Biden says he'll raise all the money needed by taxing anyone making over $400,000 a year.

[Oldestyle]

Has Daniel ever really answered a question put to him in this string? With something that even vaguely resembled a cogent thought?

Nothing the clueless and Causeless right wing can understand, apparently.

Does anyone understand what you post, Daniel? Do YOU? Most of the time, quite frankly, it's gibberish. You remind me of students I've had that thought if they filled their work with big words and confused prose that it would obscure the fact that they didn't know what they were talking about.

What is obvious is that right wingers are clueless and Causeless about economics and only have red herrings and straw men for their arguments.

Raise the minimum wage until the Poor pay their fair capital share of the tax burden. It should be easy for anyone but right wingers to understand.

Ah, Daniel? What are you referring to when you talk about "fair capital share"? Do you know what the term capital share denotes?

I am not one who only has diversion instead of valid arguments. Answer the question.

According to some studies the minimum wage should be eighteen dollars an hour after accounting for inflation.

So you don't have a clue what the term capital share means...do you? LOL Why do you do that? You're just talking nonsense and it's obvious you don't know what most of the terms you use mean!

 

[charwin95]

There will be no problem since he can promise that GDP growth will be 5% a year...

What ever happened to Trumpâs boast of 4%, 5% or even 6% growth?

Whatever happened to Trump’s boast that the U.S. economy would be able to grow not just at 3% but at “4%, 5% or even 6%” a year?

www.marketwatch.com

So how does Biden pay for it...

Reverse the Trump tax cut for rich and corporates... $1.5 trillion
Increase tax on Rich (> 400k per year)... $1 Trillion.

Borrow infrastruction expense and pay off over increased production (Capital expendeture)... $1.3 trillion

Education pays off in increased tax revenue. It also drives an economy...

The return to investment in education - OECD

Data and research on education including skills, literacy, research, elementary schools, childhood learning, vocational training and PISA, PIACC and TALIS surveys., Growing advantages for the better educated and likely continuing high levels of unemployment as economies move out of recession...

www.oecd.org

Housing plan will also drive economic activity in the construction market... Homeless are expensive cost on a city...

Combating opioid epidemic: Borrow the money, Cutting funding to poor will just make this worse...


This is all better than ploughing the money in to hole in the dessert. $2.4 billion.

Financial cost of the Iraq War - Wikipedia

en.wikipedia.org

.

You wrote: Increase tax on Rich (> 400k per year)... $1 Trillion How do you figure that? YOU have NOTHING to prove your statement. JUST a guess... I ON the other hand have a link... follow the link!

the government estimates that raising the tax rate on this small group will raise about $600 billion in new revenues over the next decade.

Who Actually Earns $400,000 Per Year?

The Poor are a larger group. Raise the minimum wage until the Poor pay enough in taxes.

Here is a simple example of what raising the minimum wage means IF YOU owned a restaurant.
Note the 2nd largest % of revenue (gross sales) is salaries and wages..@ 15.1%
So if the salaries/wages go up just 5%... there is no profit...therefore no business!
View attachment 379079

So? Increase the cost of the meals or do you think that people will stop eating at restaurants?

You are the owner of a restaurant. You have choice. Raise food prices or do this?
Make the decision because the chances of keeping 100% of your regular customers if you raise the prices 25% to cover the cost of minimum wage. Or this. Which would you prefer?
View attachment 379197

This was discussed many times over and over in this site.
Menu prices are going up with or without the increase of minimum wages. Im in the medical instruments so minimum wages is not an issue. I don’t pay my lowest entry level MW start with $16+ an hour like maintenance. And so are my competitors.

My relatives own seafood restaurants restaurants in Seattle area. They have not paid minimum wages for years. Why? Like me employees are the best assets of a company. You take care of them and they will show happiness and loyalties to your company. Happy employees happy company.
Look at Costco.



On top of that you do NOT increase prices of your menu to 25%. Nobody does that. You don’t do that if you know, understand or own a business.

 

[Nostra]

Poor Danny Boy............all fluff...........no substance.

Direct labor is included in gross profit, 3.6 percent in the list. For a fast food place that would be most of your minimum wage help.

The 15.1 percent wages and salaries cost would be indirect labor and include everyone else.

Direct labor is included in gross profit

 

[Oldestyle]

Has Daniel ever really answered a question put to him in this string? With something that even vaguely resembled a cogent thought?

Nothing the clueless and Causeless right wing can understand, apparently.

