Y-you can't raise the minimum wage! It will double the price of everything!

when consumers are expecting a price rise they increase it even more

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>well they boosted minimum wage here, by 30% and the price of a mcdouble went up by 70%

Wow it makes perfect sense that consumers would randomly accept a 70% price rise.

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phone posters get the rope

We had no minimum wage until very recently because of formerly strong unions and collective bargaining. So minimum wage went from $0 to $10 over night and literallynnothing happened. No increased inflation and no increased unemployment rate. It's almost like wage stagnation over last 40 decades have resulted in a completely decoupling of wage levels and productivity.

Even if it were double what it showed on the image, it wouldn't imply anything about the effects of the minimum wage which is to create a price floor on labor and cause artificial unemployment among low skill workers

one big mac is way more expensive than this in France also

fucking retard forgets the exchange rate and the tax rate. what a moron. the metric to look for is how many get replaced by robots lib tard.

The Canadian market is notoriously gaugable due to relatively high income and relatively high control of the market by monopolies.

How about restricting the labour supply by not importing millions of people from the 3rd world and deporting a load of unwelcome guests?

Mostly bullshit based on outdated economical theories. This guy also probably thinks that consumers are still rational agents, lmao

So basically they could have done this regardless of a minimum wage increase. Therefore it's irrelevant.

>what is basic economics

OY THAT'S HOW THE HOLOCAUST STARTED

WHAT AR U A KNOTSIE?

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>What is price elasticity

The effects of price controls on production has been well known and universally accepted since the late 19th century.

Its not irrelevant because the price still skyrocketed because of the policy

>price inelastic
>so they could have raised the price anyway to maximise profit

Dumb cunt.

$12 in SF is different than $12 in Sydney, Nebraska. Do you think the US is the same everywhere?

People wouldn't have bought it for the cost. Now that those companies have to pay their workers more they have no choice. As well, people in general have more money due to minimum wage, thus raising demand and causing price raises.

what about small businesses? they’re gonna be the ones affected most.

The minimum wage in my state is $11.20/hour. So you can't really take the federal wage as every state has their own thing. And you think Americans are ignorant. Fuck off

You can already make above minimum wage by not being fucking worthless.

Because they would sell fewer big macs without a corresponding wage increase. If you think you understand pricing better than the people at McDonald's who get paid to do that then by all means go apply to work there.

AUD also uses the $ sign you brainded fuck

>eating at mcniggers
I stop at one for an iced tea and bigmac's were 2 for five buck's.

It shows there's no direct link.
The weight of wages upon a price's product isn't something fix.

Goods need to be produced, transported, ect... and most of these costs, today, are heavily influenced by capital cost for equipment or raw material.
Most of these aren't even produced in America so the american wages aren't much of a factor in the final price.

In services, however, workforce is the key.
Especially local services, where minimum wages are prevalent.
America is mainly a service economy so a high minimum wage would either kill most of the low-productivity local jobs OR make the living cost so high that the lower segments of the population will lose more purchasing power than an increased minimum wage would bring them.

Our $4.5 a day minimun wage raised to $5.5 a day and now oil is more expensive + crime increased in some states.

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In the mind of a leftist (including nazbols), all businesses are large evil corporations exploiting labor even though firms with over 500 employees form only a small percentage of businesses

false equivalency and cherry picked data point
keep trying

>without a corresponding wage increase

People on minimum wage are only a section of society. What about all the people on $40k? Their salary doesn't necessarily go up with a minimum wage increase. Your argument makes no sense.

Fuck small business. Seriously. Right in the ass.

Just like in Australia and France

Also, this won't matter in a few years when the invading sand niggers make hamburgers illegal as they are not Halal. Enjoy your invasion, USA will be here to bail your sorry asses out of another war shortly.

Not if they deport 30,000,000 spics.

>Fuck small business. Seriously. Right in the ass.

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you will be reducing the wealth of everyone working(with skills btw) for more than the minimum.
You will either shit on everyone above that minimum by reducing their own worth
OR
you WILL have inflation.
Either way, you communist kikes will never get your way here.

