others) are all in a twist over raising the minimum wage. Even though doing so wouldn't necessarily hurt business. In fact, it would create a larger base of consumers who can--you know--afford to buy things. What's more, given the big corporations' multi-billion dollar profits, they actually could afford to raise all of their workers' salaries, and still make a profit, just less profit. Or, they could raise their prices. But really, not all that much. Check out the story excerpted below.
And in a sidebar, I'd love a clarification on something. We hear, virtually every quarter, that Exxon-Mobil, BP and Shell have had record-breaking profits. In fact the biggest profits in the history of man. McDonalds makes billions too. A number of companies do. And then there's Walmart, with its handful of very, very lucky heirs. They rake in tens of billions in profits per year, per person! What is it to Alice Walton if she makes $10 billion this year, rather than $20 billion, but her employees can afford to shop in her own store? I'd seriously like to know, where do all of these multi-billions in profits go anyway? How much can Sheldon Adelson, for example, spend before he crumbles to dust? Why do the mega-rich try so hard to get even more mega-rich, while their employees can barely scrape by?

Doubling McDonald's Salaries Would Cause Your Big Mac To Cost Just 68¢ More: Study

McDonald's can afford to pay its workers a living wage without sacrificing any of its low menu prices, according to a new study provided to The Huffington Post by a University of Kansas student. . .

Read more at: Huffington Post

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