this post was submitted on 03 Apr 2024
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This is the wrong argument and I'm tired of it. The real argument here is - McDonald's et al don't need to raise prices because of the new wage law. They choose to raise prices rather than cut executive pay, or adjust profit margins, or make any other kind of internal adjustments.
This discussion needs to stop being "x raised prices because they had to and government bad" and start being "Billion-dollar-profit company is screwing over consumers because they can".
I wish there was a goddamn economic calculator. Revenue minus (operating costs + re-investment + R&D) then divide it amongst all employees. Let us rank companies based on how bad that number is vs what the employees are actually paid.
Not an economist.