From some cursory reading about Seattle a while back, a measurable amount. Isn't that Econ 101 though?
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Cursory reading in Washington DC was that prices increased less than 10% for a 2X increase in minumum wage
Thats also econ 101, 10% increase across every item sold more than covers the 2x increase in workers pay because theres more sales than workers
e.g. Mcdonalds workers makes an additional 7.50 an hour. That worker processes 150 orders in that hour, each with a 10% increase in cost which roughly equates to .30-.50 cents per order. Mcdonalds not only replaces the 7.50 differential, but makes an additional 37 dollars in profit on top of it.
Jehannum
Puts the "pro" in procrastination
Minimum wage in Utah is 7 something. If you offer less than 12 bucks an hour you have no employees because somewhere else will pay them that. At least here in St George. I imagine some of the more rural places can still get away with offering less.
Even in fast food, you're making a lot of assumptions there. And it affects *every* industry in the state. Obviously its much easier to absorb it if you're running on fat margins, but (I'm also guessing here) that's probably the exception not the rule.
Mr. Argumentor
I fab shitboxes and shitbox accessories.
Delineation between product oriented and service jobs. There are other jobs (warehouse worker) where the product can be increased in price (or shipping/handling), but there are also some, where there is no increase possible (construction/roadwork)
Is the 150 orders an hour a hard number? What if it turns out to be 60 (which is likely the best case scenario for someone working the drive thru)? Ouch. Or what about the guy that mops the floor? Or any other industry?
IIRC, when they were contributing to the stae’s unemployment claims, they set the limits on who was eligible to receive it a lot of people got it who didn’t need it. It needed to go to people who would spend it and inject the economy resulting in jobs being kept, and a reverse to “trickle down” by the money making its way back to the “job creators” through spending by the masses. A lot of people were able to take Uncle Sam’s contribution and put it directly into their 401k, which isn’t what it was for.
Their reasoning for not setting the eligibility limits lower was that it would take too long to figure out who got it, and they needed to get the money out ASAP.
average number of employees working at any one time is 8 per labor statistics. So mickey d's has to make an additional 500 bucks a day to break even.
Average number of orders per day is 1581 (62,000,000 orders a day/ ~40k franchises)
So each order has to be 33 cents more expensive to break even.
Average number of orders per day is 1581 (62,000,000 orders a day/ ~40k franchises)
So each order has to be 33 cents more expensive to break even.
Which is why they want to privatize prisons, social security, and student loans. Lobbyists pay politicians good money to get control of those things to profit from it. Why let the government handle it cheaper when a private company can relieve them of the hassle for a little extra tacked on? And while the tacking is happening, a little palm greasing takes place and people get rich.
The FBI has a building that’s crumbling. There was a deal in place with a contractor who was going to build a new building in a different location in exchange for the old building and property it sits on. Sounds like a great deal, huh? Along comes Trump, who automatically kills the deal because the contractor intended to build a new hotel where the crumbling FBI building still sits to compete directly with Trump’s “post office” hotel in DC.
The FBI is till in the crumbling building, and Trump is still profiting from his DC hotel nicely. Politics and lobbying is nasty business.
The only reason prices would raise is because the profiteers want the profit more than they want other people to eat. So, we are in agreement.
the J. Edgar Hoover building is a giant piece of shit (and in a lousy location for a workforce to commute to). I was looking forward to that being moved, but no dice.
speaking of pieces of shit, J. Edgar Hoover was one too. They should not name the new building after him
Which States Rely the Most on Federal Aid? | Tax Foundation
While state-levied taxes are the most evident source of state government revenues, and typically constitute the vast majority of each state’s general fund budget, it is important to bear in mind that they are not the only source. State governments also receive a significant amount of non-general...
taxfoundation.org
2021’s Most & Least Federally Dependent States – SIPA News
sipanews.fiu.edu
The top ten in this one:
Return on Statehood: How Much Value Every State Gets From the Federal Government
State budgets are in trouble due to COVID-19. Even wealthier states are facing steep budget cuts and will need to increasingly rely on federal funding to offset revenue shortfalls.
www.moneygeek.com
A return on investment? California has between the fifth and sixth largest economy in the world. Without their input, the US would rank somewhere around Bolivia on the economic contribution table:
11 states pay more in federal taxes than they get back — here's how every state fares
Are you paying more in federal taxes than what you receive back in federal benefits? We took a look.
www.businessinsider.com
That’s why I spent my stimulus check on construction even though I didn’t need to. I wanted to save it but it’s still a win for me cause I improved the value of my home and the kids got a cool swing set. Now my contractor can buy other stuff and literally multiple the value of the stimulus.
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