General Fast food workers are going up to $20.00 an hour
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Who could have predicted this?
Oh wait. I did 4 or 5 posts ago.
Fuck it. Let California burn. Kick them out of the union.
That's the spirit.
I wonder if you know how much their profit margin was last quarter?
It's 31.83%
Capitalism for thee but for me....
McD's?
And what would happen to their stock price if that profit margin went from 32% to 20%? It would fucking tank.
I live in reality. It's gross - but neverending growth and increased profits are what drive the markets. Knowingly increasing costs without also increasing the sell is capital suicide. So if the market won't bear a higher price - which we are certainly there - the only option is to cut the cost. Hello automation. Goodbye workers.
I don't like the way things are. But it's reality. Again - Thinking corporations will just eat the loss is fairytale bullshit.
It's a never ending race to the bottom I'm afraid.
Unrestrained capitalism is a disaster for the working class. A system that broke in 2007/8 and we had to pay for. Socialism for thee but not for me. Add in A.I and without government intervention the working class are doubly fucked in the work force,
And I can never get my head around folks getting their jimmies rustled about workers in the private sector arguing for a living wage.
I agree with everything except the livable wage comment. Fast food joints should largely be places for teenagers/early 20s folks to earn gas money. Unless you owned the joint, flipping burgers was never a job to support a family. Learn a fucking trade.
With A.I. further muddying up the waters, I'm sure we're heading towards some sort of UBI. To be honest, with all the unemployment, welfare and food stamps we're basically there already. That's why I don't think it will solve anything - but I do think it's coming.
It wouldn't be popular with the GOP, but a solution might be some sort of luxury tax. An escalating scale of net sales and margin dollars that gets hit with an ever-increasing tax rate. Then those dollars fund the UBI for folks under the poverty level. That MIGHT persuade businesses to keep the money in house and pay their workers more since they'd lose it anyway if it went to a bottom line that was too high. You'd also have to manage the disparity of salaries between front line workers and executive/management folks. Again - wouldn't be popular with the laissez faire folks, but you are correct that we are in a race to the bottom with how out of hand things currently are.
And while you have me in a charitable mood, I'd also support eliminating the cap on Social Security. As it is, an individual making $168,600 a year pays the same amount into Social Security as Elon Musk. That's a joke.
But while we are talking about more taxes and government intervention on a company's profits, it can't be discounted that government spending is the biggest issue this country needs to correct.
My name is
@Hauler and I support this message.Hauler 2024
That’s because our free market is a lie. Prices only ever go up, economic growth is the only goal. If you chase eternal growth it’s a zero sum game, and we’re slowly but surely reaching the end of what’s possible in a capitalist free market economy.I agree with everything except the livable wage comment. Fast food joints should largely be places for teenagers/early 20s folks to earn gas money. Unless you owned the joint, flipping burgers was never a job to support a family. Learn a fucking trade.
With A.I. further muddying up the waters, I'm sure we're heading towards some sort of UBI. To be honest, with all the unemployment, welfare and food stamps we're basically there already. That's why I don't think it will solve anything - but I do think it's coming.
It wouldn't be popular with the GOP, but a solution might be some sort of luxury tax. An escalating scale of net sales and margin dollars that gets hit with an ever-increasing tax rate. Then those dollars fund the UBI for folks under the poverty level. That MIGHT persuade businesses to keep the money in house and pay their workers more since they'd lose it anyway if it went to a bottom line that was too high. You'd also have to manage the disparity of salaries between front line workers and executive/management folks. Again - wouldn't be popular with the laissez faire folks, but you are correct that we are in a race to the bottom with how out of hand things currently are.
And while you have me in a charitable mood, I'd also support eliminating the cap on Social Security. As it is, an individual making $168,600 a year pays the same amount into Social Security as Elon Musk. That's a joke.
But while we are talking about more taxes and government intervention on a company's profits, it can't be discounted that government spending is the biggest issue this country needs to correct.
My name is
Hauler 2024
A functional free market also regularly allowed prices to go down, which never happens. When was the last time your rent of electricity bill went down huh? Never. That’s when.
Also tremendous amounts of wealth are being hoarded by a very select few, and you can be cynical and dismissive about it…but it is meaningfully hurting the economy as a whole. Ultra rich holding 10 billion dollars in shares or real estate don’t contribute to the economy.
The problem with this no one is seeing yet is the poorly educated folks that do these jobs are now unemployed and their only option is to turn to crime or prostitution or drugs so we are going to see a boom in crime in the next few months from the unemployed who now have leisure time.
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