Democrat fundamental transformation of America in yet another socialist experiment

M

marke

Well-known member
Enemies of God cannot trust God to protect them from evil and provide for them so they turn to big government socialism, even though big government socialism lacks liberties, lacks prosperity, lacks freedom, lacks justice, and lacks common sense. We are now in the 9th month of the illegitimate democrat control of the government, and things just keep getting worse every day.

www.theblaze.com

McDonald's jacks up menu prices to survive rising wages, labor shortage, supply chain crises under Biden | Blaze Media

McDonald's is significantly hiking menu prices this year in order to keep pace with rising wages for employees and the costs associated with America's labor shortage and supply chain crises, according to the Wall Street Journal.What are the details?The fast-food mega-chain said it's struggling...
www.theblaze.com www.theblaze.com

McDonald's is significantly hiking menu prices this year in order to keep pace with rising wages for employees and the costs associated with America's labor shortage and supply chain crises, according to the Wall Street Journal.

What are the details?​

The fast-food mega-chain said it's struggling to recruit enough employees to quickly serve customers and keep restaurants fully open, despite offering higher pay to workers.
Executives reportedly told the Journal they have raised menu prices in the U.S. by approximately 6% in 2021 in comparison to last year and plan to keep prices elevated for at least the remainder of the year.
"That's because in McDonald's U.S. restaurants, wages this year are up at least 10% as of now and supply costs for things such as food and paper are anticipated to increase 4%," the Hill reported.
 
annabenedetti

annabenedetti

like marbles on glass
marke said:
Oh? Business drops off due to price increases as a result of Bidenomics and yet the democrats still stupidly claim nobody will be hurt, the economy will not be damaged, and every dime spent will not cost anyone a cent.
Click to expand...

Which.... has nothing to do with the fact that 10% wage hike only impacts 5% of McDonald's restaurants.
 
M

marke

Well-known member
annabenedetti said:
Federal minimum wage, 2009: $7.25
Federal minimum wage, 2021: $7.25


Interesting look at which states have a higher than Federal minimum wage and which don't.

State Minimum Wage Laws​

Click to expand...
annabenedetti said:
Federal minimum wage, 2009: $7.25
Federal minimum wage, 2021: $7.25


Interesting look at which states have a higher than Federal minimum wage and which don't.

State Minimum Wage Laws​

Click to expand...
Minimum wage laws are a product of socialism, not the free market, and socialism does not grow economies. Socialism destroys freedom, prosperity, and businesses.
 
annabenedetti

annabenedetti

like marbles on glass
marke said:
Can Biden somehow avoid blame for economic depression because 10% of wage hikes only impact 5% of McDonald's restaurants?
Click to expand...

Your OP doesn’t give a complete picture, but never fear, I’m happy to be of assistance! 😊

Unfortunately I can’t help you with your BDS. ☹️
 
G

Gary K

New member
Banned
M

marke

Well-known member
ffreeloader said:
I can point you towards real economic understanding of the minimum wage law. It might help you with your EDS. Study chapter 19.

archive.org

Henry Hazlitt Economics In One Lesson : Free Download, Borrow, and Streaming : Internet Archive

Henry Hazlitt Economics in One Lesson
archive.org
Click to expand...
Here is a quote from the book:


The first thing that happens, for example, when a law is passed that no one shall be paid less than $30 for a forty-hour week is that no one who is not worth $30 a week to an employer will be employed at all. You cannot make a man worth a given amount by making it illegal for anyone to offer him anything less. You merely deprive him of the right to earn the amount that his abilities and situation would permit him to earn, while you deprive the community even of the moderate services that he is capable of rendering. In brief, for a low wage you substitute unemployment. You do harm all around, with no compara- ble compensation.
The only exception to this occurs when a group of workers is receiving a wage actually below its market worth. This is likely to hap- pen only in special circumstances or localities where competitive forces do not operate freely or adequately; but nearly all these special cases could be remedied just as effectively, more flexibly, and with far less potential harm, by unionization.
It may be thought that if the law forces the payment of a higher wage in a given industry, that industry can then charge higher prices for its product, so that the burden of paying the higher wage is merely shifted to consumers. Such shifts, however, are not easily made, nor are the consequences of artificial wage raising so easily escaped. A higher price for the product may not be possible: it may merely drive consumers to some substitute. Or, if consumers continue to buy the product of the industry in which wages have been raised, the higher price will cause them to buy less of it. While some workers in the industry will be benefited from the higher wage, therefore, others will be thrown out of employment altogether. On the other hand, if the price of the product is not raised, marginal producers in the industry will be driven out of business; so that reduced production and conse- quent unemployment will merely be brought about in another way.