Does anyone understand what you post, Daniel? Do YOU? Most of the time, quite frankly, it's gibberish. You remind me of students I've had that thought if they filled their work with big words and confused prose that it would obscure the fact that they didn't know what they were talking about.

What is obvious is that right wingers are clueless and Causeless about economics and only have red herrings and straw men for their arguments.

Raise the minimum wage until the Poor pay their fair capital share of the tax burden. It should be easy for anyone but right wingers to understand.

Ah, Daniel? What are you referring to when you talk about "fair capital share"? Do you know what the term capital share denotes?

I know employers can expense labor costs. So, if the cost of labor goes up, so does the employer's ability to expense those costs and reduce their tax burden.

Daniel...THAT has nothing to do with capital share! Do yourself a favor. If you don't know what something means...don't try and pretend that you do!

 

[Nostra]

There will be no problem since he can promise that GDP growth will be 5% a year...

What ever happened to Trumpâs boast of 4%, 5% or even 6% growth?

Whatever happened to Trump’s boast that the U.S. economy would be able to grow not just at 3% but at “4%, 5% or even 6%” a year?

www.marketwatch.com

So how does Biden pay for it...

Reverse the Trump tax cut for rich and corporates... $1.5 trillion
Increase tax on Rich (> 400k per year)... $1 Trillion.

Borrow infrastruction expense and pay off over increased production (Capital expendeture)... $1.3 trillion

Education pays off in increased tax revenue. It also drives an economy...

The return to investment in education - OECD

Data and research on education including skills, literacy, research, elementary schools, childhood learning, vocational training and PISA, PIACC and TALIS surveys., Growing advantages for the better educated and likely continuing high levels of unemployment as economies move out of recession...

www.oecd.org

Housing plan will also drive economic activity in the construction market... Homeless are expensive cost on a city...

Combating opioid epidemic: Borrow the money, Cutting funding to poor will just make this worse...


This is all better than ploughing the money in to hole in the dessert. $2.4 billion.

Financial cost of the Iraq War - Wikipedia

en.wikipedia.org

.

You wrote: Increase tax on Rich (> 400k per year)... $1 Trillion How do you figure that? YOU have NOTHING to prove your statement. JUST a guess... I ON the other hand have a link... follow the link!

the government estimates that raising the tax rate on this small group will raise about $600 billion in new revenues over the next decade.

Who Actually Earns $400,000 Per Year?

The Poor are a larger group. Raise the minimum wage until the Poor pay enough in taxes.

Here is a simple example of what raising the minimum wage means IF YOU owned a restaurant.
Note the 2nd largest % of revenue (gross sales) is salaries and wages..@ 15.1%
So if the salaries/wages go up just 5%... there is no profit...therefore no business!
View attachment 379079

So? Increase the cost of the meals or do you think that people will stop eating at restaurants?

You are the owner of a restaurant. You have choice. Raise food prices or do this?
Make the decision because the chances of keeping 100% of your regular customers if you raise the prices 25% to cover the cost of minimum wage. Or this. Which would you prefer?
View attachment 379197

This was discussed many times over and over in this site.
Menu prices are going up with or without the increase of minimum wages. Im in the medical instruments so minimum wages is not an issue. I don’t pay my lowest entry level MW start with $16+ an hour like maintenance. And so are my competitors.

My relatives own seafood restaurants restaurants in Seattle area. They have not paid minimum wages for years. Why? Like me employees are the best assets of a company. You take care of them and they will show happiness and loyalties to your company. Happy employees happy company.
Look at Costco.



On top of that you do NOT increase prices of your menu to 25%. Nobody does that. You don’t do that if you know, understand or own a business.

So you are saying there should be no minimum wage.

 

[danielpalos]

Has Daniel ever really answered a question put to him in this string? With something that even vaguely resembled a cogent thought?

Nothing the clueless and Causeless right wing can understand, apparently.

Does anyone understand what you post, Daniel? Do YOU? Most of the time, quite frankly, it's gibberish. You remind me of students I've had that thought if they filled their work with big words and confused prose that it would obscure the fact that they didn't know what they were talking about.

What is obvious is that right wingers are clueless and Causeless about economics and only have red herrings and straw men for their arguments.

Raise the minimum wage until the Poor pay their fair capital share of the tax burden. It should be easy for anyone but right wingers to understand.

Ah, Daniel? What are you referring to when you talk about "fair capital share"? Do you know what the term capital share denotes?

I am not one who only has diversion instead of valid arguments. Answer the question.

