"$15 an hour will increase prices"
Costco: pays workers well, same prices as Walmart's Sam's Club
In-n-Out: pays workers well, same prices as McDonald's
Best Buy, Target & Home Depot: raised pay 20% in pandemic, same prices
All 5 pay over $15. They made $15B+ profit in 2020.
Costco: pays workers well, same prices as Walmart's Sam's Club
In-n-Out: pays workers well, same prices as McDonald's
Best Buy, Target & Home Depot: raised pay 20% in pandemic, same prices
All 5 pay over $15. They made $15B+ profit in 2020.
Funny, when there's a plan to raise the minimum wage to $15 an hour, big businesses say "we''ll have no choice but to raise prices."
But when they got $1.9 trillion in corporate tax breaks, not one big business said "good news! we're able to lower prices."
But when they got $1.9 trillion in corporate tax breaks, not one big business said "good news! we're able to lower prices."
Jeff Bezos net worth when Amazon enacted $15/hour min wage: $135 billion
Jeff Bezos net worth now (2.5 years later): $192 billion
Amazon quarterly profit grew 120% in that span
Jeff Bezos net worth now (2.5 years later): $192 billion
Amazon quarterly profit grew 120% in that span
Anyway I think a lot about that Chris Rock quote, how a corporation paying minimum wage means, "Hey if I could pay you less, I would, but it's against the law."
Minimum wage in July 2009: $7.25
Minimum wage in January 2021: $7.25
In that span, the average cost of goods went up 21%. And corporate profits went up 56%.
Folks, prices go up regardless. And so do profits. What doesn't change, usually, is wages for service workers.
Minimum wage in January 2021: $7.25
In that span, the average cost of goods went up 21%. And corporate profits went up 56%.
Folks, prices go up regardless. And so do profits. What doesn't change, usually, is wages for service workers.
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