Minimum wage laws disrupt free markets and drive down the competitive forces that make markets work efficiently, fairly, and productively.
 
G

Gary K

New member
Banned
marke said:
Here is a quote from the book:


The first thing that happens, for example, when a law is passed that no one shall be paid less than $30 for a forty-hour week is that no one who is not worth $30 a week to an employer will be employed at all. You cannot make a man worth a given amount by making it illegal for anyone to offer him anything less. You merely deprive him of the right to earn the amount that his abilities and situation would permit him to earn, while you deprive the community even of the moderate services that he is capable of rendering. In brief, for a low wage you substitute unemployment. You do harm all around, with no compara- ble compensation.
The only exception to this occurs when a group of workers is receiving a wage actually below its market worth. This is likely to hap- pen only in special circumstances or localities where competitive forces do not operate freely or adequately; but nearly all these special cases could be remedied just as effectively, more flexibly, and with far less potential harm, by unionization.
It may be thought that if the law forces the payment of a higher wage in a given industry, that industry can then charge higher prices for its product, so that the burden of paying the higher wage is merely shifted to consumers. Such shifts, however, are not easily made, nor are the consequences of artificial wage raising so easily escaped. A higher price for the product may not be possible: it may merely drive consumers to some substitute. Or, if consumers continue to buy the product of the industry in which wages have been raised, the higher price will cause them to buy less of it. While some workers in the industry will be benefited from the higher wage, therefore, others will be thrown out of employment altogether. On the other hand, if the price of the product is not raised, marginal producers in the industry will be driven out of business; so that reduced production and conse- quent unemployment will merely be brought about in another way.

Minimum wage laws disrupt free markets and drive down the competitive forces that make markets work efficiently, fairly, and productively.
Click to expand...
Henry Hazlitt's writings on economic issues are clear, concise, and very well thought out.
 
G

Gary K

New member
Banned
Here is the opening two paragraphs of Hazlitt's book. In these two paragraphs he not only demonstrates the cause of the multitude of the muddled fallacious thinking on economics he explains the very root of why all the confusion abounds today about the plandemic.

Economics is haunted by more fallacies than any other study known to man.
This is no accident. The inherent difficulties of the subject
would be great enough in any case, but they are multiplied a thou-
sand fold by a factor that is insignificant in, say, physics, mathematics,
or medicine—the special pleading of selfish interests. While every
group has certain economic interests identical with those of all groups,
every group has also, as we shall see, interests antagonistic to those of
all other groups. While certain public policies would in the long run
benefit everybody, other policies would benefit one group only at the
expense of all other groups. The group that would benefit by such
policies, having such a direct interest in them, will argue for them plau-
sibly and persistently. It will hire the best buyable minds to devote their
whole time to presenting its case. And it will finally either convince the
general public that its case is sound, or so befuddle it that clear think-
ing on the subject becomes next to impossible.

In addition to these endless pleadings of self-interest, there is a sec-
ond main factor that spawns new economic fallacies every day. This is
the persistent tendency of men to see only the immediate effects of a
given policy, or its effects only on a special group, and to neglect to
inquire what the long-run effects of that policy will be not only on that
special group but on all groups. It is the fallacy of overlooking second-
ary consequences.
Click to expand...
 
G

Gary K

New member
Banned
Here is another chapter from Henry Hazlitt's book for you to read anna. It will really help with your EDS.

It's chapter 4. It's titled Public Works Means Taxes. It will really help you get over your economic fallacies.
 
You must log in or register to reply here.
Top