According to some studies the minimum wage should be eighteen dollars an hour after accounting for inflation.

So you don't have a clue what the term capital share means...do you? LOL Why do you do that? You're just talking nonsense and it's obvious you don't know what most of the terms you use mean!

yes, i do. nuances dear right winger. capital share and tax burden are not unrelated in the statement. context must mean something. but, then you are a right winger who loves to sacrifice the End to the Means.

 

[danielpalos]

Poor Danny Boy............all fluff...........no substance.

Direct labor is included in gross profit, 3.6 percent in the list. For a fast food place that would be most of your minimum wage help.

The 15.1 percent wages and salaries cost would be indirect labor and include everyone else.

Direct labor is included in gross profit

How clueless and Causeless of you. No wonder it seems soo dificult to take right wingers seriously about any Thing serious.

Direct labor costs are part of cost of goods sold as long as the labor is directly tied to production. As a result, direct costs are factored into gross profit through COGS.--https://www.investopedia.com/ask/answers/101314/does-gross-profit-include-labor-and-overhead-costs.asp#:~:text=Direct%20labor%20costs%20are%20part,costs%20are%20included%20in%20COGS.

 

[Nostra]

Poor Danny Boy............all fluff...........no substance.

Direct labor is included in gross profit, 3.6 percent in the list. For a fast food place that would be most of your minimum wage help.

The 15.1 percent wages and salaries cost would be indirect labor and include everyone else.

Direct labor is included in gross profit

How clueless and Causeless of you. No wonder it seems soo dificult to take right wingers seriously about any Thing serious.

Direct labor costs are part of cost of goods sold as long as the labor is directly tied to production. As a result, direct costs are factored into gross profit through COGS.--https://www.investopedia.com/ask/answers/101314/does-gross-profit-include-labor-and-overhead-costs.asp#:~:text=Direct%20labor%20costs%20are%20part,costs%20are%20included%20in%20COGS.

 

[danielpalos]

Has Daniel ever really answered a question put to him in this string? With something that even vaguely resembled a cogent thought?

Nothing the clueless and Causeless right wing can understand, apparently.

Does anyone understand what you post, Daniel? Do YOU? Most of the time, quite frankly, it's gibberish. You remind me of students I've had that thought if they filled their work with big words and confused prose that it would obscure the fact that they didn't know what they were talking about.

What is obvious is that right wingers are clueless and Causeless about economics and only have red herrings and straw men for their arguments.

Raise the minimum wage until the Poor pay their fair capital share of the tax burden. It should be easy for anyone but right wingers to understand.

Ah, Daniel? What are you referring to when you talk about "fair capital share"? Do you know what the term capital share denotes?

I know employers can expense labor costs. So, if the cost of labor goes up, so does the employer's ability to expense those costs and reduce their tax burden.

Daniel...THAT has nothing to do with capital share! Do yourself a favor. If you don't know what something means...don't try and pretend that you do!

You have no sense, otherwise you would know what I am referring to. Admit it, you have no arguments only ignorance.

 

[danielpalos]

Poor Danny Boy............all fluff...........no substance.

Direct labor is included in gross profit, 3.6 percent in the list. For a fast food place that would be most of your minimum wage help.

The 15.1 percent wages and salaries cost would be indirect labor and include everyone else.

Direct labor is included in gross profit

How clueless and Causeless of you. No wonder it seems soo dificult to take right wingers seriously about any Thing serious.

Direct labor costs are part of cost of goods sold as long as the labor is directly tied to production. As a result, direct costs are factored into gross profit through COGS.--https://www.investopedia.com/ask/answers/101314/does-gross-profit-include-labor-and-overhead-costs.asp#:~:text=Direct%20labor%20costs%20are%20part,costs%20are%20included%20in%20COGS.

Is it any wonder nobody takes the right wing seriously about economics. 3.6 percent cost of labor on gross profit.

 

[Nostra]

Poor Danny Boy............all fluff...........no substance.

Direct labor is included in gross profit, 3.6 percent in the list. For a fast food place that would be most of your minimum wage help.

The 15.1 percent wages and salaries cost would be indirect labor and include everyone else.

Direct labor is included in gross profit

How clueless and Causeless of you. No wonder it seems soo dificult to take right wingers seriously about any Thing serious.

Direct labor costs are part of cost of goods sold as long as the labor is directly tied to production. As a result, direct costs are factored into gross profit through COGS.--https://www.investopedia.com/ask/answers/101314/does-gross-profit-include-labor-and-overhead-costs.asp#:~:text=Direct%20labor%20costs%20are%20part,costs%20are%20included%20in%20COGS.

