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In short - minimum wage increases help the poorest who actually make minimum wage, dont affect the corporations, but will hollow out the middle class who now have to pay 10% more for big macs and many other goods without getting any increases (and may even see wage increases stagnate)

likefunny

It says pretty clearly that researchers found a 10% minimum wage increase leads to 1.4% price increase. Going from a $7.25 minimum to $15 minimum wage increase would be over 10% price increase. Simplifying things for sure, as theres a lot more complexity to the situation but its absurd to think that we can eat our cake and have it too

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Have you been to a mcdonald's in ny? They're already replacing workers and increasing prices which is what we said would happen.

likefunny

Have you been to a McDonald's in Texas....same thing. It's as if it's not related to the minimum wage.

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They’ll do fine because they will just replace their remaining workers with machines. They’ll only need like 2 people per store to flip burgers and make fries

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They explored automation and literally said there was no observed increase related to increased wages.

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I went to a McDonalds on a trip thru upstate NY last weekend and the entire process is now automated. The only workers are preparing the food, they even removed the cash registers - so there’s no way they have as many employees now as they did a year ago. I think the rona just sped up the transformation.

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Big Corporations win again. 💰💰💰 “Mom-and-pop operators don't have the scale and resources of McDonald's.”

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They are part of the system. Hey if you want chains to win all the power to you.

Jeez, taco bell basically gives their food away. They will all be fine.

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Raising min wage is a WIN for the economy because the poorest among us DON'T SAVE. They SPEND. EVERY PENNY. Come on, this ain't rocket science.

smart

I am in support of raising the minimum wage...but this is probably the worst argument for why we should raise it. We want to raise wages so people spend more money on things. Raising it for people to save, especially with interest rates so low, would really do nothing to spur the economy.

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