You just explained capitalism in a nutshell. Businesses CARE ABOUT PROFITS. That's the whole point of businesses, it's to make a profit. And it's to make as much of a profit as possible. Investors aren't going to go "well you know what, $10 billion is a lot of money we should just stop and call it good." No they'll go "We want $20 billion." And so on.
Now maybe you'll understand why I've been banging my head against the wall with you saying "ONLY raising the minimum wage won't solve ####." You're NOT fixing the root of the problem, you're just fixing a tiny hole and thinking that it'll solve everything. No all you'll do is make the rich even richer, the middle class even poorer, and the lower class even more poorer.
You should read the entire article:
You'll actually find that if you look up market research on how much walmart pays their associates, the average is $8.81. Not $12.48. You'll also find that most Walmart employees don't work full time or earn more than $25,000. The full time thing is important because Obamacare requires that companies give full time employees health benefits. If they don't then they get taxed extra. Walmart gets around this by limiting most of their staff to working part time only.
I already told you to stop looking at the past. There wasn't as much competition for one and a ton of jobs existed in the US. There's significantly higher competition now and cheap labor from China and other Asian companies are making it difficult for US companies to keep manufacturing and other unskilled jobs in the US.
I'm also pretty sure that statistic doesn't include franchises which ARE considered small businesses. So sure McDonalds Corporate may have made $6 billion in profit last year, but the vast vast vast majority of stores aren't owned by McD corporate. They're franchises. McD corporate doesn't control their wages, the franchise owner does.
There's a big difference in what I was talking about and what you were talking about.
Someone making 20k a year simply cannot support 3 kids. If I earned 60k a year, now I have a much greater chance of being able to support 3 kids.
We can't get rid of human nature, we can only try to limit it. You are seriously saying you expect all/most/enough to matter, companies will greatly raise prices to a point where the labor increase wouldn't matter. It is unrealistic to expect the worst from everybody most of the time, sure you can expect the big player to push their agenda and try something like this, but smaller player will take the user base away from them. If a smaller player tries this they deserve to go out of business if that is the reason they failed, of course instead of blaming greed they will blame the wage hike. You defend the fact that businesses rely on supply and demand, yet you say a minimum wage would cause it to be based more on greed. You can't have both, sure the greedy may try but I personally hope they fail. Currently demand is slipping because more and more people cant afford anything other than necessities. Do you know how many businesses are based on you buying more than food shelter and clothing? It's not worth arguing this point because you are going full blast expecting the worst of all or most people, where as I'm in the realistic center expect the majority of people to play ball, while I expect some to exploit any situation.
Raising the minimum wage bring the lowest earners back up to the point where their should be, AND other actions should still be taken on from other angles, but those aren't a discussion for minimum wage topic. I'm not here to argue tax code, and other laws, Quick point, we should raise prices on imports from these countries so even if they can be made cheaper, they would be sold at prices of higher quality goods, consumers would choose the higher quality made in america products if the cheap imports cost the same. But again, a different topic.
Right now we are looking at the minimum wage in context to how it will affect businesses, the economy, and the lives of people.
Article after article states that if the poor spend more money, since they don't save money, the economy gets boosted. Peoples lives improve because they can survive easier. Businesses take no hit as they just raise prices, even if some greedily raise it more than they should, unless prices get raise more than 25% from all businesses it would still be a net gain for all minimum wage earners. You make it seem like it would destabilize every company. Also you are using investors as an excuse, I thought we didn't care about big companies as they will survive, were talking about the small companies here right? So why mention investors? Most small companies aren't publicly traded.
Link me to your market research, I want sources from you as your math has been proven flaky in the name of proving a point.
The biggest benefit of boosting the minimum wage is that it pushes people off of government assistance, which takes the burden off of you as a tax payer. Quit caring more for huge corporations than individual people, if a company fails another will just come and replace it, if a person fails, we shouldn't expect another to replace them, we should help them. I rather help a person, not a company.
Honestly it doesn't matter what the average pay of any company personnel is, other than if it is below a living wage. There is no reason why, other than higher profits which big whoop, a company shouldn't pay any employee no matter what work they do, a living wage for full time work.
Another topic related to minimum wage but still set off from it is the amount of part time workers vs full time, and how full time jobs are shrinking, we need to regulate that after a certain time working with a company part time workers become full time. Sure I see this leading into more temporary status workers, but at least they would know going in it's temporary and can choose to look for more permanent work. Again, another topic.
With McDonalds franchises, or basically any business small or large, expected to raise prices, they won't lose employees or need to cut new employment, but you state they will. So you are telling me, companies will raise the cost of their products, limit their employees hours and benefits, and not consider new hirers. You are truly just looking at what could possibly be the worst case scenario and using that as the bases for your discussion. Try to be realistic and look at what will most likely happen instead of being pessimistic. Also realise the minimum wage was raise before, and the economy was boosted not hurt every time! I expect prices to go up to match new labor, some companies will go above that requirement, but it will no where be equal to the wage increase across the board. Again, you looked at a certain topic, without adding up the numbers, and just spouted crud, please look at the math, you are wrong.
People make mistakes, you act as if having children is a malicious act to get money, even though any support is less than minimum required to survive! It used to be you can support two children if your significant other dies, or leaves. But now if anything happens you are screwed!