Is it any wonder nobody takes the right wing seriously about economics.

 

[danielpalos]

There will be no problem since he can promise that GDP growth will be 5% a year...

What ever happened to Trumpâs boast of 4%, 5% or even 6% growth?

Whatever happened to Trump’s boast that the U.S. economy would be able to grow not just at 3% but at “4%, 5% or even 6%” a year?

www.marketwatch.com

So how does Biden pay for it...

Reverse the Trump tax cut for rich and corporates... $1.5 trillion
Increase tax on Rich (> 400k per year)... $1 Trillion.

Borrow infrastruction expense and pay off over increased production (Capital expendeture)... $1.3 trillion

Education pays off in increased tax revenue. It also drives an economy...

The return to investment in education - OECD

Data and research on education including skills, literacy, research, elementary schools, childhood learning, vocational training and PISA, PIACC and TALIS surveys., Growing advantages for the better educated and likely continuing high levels of unemployment as economies move out of recession...

www.oecd.org

Housing plan will also drive economic activity in the construction market... Homeless are expensive cost on a city...

Combating opioid epidemic: Borrow the money, Cutting funding to poor will just make this worse...


This is all better than ploughing the money in to hole in the dessert. $2.4 billion.

Financial cost of the Iraq War - Wikipedia

en.wikipedia.org

.

You wrote: Increase tax on Rich (> 400k per year)... $1 Trillion How do you figure that? YOU have NOTHING to prove your statement. JUST a guess... I ON the other hand have a link... follow the link!

the government estimates that raising the tax rate on this small group will raise about $600 billion in new revenues over the next decade.

Who Actually Earns $400,000 Per Year?

The Poor are a larger group. Raise the minimum wage until the Poor pay enough in taxes.

Here is a simple example of what raising the minimum wage means IF YOU owned a restaurant.
Note the 2nd largest % of revenue (gross sales) is salaries and wages..@ 15.1%
So if the salaries/wages go up just 5%... there is no profit...therefore no business!
View attachment 379079

So? Increase the cost of the meals or do you think that people will stop eating at restaurants?

You are the owner of a restaurant. You have choice. Raise food prices or do this?
Make the decision because the chances of keeping 100% of your regular customers if you raise the prices 25% to cover the cost of minimum wage. Or this. Which would you prefer?
View attachment 379197

This was discussed many times over and over in this site.
Menu prices are going up with or without the increase of minimum wages. Im in the medical instruments so minimum wages is not an issue. I don’t pay my lowest entry level MW start with $16+ an hour like maintenance. And so are my competitors.

My relatives own seafood restaurants restaurants in Seattle area. They have not paid minimum wages for years. Why? Like me employees are the best assets of a company. You take care of them and they will show happiness and loyalties to your company. Happy employees happy company.
Look at Costco.



On top of that you do NOT increase prices of your menu to 25%. Nobody does that. You don’t do that if you know, understand or own a business.

So you are saying there should be no minimum wage.

Not if persons could obtain unemployment compensation for simply being unemployed on an at-will basis in our at-will employment States.

 

[Nostra]

There will be no problem since he can promise that GDP growth will be 5% a year...

What ever happened to Trumpâs boast of 4%, 5% or even 6% growth?

Whatever happened to Trump’s boast that the U.S. economy would be able to grow not just at 3% but at “4%, 5% or even 6%” a year?

www.marketwatch.com

So how does Biden pay for it...

Reverse the Trump tax cut for rich and corporates... $1.5 trillion
Increase tax on Rich (> 400k per year)... $1 Trillion.

Borrow infrastruction expense and pay off over increased production (Capital expendeture)... $1.3 trillion

Education pays off in increased tax revenue. It also drives an economy...

The return to investment in education - OECD

Data and research on education including skills, literacy, research, elementary schools, childhood learning, vocational training and PISA, PIACC and TALIS surveys., Growing advantages for the better educated and likely continuing high levels of unemployment as economies move out of recession...

www.oecd.org

Housing plan will also drive economic activity in the construction market... Homeless are expensive cost on a city...

Combating opioid epidemic: Borrow the money, Cutting funding to poor will just make this worse...


This is all better than ploughing the money in to hole in the dessert. $2.4 billion.

Financial cost of the Iraq War - Wikipedia

en.wikipedia.org

.

