A McDonalds hamburger costs $4.82 in Juneau Alaska. The same sandwich is $2.24 in Conway Arkansas.
If Bill in Alaska eats one a week, that is $250.64/yr
If John in Arkansas eats the same, that is $126.48//yr.
So, roughly twice as much is the cost of living for poor Bill. But he and John BOTH make $30,000 a year. Bill will struggle, John will have enough leftover to buy school books.
This is the most simple reason to NOT have a minimum wage. Leave it to the states...like our country should do for everything, except for maybe being in charge of the atomic bomb.
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Any increase in the minimum wage or adopting a standard just gets absorbed by the following price increases by companies.
We have a minimum wage here and when it goes up so do prices.
It's all relative.
If the minimum wage was increased to 10 thousand dollars an hour it would not make a difference because companies would increase prices accordingly.
"Medium coffee please"
"That will be $2,565 sir"
@zahlanzi saidYou are ON it Zahlanzi. Thanks for your informative response, to really tighten up your thinking that the minimum wage is a good thing for Alaska and Arkansas. The same wage. A great post. Geez
Ugh here we go again.
Recycling the same tired nonsense proven again and again to be crap.
I wonder how you will work AOC and Venezuela into this discussion . I guess we will see
@phil-a-dork saidYes, to follow up, when they find out that the guy in Arkansas has more money to spend, they probably will raise the price of his hamburger. Economics 101
Any increase in the minimum wage or adopting a standard just gets absorbed by the following price increases by companies.
We have a minimum wage here and when it goes up so do prices.
It's all relative.
If the minimum wage was increased to 10 thousand dollars an hour it would not make a difference because companies would increase prices accordingly.
"Medium coffee please"
"That will be $2,565 sir"
The post that was quoted here has been removedWith all due respect, my post points out why it has to be state by state. Surely you see that. You say a state can set its own. Yes like i said. Now....what would that have to do with the federal government? Why are liberals all hung up on the federal government?
Federal Min Wage??? Well hell, why not $50/hr? And why stop there?
Duchess ,is it logicalthat a citizen in Arkansas have more buying power than some guy in Alaska doing the same job for the same pay?
Can ANY of you answer that? I’ll take an answer either from Mott or Earl Trumps.....anybody!!
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@AverageJoe1
Cost of materials comes into play too.
If I buy one million pounds of beef I will get it at a cheaper price than you because you are only buying one hundred thousand pounds of beef.
In my country a burger is a lot more than the prices you gave as examples because we have a low population so we buy less wholesale meat and our taxes are high.
But that doesn't really work because NY has a high population and high prices 🤔
I guess I don't know 😔
@averagejoe1 saidA McDonalds hamburger costs $4.82 in Juneau Alaska because people are paying that price by choice. Maybe it is because there are not enough cattle in Alaska and it is farther to ship ground beef.
A McDonalds hamburger costs $4.82 in Juneau Alaska. The same sandwich is $2.24 in Conway Arkansas.
If Bill in Alaska eats one a week, that is $250.64/yr
If John in Arkansas eats the same, that is $126.48//yr.
So, roughly twice as much is the cost of living for poor Bill. But he and John BOTH make $30,000 a year. Bill will struggle, John will have enough lefto ...[text shortened]... es...like our country should do for everything, except for maybe being in charge of the atomic bomb.
That has nothing to do with the minimum wage. Minimum wage has been outpaced by inflation. This is the most simple reason to have a minimum wage increase. You are unwittingly supporting economic slavery using flawed logic.
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@metal-brain saidHow do you see a doubling of the minimum wage playing out? Who is going to absorb the loss of profit?
A McDonalds hamburger costs $4.82 in Juneau Alaska because people are paying that price by choice. Maybe it is because there are not enough cattle in Alaska and it is farther to ship ground beef.
That has nothing to do with the minimum wage. Minimum wage has been outpaced by inflation. This is the most simple reason to have a minimum wage increase. You are unwittingly supporting economic slavery using flawed logic.
@averagejoe1 saidThis is economic illiteracy; IF a McDonalds in Conway, Arkansas could profitably sell a hamburger for $4.82, it would.
A McDonalds hamburger costs $4.82 in Juneau Alaska. The same sandwich is $2.24 in Conway Arkansas.
If Bill in Alaska eats one a week, that is $250.64/yr
If John in Arkansas eats the same, that is $126.48//yr.
So, roughly twice as much is the cost of living for poor Bill. But he and John BOTH make $30,000 a year. Bill will struggle, John will have enough lefto ...[text shortened]... es...like our country should do for everything, except for maybe being in charge of the atomic bomb.
Google "supply and demand", Joe.
@joe-shmo saidSo rising wages would hurt the working class?
How do you see a doubling of the minimum wage playing out? Who is going to absorb the loss of profit?
[hidden]Hint: It will be the same people who have always absorbed the loss of profits...the working class.[/hidden]
Do you have any historical evidence to back such an absurd conclusion?