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You can get oranges cheaper in Australia but that's about it
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Quote:
Consumer Prices in Australia are 46.14% higher than in United States
Consumer Prices Including Rent in Australia are 53.20% higher than in United States
Rent Prices in Australia are 69.66% higher than in United States
Restaurant Prices in Australia are 44.35% higher than in United States
Groceries Prices in Australia are 34.90% higher than in United States
Local Purchasing Power in Australia is 23.73% lower than in United States
In Australia they already get paid $15 per hour (and have health insurance) and yet a big mac costs almost exactly the same as in the US. The same goes for several parts of Canada (like Alberta) and in several US states (like North Dakota though they don't get health insurance there).
The reality is labor costs are only about 3% of the cost of your average fast food meal and just about every other catagory in the price break down is larger.
You'd be surprised how high labor costs really are, even at fast food restaurants. As a former owner of two full-service restaurants, I would be driving an Aventador -- a different one, every day of the week -- if labor costs were this low.
You'd be surprised how high labor costs really are, even at fast food restaurants. As a former owner of two full-service restaurants, I would be driving an Aventador -- a different one, every day of the week -- if labor costs were this low.
He's funny guy isn't he? If you had 10 workers at $7.50 an hour that's $75 an hour. If that is 3% of your costs you're other 97% in costs would roughly be $2,500 per hour. Open for about 18 hours a day so cost per day would be $45,000.... figure about 360 day year that's 16 million dollars per year just in expenses to run one McDonald's restaurant.
I love math, it's fun.
-edit---
Wait a minute because it gets better, there is 14K McD restaurants in the US so that's 224 billion dollars annually just in expenses if labor was 3% of costs if each of them had 10 workers working 18 hours a day.
Last edited by thecoalman; 08-29-2013 at 06:14 AM..
I would never eat the slop they serve at these places but I do applaud the workers for demanding their rights. If they met in the middle, the Minimum wage would be about $11-which is what it should be if the US Dollar kept with the pace of inflation.
how come restaurant employees are not doing this? they don't get 15.00 per hr. how about the supermarket worker? how about the gas station worker? and I am sure oil companies that the gas is made from make a little profit. so why only fast food?
Look at the spectrum of jobs and discover the pay ranges from low to high.
You select a job/salary commensurate with your skill set. Failing that, you take what is available.
In either case, the system is set up to encourage self improvement, which it rewards with pay and as a result gets rewarded by the person's productivity.
Break that cascade of energy and both the person and society suffer a deficit.
An entry level job is just that, with no expectation of qualifying for a mortage. Only in a socialist society would anyone think a job, any job, mandates a salary incompatible with skill level....
.....oops!! there is one situation where a person's skill level is determined by time on the job and is supported by a union. That would be teachers! Better to challenge teacher unions for supressing teacher salaries.
No one cares if they have a tanrtrum on Thursday. I declare Thursday a day of fast....
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