You wrote: Increase tax on Rich (> 400k per year)... $1 Trillion How do you figure that? YOU have NOTHING to prove your statement. JUST a guess... I ON the other hand have a link... follow the link!

the government estimates that raising the tax rate on this small group will raise about $600 billion in new revenues over the next decade.

Who Actually Earns $400,000 Per Year?

The Poor are a larger group. Raise the minimum wage until the Poor pay enough in taxes.

Here is a simple example of what raising the minimum wage means IF YOU owned a restaurant.
Note the 2nd largest % of revenue (gross sales) is salaries and wages..@ 15.1%
So if the salaries/wages go up just 5%... there is no profit...therefore no business!
View attachment 379079

So? Increase the cost of the meals or do you think that people will stop eating at restaurants?

You are the owner of a restaurant. You have choice. Raise food prices or do this?
Make the decision because the chances of keeping 100% of your regular customers if you raise the prices 25% to cover the cost of minimum wage. Or this. Which would you prefer?
View attachment 379197

This was discussed many times over and over in this site.
Menu prices are going up with or without the increase of minimum wages. Im in the medical instruments so minimum wages is not an issue. I don’t pay my lowest entry level MW start with $16+ an hour like maintenance. And so are my competitors.

My relatives own seafood restaurants restaurants in Seattle area. They have not paid minimum wages for years. Why? Like me employees are the best assets of a company. You take care of them and they will show happiness and loyalties to your company. Happy employees happy company.
Look at Costco.



On top of that you do NOT increase prices of your menu to 25%. Nobody does that. You don’t do that if you know, understand or own a business.

So you are saying there should be no minimum wage.

Not if persons could obtain unemployment compensation for simply being unemployed on an at-will basis in our at-will employment States.

 

[danielpalos]

Poor Danny Boy............all fluff...........no substance.

Direct labor is included in gross profit, 3.6 percent in the list. For a fast food place that would be most of your minimum wage help.

The 15.1 percent wages and salaries cost would be indirect labor and include everyone else.

Direct labor is included in gross profit

How clueless and Causeless of you. No wonder it seems soo dificult to take right wingers seriously about any Thing serious.

Direct labor costs are part of cost of goods sold as long as the labor is directly tied to production. As a result, direct costs are factored into gross profit through COGS.--https://www.investopedia.com/ask/answers/101314/does-gross-profit-include-labor-and-overhead-costs.asp#:~:text=Direct%20labor%20costs%20are%20part,costs%20are%20included%20in%20COGS.

Is it any wonder nobody takes the right wing seriously about economics.

I believe investopedia more than I believe your ignorance.

 

[danielpalos]

There will be no problem since he can promise that GDP growth will be 5% a year...

What ever happened to Trumpâs boast of 4%, 5% or even 6% growth?

Whatever happened to Trump’s boast that the U.S. economy would be able to grow not just at 3% but at “4%, 5% or even 6%” a year?

www.marketwatch.com

So how does Biden pay for it...

Reverse the Trump tax cut for rich and corporates... $1.5 trillion
Increase tax on Rich (> 400k per year)... $1 Trillion.

Borrow infrastruction expense and pay off over increased production (Capital expendeture)... $1.3 trillion

Education pays off in increased tax revenue. It also drives an economy...

The return to investment in education - OECD

Data and research on education including skills, literacy, research, elementary schools, childhood learning, vocational training and PISA, PIACC and TALIS surveys., Growing advantages for the better educated and likely continuing high levels of unemployment as economies move out of recession...

www.oecd.org

Housing plan will also drive economic activity in the construction market... Homeless are expensive cost on a city...

Combating opioid epidemic: Borrow the money, Cutting funding to poor will just make this worse...


This is all better than ploughing the money in to hole in the dessert. $2.4 billion.

Financial cost of the Iraq War - Wikipedia

en.wikipedia.org

.

You wrote: Increase tax on Rich (> 400k per year)... $1 Trillion How do you figure that? YOU have NOTHING to prove your statement. JUST a guess... I ON the other hand have a link... follow the link!

the government estimates that raising the tax rate on this small group will raise about $600 billion in new revenues over the next decade.

Who Actually Earns $400,000 Per Year?

The Poor are a larger group. Raise the minimum wage until the Poor pay enough in taxes.

Here is a simple example of what raising the minimum wage means IF YOU owned a restaurant.
Note the 2nd largest % of revenue (gross sales) is salaries and wages..@ 15.1%
So if the salaries/wages go up just 5%... there is no profit...therefore no business!
View attachment 379079

So? Increase the cost of the meals or do you think that people will stop eating at restaurants?

