One man's opinions about how the world (and America) could and should be better.
Wednesday, September 10, 2014
It's simple math, people
So if I am a minimum wage worker, I make $7.50/hour, which is $300/week. If I get a raise to $10/hour and I am working 40 hours/week, then I'll get another $100/week. BUT, if employers like McDonalds have to pay minimum wage workers $10/hour, then they'll have to raise their prices. Some estimate that the price of a Big Mac could go up by as much as $0.60. So if I were to eat a Big Mac every meal for a week, it would cost me an additional $12.60. That leaves me with ONLY an additional $87.40/week. Therefore, we should not raise the minimum wage. I mean, who would agree to pay an additional $12.60 just so they could make another $100? Bruce Rauner (Illinois Republican Governor candidate) understands why we should lower the minimum wage. Knock me down to $5/hour and my Big Mac cost could drop by as much as $0.60. So I'm making $100/week less ($200/week), but I am saving $12.60 on food. So my choices are: $5hour, $200/week minus $12.60 for food, $7.50/hour, $300/week and the same food cost, or $400/week and an additional $12.60 for food. So would you rather have $212.60, $300, or $387.40? And if you can do that math and don't come to the conclusion I want, that is proof that we need to cut education spending.
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