Do you really need me to hold your hand? Prices vary by city and state. $12 can buy you more in Sydney Nebraska than San Francisco. And by the way, since you seem easily confused Sydney Nebraska is not the same city as the one in Australia.

Raising the minimum is only necessary when the inflation from paying to print money lowers the amount the money is worth.

What do salaried employees have to do with price elasticity? I'm talking about wages for McDonald's, do try and keep up champ

1) High wages here in Australia do produce higher prices (not necessarily complaining about that btw)
2) The US price of Big Macs in that image doesn't look accurate (I wouldn't know what it is here because I'm not a fat cunt)
3) Image doesn't seem to take currency differences into account
4) this is a slide thread
5) OP needs to dilate again soon

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Here in Hawaii we are forced to live under democrat rule. The multicultural diversity is sort of a given, considering the history of demographics here. But the DUMB Party (Democratic Union Media Bureaucrat Party) really makes it hard to survive, as they take their policy cues from California. So our minimum wage is fairly progressive, but cost of living and price of commodities are inflated for more reasons than higher minimum wage. We have outrageous regulatory structures, we import everything via a shipping monopoly, we have tons of taxes, the most notorious being the GET that keeps getting bumped and extended, lack of property development and foreign investors lead us to $580k studio apartments, for example.
Anyways, yes, our big macs are more expensive. In fact, everyone commercial we have to watch about five dollar foot longs and buck fifty 20 piece chicken nuggets are showing deals not available in our state.

Great post, really adds a lot to the discussion, kid.

The crime increases is understandable :
Some people got jobs at 4.5 $ because their employers could make a profit out of their work at that price.
If the price increase to 5.5 $ (about +20-25%), that's eating at the profit margin, sometimes badly enough that the business has to close... which means unemployment, which means more crime.

The oil increase, I see less connection.
Are fuel pumps in Mexico still operated by employees rather than self-service ?
If yes, then wages might have an heavier weight on the consumer price than in other countries.

Yeah, mocking an unrepentant corporate cuckold is important

Bigmacs are like $9 here

Fuck me! Did you get any fucking O Levels!

If you want to compare what you have in the image, it would be more appropriate to compare the minimum wage in various countries to how many Big Mac's an hour equate to the minimum wage in that country.

Fucking idiot!

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>>y-you can't raise the minimum wage! It will double the price of everything!

??

No, it creates unemployment. Especially, young people. Starter jobs.

Lets have a look at youth unemployment in France...

Well, fuck me. 22%

tradingeconomics.com/france/youth-unemployment-rate

They are a bunch of commie fucks though.

How about OZ: 12%

tradingeconomics.com/australia/youth-unemployment-rate

And America: 9%
tradingeconomics.com/united-states/youth-unemployment-rate

Minimum wage -> unemployment for beginners.

Same thing happened in the UK when minimum wage appeared. A whole bunch of jobs completely vanished for young people.

On the dole they went.

We sell the US fresh oil, then they sell us the Gas almost x2 price.

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The Australian Big Mac is tiny

Except that there never was a verifiable increase in umemployment with the introduction of a minimum wage, ever.

Ya its crazy. All the McDonald's workers in France are robots. Its a sight to behold. Fucking retard

>No, it creates unemployment. Especially, young people. Starter jobs.
fuck off Peter Schiff dicksucker. this is a retarded lolbertarian meme.

Big macs ain't $4 lol closer to $9.

The businesses most negatively impacted by the minimum wage are not the fast food chains. It’s small businesses. This is hugely problematic since the minimum wage jobs that actually might offer some upward mobility are in small businesses.

Its not retarded and further kids shouldn't be forced to go to public school or barred from various occupations

big mac in france is like 12 euro you fucking imbecile/.

Canada:

Big mac cost $5.25

With tax: $5.88

To USD: $4.48

Minimum wage (varies by province): between $11.05 to $15.00 hr

>Ancap advocating child labor
Like pottery. As long as they are small and agile small children should start off in their father's coal mine instead of staying in school so long!

