Now The Fight For $20/hr?

[*TheLeonardLeap*]

If the Federal minimum wage goes from $7.25 (most states are already higher) to $20, does this person really think that all companies will just be able to absorb the extra $12.75/hr out of their profits? Do they not realize that the cost will be then passed along to the consumers, who will then have to pay more for the same lifestyle they previously had? If the people who were already making $20/hr, or $30/hr then have to pay more for the same products, aren't we just making the middle class poorer? A rich person doesn't care if Milk is $2 or $6, but the middle class sure does, and the people making minimum wage will find their $20 doesn't go really any further than their $7.25 used to.

https://smallbusiness.chron.com/average-profit-margin-restaurant-13477.html
In 2012, Wendy's profit margin was 0.3% and the fast food industry as a whole was 2.4%, which is already a small but still inflated number as McDonald's had just under 20%. There's 0 chance that even McDonald's could absorb a 276% increase in Federal minimum wage, let alone all of the other fast food companies.

It's the same when you look at other companies as well. Kroger's net profit margin in has been in the 1.3%-1.8% range for the vast majority of 2006-2019. Where do they get the money to pay $20/hr without passing it onto the customers?


https://www.msn.com/en-us/news/politics/rashida-tlaib-the-federal-minimum-wage-should-be-dollar20-an-hour/ar-AAEIVxz

Quote:"Big fights like this one, $15. When we started it, it should have been $15," the Michigan Democrat said in a video posted by America Rising on Monday. "Now I think it should be $20 ... It should be $20 an hour. $18-20 an hour."

Tlaib said the higher minimum was because the cost of "a lot of things" has gone up.

Tlaib, 42, has been on the front lines of the "Fight for $15." In 2018, the congresswoman was arrested during a protest in support of a national fast food workers walkout to demand a $15 per hour minimum wage.

"These corporations are making billions off of our blood and sweat," then-candidate Tlaib said. "That's the most American thing you can do today: to push back, because they are pushing our children into poverty, because we deserve better."

This week, video surfaced of a screaming Tlaib being forcibly removed from a Trump event in 2016.