A Big Mac meal increases from $5.69 to $7.82. Wendy’s Son of a Baconator combo increases from $6.49 to $8.92. Taco Bell’s 3 crunchy tacos combo increases from $4.59 to $6.31. A Whopper meal increases from $6.15 to $8.46. Subway’s turkey breast Footlong increases from $6.50 to $8.94.
2014-09-05T17:32:53Z
Their study also came up with some other effects that would be likely:
Utilizing higher skilled workers to gain efficiency and productivity Substitution of labor with automation Many businesses will close their doors rather than risk so much capital with such a tiny return
?2014-09-05T18:52:00Z
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For those that debunk the fact that prices will rise dramatically let me point out that I am 70 years old. When I took my first job at Minimum wage (1.00 and hour at the time) a new car was around 2000.00 and gasoline at the pump .35 a gallon and you could buy a house for about 19,000.00 By 1968 the minimum went to 1.60 an hour and a new house cost 24,000, gasoline was about .42 and a new car was about 2,800.00 , In 1976 the minimum increased to 2.30 an hour and a home cost 44,000.00 gasoline reached 1.00 a gallon and a new car was around 5000.00 In 2009 when it went to 7.25 the average cost of a house was 216,000 a car 14 to 30,000.00 and gasoline from 1.65 to 4.00 a gallon. Wages go up and prices go up, it is a fact.
A higher minimum wage can result to the following: -fewer employees -fewer hours for current employees or removed perks like tips, free food/parking, etc. -increase in prices of products or services sold -greater purchasing power for workers with the revenue going back to businesses they patronize and products or services they avail of or purchase -decreased interest in college education since minimum wage jobs are paid almost the same or can be more than what jobs requiring college education pay
In relation to the minimum wage issue, here's an interesting report: http://bitly.com/1n4lqIa .
Better than existing hourly wage but not near good enough if it isn't an equal wage/benefit with all people signed on with the business, with the profit, that also works a position within the business, and nothing to those that claim they hold stock in it when they don't because that money is being used for other things. That's a hoax and a racket, imo..because all the business I know that work good are those who don't buy and sell stock with it.
1. Rising food costs 2. Higher rate of unemployment 3. Less jobs available 4. More inflation of the dollar 5. Opening the door to an even higher raise in Minimum wage.