Big Mac $5.65 $9.25 $9.90 $10.55
This is from Feb. 2019. A simple Google search away. I thought Bongs were supposed to be good a propaganda.

frugalfeeds.com.au/mcdonalds-prices-menu

Once a person asserts their agency and are physiologically an adult, its no longer okay to have parents compel them to do things like they are their slaves. You can make an argument for people who are slow or prepubescent or any number of material differences between adults and children but once that material distinction is gone, so should the legal one.

Most people would be far better off without the state lobotomizing the minds of young adults.

Let me elaborate, the first price is for the sandwich. The second, a small sized meal, next a medium etc.

fuck the gold standard, lets go on the big mac standard

Woah didn't know big macs were $4

80 percent effective tax rate.
Retard

>both meat patties on the euroshit big macs only weigh as much as one merica big mac patty
they also scam you on the size of the fries and drinks and it worse in asia

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Do you need healthcare? Do you need a pension? Do you need education?

Numbers are not correct. Also big macs are a stupid yard sticks to compare.

so without an 80 percent tax rate you can't have any of that stuff?
with his 20 dollars an hour he's left with 4 dollars an hour to buy what exactly?
can you live on 160 dollars a week?

Printing money leads to inflation. Raising the "minimum wage" does nothing to stop rising prices. Its a bullshit excuse to ignore real problems with banking.

Am I missing something?

>The average annual income in Denmark is about 39,000 euros (nearly $43,000) and as such, the average Dane pays a total amount of 45 percent in income taxes.

usnews.com/news/best-countries/articles/2016-01-20/why-danes-happily-pay-high-rates-of-taxes

Are there studies showing minimum wage raises increasing unemployment?

That Denmark guy is stealing burgers on the job, just look at him.

youtube.com/watch?v=aSLdmPhrNBk

The minimum in my area is $11, and I can tell it's done some damage. All fast food places seem to be understaffed, so it takes a long time to get food. Plus the local fast food places are expensive as fuck. You pay over $20 for 2 people, so why not just go to a real restaurant at that point?
I worked fast food previously, and they don't deserve more than $8 when they start. Most employees are lazy and suck at the job, but the few good people get punished with the bad pay. There just needs to be better raises and such for those who actually work well and stick with the job.

effective tax ratge

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>No sources

Go buy a computer game in Australia and get back to me

Suppose the minimum wage was increased to $100 and that law was strictly enforced, do you think it would cause employment? The answer is yes - we don't need a study to tell us. Then in principle we know it can do that if its raised too high and the mechanism is clear - a price floor artificially props up the price and prevents employers from buying the amount of labor they otherwise would.

The effects of a $5 jump vs $0.50 jump won't be the same absolutely or proportionately (the relationship isn't linear). When people do economic analysis of minimum wage increases, they only increase it marginally to limit the negative impacts on employment. In principle, if any labor with a price below minimum wage is outlawed anyone whose labor is worth less than minimum wage (young adults for example) will be unemployed.

It would be much better to just have wages float on the market like anything else not only because it utilizes full employment but because it creates more wage competition due to being required to negotiate.

From big Mac index

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we're up to 80 for a new release here what are you at?

RETARD, companies are for profit, if you increase a expenditure, such as workers, they will hire less, to subsdize the min wage,and or increase price to consumer to increase profits.

The price of a big mac is AUD$5.65. USD$4 is AUD$5.61. With the AUD dropping a bit lately, The figures in the image are probably AUD, not USD.

> Big Mac $5.82

nice try

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Does this have anything to do with minimum wage though? Most games are made in the US, Europe or Japan and can be digitally downloaded. It's likely no one making minimum wage was involved in the process at all.

no, i was curious what aussies paid for a new release game.

All the minimum wage does in Australia is encourage businesses to hire people "off the books" which means (1) the employee gets $9 and (2) is treated like human garbage because there's no legal protection and (3) destroys possible tax revenue. The minimum wage is making shit really hard to keep a clean record over here.

But what do you do with 30 Indian Big Macs?

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Anywhere between $100 - $120

Charging more than 1.5$ for a big mac is stealing.

Get fucked britfag, a big mac in Aus is more expensive than that.