The meme is that increasing wages doesn't translate into a substantial increase in costs for the consumer.
What people tend to forget is that the company hands out huge pay packets to the CEO and upper management, so I don't think finances are an actual issue for them. Even putting aside 1 million from their multi billions per year in profit would increase wages by $14 for near 75000 staff. That's insane.
Fair point on the interpretation. That interpretation is more reasonable, although still debatable, but I still feel that isn't how the meme is presenting it. I think it is being less than 100% honest.
Also, $1M will only support 75,000 staff for 1 hour. If we were talking about giving everyone a $14/year wage increase, that would work. Given we have 37,000 stores and I would assume that each store employs probably at least 5 people full time - being conservative here - without any overtime pay that would be 3,700,000,000 hours of labor X $14 = $51.8B/year increase in labor costs for McDonalds. Since the company had under $21B in revenues last year, I think we can see that this isn't about a CEO taking a paycut.
Having said that, I am shocked it is only $21B/year in revenue for McDs. That's less than $600,000/year in revenue per store on average. Something seems off there.
Also, they listed 375,000 employees in 2016, but I'm sure those aren't all full-time so the numbers I suggested above may be a little lower than the actual.
These are the times I am happy to live as far away from that border as possible. It’s a terrible thing for our nation, but those states close to the border obviously have to deal with the more direct consequences. All the Biden administration cares about is getting more bodies in this nation to cast illegal votes.
Still, a lot of the counties that border the Mexican border continue to vote for politicians who promote more immigration. Either the legal citizens in those areas love the immigrants or...maybe there is some shady voting going on there. But who knows?
Those CEO's that create the success can also just go elsewhere or do other venture's. This is why communist policies turn countries to shyt and more people become poor.
This is more true than people realize. I've sold real estate for 14 years. I've done OK but not great and I've dealt with a wide range of indivuals at all levels of wealth. No billionaires, but certainly 100's of millionaires. But it wasn't until the past year when a high wealth individual partnered with me and really started to let me into his world that I started to realize a lot. Nothing nefarious, just that money creates a new situation.
For instance, one of the things I really wish I had grasped sooner is that if I had someone selling a $1M property before, and I would present it to a buyer that it would have been a good investment for, they would invariably ask, "Well, if this is such a good investment, why are they selling it?"
And I KNEW the answer but I didn't realize the extent of things before. The answer is, the person selling is in a different situation and this isn't a good investment for him, given his abilities. But for you or I, it is about the best we can do in our situation.
For instance, I am starting to see how I would look at multi-family rentals as being a potential investment for my income level, but for someone who can invest $20M - that's a horrible investment and a waste of their time to manage. An extra $2000 a month would be a good investment for me, but for that guy it isn't worth the hassle that comes with it.
People with resources can leverage their time in a different way than people without. And this gets back to your working for an hourly wage discussion...
All of a sudden the deaths matter now. Kinda funny how that works. Kinda like blaming the economy on Obama which he inherited from Bush
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Yeah, what I really liked was the article that lead with the headline, "Stock market sees the highest increase during the period between the election and the inauguration ever!"
The spin obviously being that Biden is our savior and no mention of the actual president during that time.
I don't think there is EVER a liberal president that doesn't blame their lack of performance on the previous president. Clinton at least performed so he didn't have to blame Bush - he actually continued a lot of the same policies as Reagan/Bush. Obama, total sh*tshow so of course it was the fault of the guy who was no longer in control. Now, Biden will claim he inherited the worst economy from Trump, take credit for the dramatic increase in the stock market that occurred under Trump before he took office, and the dogma will continue.
There is a reason Obama didn't want to support Biden until he absolutely had no choice. Biden is going to RUIN Obama's legacy. All of this, "Trump didn't create the economy, it was Obama's doing" is going to be thrown out the window once Biden screws it all up, and Trump is going to look like a shining light between two dark holes.
As far as the deaths...I am not sure what your issue is. Do the deaths suddenly NOT matter? The overarching point is that it was OK to print headlines when it was about 1 president, so isn't it OK to print the same headlines for the new president? If promoting the death counts was such a great idea then, why is it not now?
