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Open thread August 9, 2013

Dan Crawford | August 9, 2013 8:42 am

Tags: open thread Comments (3) | Digg Facebook Twitter |
3 Comments
  • Denis Drew says:
    August 9, 2013 at 9:39 am

    FAST FOOD PLACE IN DETROIT PAYS $12/HR W/O A MINIMUM WAGE HIKE:

    http://act.aflcio.org/salsa/track.jsp?v=2&c=WDgctpJriKV0nSpQeSAPUBXvicibqFwu

  • Denis Drew says:
    August 9, 2013 at 12:05 pm

    “It may surprise some, but McDonald’s France—called MacDo by the locals—is the highest-grossing McDonald’s market outside of the United
    States (despite the fact that worker pay, a recent source of controversy in the United States, starts around $12 an hour—France’s minimum wage).”

    http://www.slate.com/articles/news_and_politics/roads/2013/08/mcdonald_s_global_expansion_the_american_fast_food_chain_has_become_an_unexpected.html

  • Denis Drew says:
    August 9, 2013 at 5:58 pm

    The bottom 50% of America’s workforce now takes 12% of overall income. If the federal minimum wage is raised to $15/hr that will add 3.6% direct inflation.

    $15/hr being today’s median wage, half the workforce, 70 million employees receiving an average $8,000/yr raise would add $560 billion to the cost of $15.8 trillion dollar economic output = only 3.6%.

    It is hard to believe that the products and services produced by half of the American workforce (70 million people!) would no longer be in demand over a 3.6% increase in overall prices.

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