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If you compare menu prices at fast food chains in areas with high minimum wages (i.e. Seattle's $15) vs areas with low minimum wages, (i.e. the US's federal ~$8
by kevingadd 6y ago
If you compare menu prices at fast food chains in areas with high minimum wages (i.e. Seattle's $15) vs areas with low minimum wages, (i.e. the US's federal ~$8) the cost of items is higher but not as high as you might think.
You can see some comparison data here, or find other sources (I don't have any bookmarked to dig up, I last did the research on this a few months ago...) https://www.restaurantbusinessonline.com/financing/why-big-mac-costs-more-seattle-austin https://www.restaurantbusinessonline.com/financing/why-big-m...
- Aunche 6y agoThat's just a wage increase from a single point in the supply chain. With a national minimum wage increase, all of the incremental wage incremental wage increases get passed to the consumer.
- kristopolous 6y agoOr perhaps deceases the waste and abuse of the corporation. Maybe they don't do the executive island getaway or have the company condo in the Swiss alps. They'll jack up the prices for any reason, don't get me wrong, but it's not because they have to pay people more. It's because they see it as an excuse to pay themselves more.