4 ms·
It is very much incorrect to put $15/hr wages on that list. The minimum wage is lower than it ever has been, inflation adjusted, and back when the minimum wage
by gnu8 6y ago
It is very much incorrect to put $15/hr wages on that list. The minimum wage is lower than it ever has been, inflation adjusted, and back when the minimum wage was actually that high, it didn’t blow up fast food prices or kill small businesses like everyone seems to fret over today. It is obviously not a problem to pay everyone a minimum wage of $15/hr nationally, and the only people who think it would be are extremely wealthy shareholders who would see slightly less capital flowing into their own coffers if they had to share any with the rabble.
A more likely culprit is the number of people walking around SF who pull down $350k+/yr, since they are willing and able to buy $17 salads, as well as overpriced real estate. It all comes down to the amount of money in flux in that location.
- waiseristy 6y agoI didn't put the 15$/hr min wage in my comment to deride it, I think it should be even higher in metro areas. But it is no secret that 30-40% of operating costs of a restaurant are employee wages. It is definitely a factor on the price charged to customers. Restaurants (unless you are some michelin star joint) also don't really have the freedom to charge "whatever the customer is willing". Between rent, wages, and local competition, you can pretty much guarantee that there will be an average 10% profit margin in whatever area you are at. IMO, the biggest culprit here is the astronomical rent prices charged to these places sucking out all of the extra capital gained by these 17$ salads
- yokaze 6y agoThis. But it would require some kind of introspection to see that the extraordinary salary which caused them to move there in the first place might be actually a contributing factor for a lot of the problems they are complaining about.