I've read the last few and first few pages, good thread, good points made by both sides... I found out buck cannot do math... $5.25 to $7.25 is not 140% increase. Indeed the larger number is 140% of the smaller, but a 140% increase of 5.25 would be like $13.00/hr. I'd say he knows the difference, just wants to manipulate his language to make his point hit harder, honesty be damned. He is inherently dishonest, no surprise.
Anyway, I fully support a large min-wage for someone with a decent amount of time on the job. Good help is hard to find. But seriously, one has to be pretty worthless to work at mcdonalds. After I got clean I got a job. Had not had one in a long time. Subway and $8.50 an hour it was for me..... For three months. After I showed I regained the ability to hold down a job I got a good job, just recently started it. I even called and cancelled my food stamps. Those folks who bitch about working at mcdonalds for 10 years and still making a crap wage have only themselves to blame. Show a little ambition.
Then again, I don't see for the life of me how those places get remotely competent people to come in at 5am to start making sausage biscuits for what they pay them. And a good portion of the staff are usually competent.
A massive raise would have minimal impact on Mcdonalds. I'm not sure what percentage of their stores are corporate as opposed to franchised. But mcdonalds gets a lot of their money from the entrapanuer (sp) that owns a franchise. I know such a family with 4 mcdonalds stores. They are comfortable, and I would call them upper middle class. But I got a feeling they would still be ok. Mcdonalds would still get their contractually stipulated franchise fees. The suppliers might take a hit. And because burger king and others want to sell burgers too, they couldn't pass it along willy nilly like to the consumer. Prices would likely increase, but something else would absorb the bulk of the extra costs.
The answer isn't a de jure minimum wage, but a de facto maximum wage. Most would agree the golden age of America was the 1950's and 60's. Check out the top marginal tax rates at that time. If it was still in effect, the CEO wouldn't be making $30 million a year like Wal marts does.
