Fact: Big box stores and fast food chains such as Walmart and MacDonalds drive down local salaries. So how do we get salaries up to a living wage when the top execs are skimming profits to pad their own wallets and their stock holders? A recent study indicate that doubling McDonalds employee salaries would only drive up items by 17% (i.e. a Big Mac goes from $3.99 to $4.67). And that is based on doubling everyone's salary including the CEO’s salary (8.75million as of 2012). So there is another possible place to cut, let’s double the bottom employees and then pro-rate everyone else and drive the CEOs salary down to say 2 million. Regardless it’s a significant increase in base wagers for a slight increase in the price of fast food.
Now a Berkeley study indicates that a pay raise for Walmart employees at the bottom of the pay scale to $12 will only cost consumers an average of 46 cents per shopping trip.
So the bottom line is Congress raise the minimum wage or you are fired and you will lose not only your access to power, your salary for doing nothing but also your cushy federal employees health care plan!
regarding: Study: $12 Minimum Wage Would Have Negligible Effect On Walmart Prices
http://www.huffingtonpost.com/2011/04/
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