MY LETTER TO THE EDITOR - CHARLOTTE SUN
(March 11, 2014)
Re: “A $5 wage will help poor . . . .
The biggest problem we have in this Country is not greedy corporations, but those liberals who demonize corporations for their own gains. Bombarded daily from much of the media, many people seem to have lost all common sense. In today’s article, writer Robert Strayton cites that an increase in the hourly minimum wage (to $10.00) would result in an increase of MacDonald’s Value Meal from $1.00 to $3.00. Nonsense. Here are the figures below. The increase in minimum wage would result in a price of $1.06 for a Value Meal.
(Wall Street Journal)
Refigured for the $15.00 Minimum Wage
$27,567 2012 TOTAL REVENUE
17 % LABOR COSTS
$7.5 CURRENT HOURLY RATE (AVERAGE AT MACS)
$15.00 PROPOSED HOURLY RATE
17 Cents LABOR COST OF DOLLAR MEAL (CURRENTLY)
17 Cents ADDITIONAL LABOR COST OF DOLLAR MEAL (WITH $15.00 MINIMUM WAGE)
$1.17 NEW COST OF DOLLAR MEAL
$1.51 NEW COST OF $1.29 PREMIUM ROAST COFFEE LARGE.
$5.85 NEW COST OF $5.00 20 PC CHICKEN MC NUGGETS.