You are the owner of a restaurant. You have choice. Raise food prices or do this?
Make the decision because the chances of keeping 100% of your regular customers if you raise the prices 25% to cover the cost of minimum wage. Or this. Which would you prefer?
View attachment 379197

This was discussed many times over and over in this site.
Menu prices are going up with or without the increase of minimum wages. Im in the medical instruments so minimum wages is not an issue. I don’t pay my lowest entry level MW start with $16+ an hour like maintenance. And so are my competitors.

My relatives own seafood restaurants restaurants in Seattle area. They have not paid minimum wages for years. Why? Like me employees are the best assets of a company. You take care of them and they will show happiness and loyalties to your company. Happy employees happy company.
Look at Costco.



On top of that you do NOT increase prices of your menu to 25%. Nobody does that. You don’t do that if you know, understand or own a business.

So you are saying there should be no minimum wage.

Not if persons could obtain unemployment compensation for simply being unemployed on an at-will basis in our at-will employment States.

Too complicated for the right wing, like usual. Why do I bother.

 

[danielpalos]

Thanks, Right Wingers for ceding the point and the argument you could not come up with or defend. You all make it seem, so Easy.

 

[Nostra]

Thanks, Right Wingers for ceding the point and the argument you could not come up with or defend. You all make it seem, so Easy.

 

[danielpalos]

Only know how to obstruct instead of come up with good arguments? Too bad you all are not that great. The Greatest of the Great for the Right Wing does it better.

 

[danielpalos]

Thanks, Right Wingers for ceding the point and the argument you could not come up with or defend. You all make it seem, so Easy.

Right projection and argumentation at its finest.

 

[charwin95]

There will be no problem since he can promise that GDP growth will be 5% a year...

What ever happened to Trumpâs boast of 4%, 5% or even 6% growth?

Whatever happened to Trump’s boast that the U.S. economy would be able to grow not just at 3% but at “4%, 5% or even 6%” a year?

www.marketwatch.com

So how does Biden pay for it...

Reverse the Trump tax cut for rich and corporates... $1.5 trillion
Increase tax on Rich (> 400k per year)... $1 Trillion.

Borrow infrastruction expense and pay off over increased production (Capital expendeture)... $1.3 trillion

Education pays off in increased tax revenue. It also drives an economy...

The return to investment in education - OECD

Data and research on education including skills, literacy, research, elementary schools, childhood learning, vocational training and PISA, PIACC and TALIS surveys., Growing advantages for the better educated and likely continuing high levels of unemployment as economies move out of recession...

www.oecd.org

Housing plan will also drive economic activity in the construction market... Homeless are expensive cost on a city...

Combating opioid epidemic: Borrow the money, Cutting funding to poor will just make this worse...


This is all better than ploughing the money in to hole in the dessert. $2.4 billion.

Financial cost of the Iraq War - Wikipedia

en.wikipedia.org

.

You wrote: Increase tax on Rich (> 400k per year)... $1 Trillion How do you figure that? YOU have NOTHING to prove your statement. JUST a guess... I ON the other hand have a link... follow the link!

the government estimates that raising the tax rate on this small group will raise about $600 billion in new revenues over the next decade.

Who Actually Earns $400,000 Per Year?

The Poor are a larger group. Raise the minimum wage until the Poor pay enough in taxes.

Here is a simple example of what raising the minimum wage means IF YOU owned a restaurant.
Note the 2nd largest % of revenue (gross sales) is salaries and wages..@ 15.1%
So if the salaries/wages go up just 5%... there is no profit...therefore no business!
View attachment 379079

So? Increase the cost of the meals or do you think that people will stop eating at restaurants?

You are the owner of a restaurant. You have choice. Raise food prices or do this?
Make the decision because the chances of keeping 100% of your regular customers if you raise the prices 25% to cover the cost of minimum wage. Or this. Which would you prefer?
View attachment 379197

Let’s use McDonald’s as an example. The number of employees per shift is about 12 for 2 shifts that is 24. Let say all of them makes $12 increase to $13/hour.
One employee 8 hours will get from $96 to $104. that is $8. difference per day, for 24 that is $192. a day total increase.

You take hamburger, French fries, soda, bigmac,etc etc etc across the board increase to $0.20 each. How difficult is that to earn or to make up $192? Are you telling me customers will stop coming to McDonald’s with those increases?

On top of that a lots of these employees has been there for years so they make more than the MW.