To those who object to raising minimum wage, on the premise that minimum wage workers are ignorant and uneducated and cant get better jobs and dont deserve more pay. (1) When I got my BA from college in NJ in 1977, there were no good paying jobs around so I worked at a department store at minimum wage sweeping floors and running a trash compactor and stocking shelves. (2) Many college grads today, $100,000 or more in debt for their degree, cant find work other than flipping burgers, because a great many once good-paying jobs in the U.S. have been moved from the US to be done by cheap labor in Asia. (3) When the minimum wage was first set at its current $8.00/hour, the price of gasoline was $1 a gallon, Today, due to speculative trading and re-trading of oil futures contracts on Wall Street, the price at the pump is $4 per gallon. So for a workers paycheck to have the same purchasing power at the gas pump, minimum wage would have to be $32/hour. And you think a raise from $8 to $10.50 is too MUCH? (4) For arguments sake, lets say the average $8/hour burger flipper cooks 100 hamburgers per hour. That means he/she is paid 8 cents per burger, on a burger the fast food restaurant sells for $5 each. Put another way, he/she is paid $8/hour gross on work that grosses the restaurant $500 per hour. (5) Most businesses charge at LEAST triple the total of ALL costs involved in their product or service. So assume that when you add up the cost of meat, buns, store rents, taxes, salaries, etc., it totals no more than $1.67 for each $5 burger, or at least $3.33 per burger profit. You have no problem with that, but you object to the burger cookers share of that $5 increasing from 8 cents to 10.5 cents? (6) If the burger flippers pay raise from 8 cents per burger to 10.5 cents per burger gets passed along to you and then tripled per the usual corporate profit formula, that would still add only 7.5 cents to your $5 burger. Would that REALLY hurt you financially?
Posted on: Sat, 28 Jun 2014 04:32:25 +0000
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