Biden announced he is going to push the $15 minimum wage... i'm no economic major , but here are my thoughts, so please tell me i'm wrong...
you now flip a $8 burger combo for $7.25 /hr... tomorrow the same job pays double ... would it not make sense that the $8 combo will soon become a $16 combo ? so now it costs double to get what you used to get ? you don't really think the company can survive without raising prices right ?
this also means that your $10k in savings is now only buying half what it used to....
but it doesn't stop there ... america sells a pound of sand for $1 , china does it for $1.20 ... Germany buys mostly america sand as it's cheaper.
here comes $15 minimum wage ... america's sand now costs $2 ... china's didn't change, so everyone now buys china sand ... looks like America's now screwed ...
China has devalued their currency for years to make it more appealing to buy their products ...
Looks to me like Biden is dangling a carrot in front of the american minimum wage people making them think it's going to help them while screwing the entire country, your savings and pretty much boosting china and every other competitive countries...
please tell me i'm wrong!
you now flip a $8 burger combo for $7.25 /hr... tomorrow the same job pays double ... would it not make sense that the $8 combo will soon become a $16 combo ? so now it costs double to get what you used to get ? you don't really think the company can survive without raising prices right ?
this also means that your $10k in savings is now only buying half what it used to....
but it doesn't stop there ... america sells a pound of sand for $1 , china does it for $1.20 ... Germany buys mostly america sand as it's cheaper.
here comes $15 minimum wage ... america's sand now costs $2 ... china's didn't change, so everyone now buys china sand ... looks like America's now screwed ...
China has devalued their currency for years to make it more appealing to buy their products ...
Looks to me like Biden is dangling a carrot in front of the american minimum wage people making them think it's going to help them while screwing the entire country, your savings and pretty much boosting china and every other competitive countries...
please tell me i'm wrong!
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