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Fast food was affordable because they paid sweat shop wages. That’s not the case anymore. In any event.. I would argue with the “supposed to be” affordable comment. Just because it was doesn’t mean it’s supposed to be. As far as I’m concerned this can only be good for the health of the public- when fast food prices are at least comparable in price to healthy options.
Edit: lol at all the people comparing the US to Nordic countries. Apparently they think US franchise owners are the same as those in countries where making a profit is akin to a sin. Hahaha. They thought by raising wages, owners would cut into their own bottom lines. “Bruh, in countries where mcmansions don’t happen, this isn’t a problem.” Net profits have not gone up at all compared with the rest of the economy.
And apparently people really like their cheap big macs. Eat something else? And I’m sure many of them were arguing for livable wages over the past five years (I was). This outrage is hilarious.
Edit 2: Apparently people don’t know what “gross” means. If my costs go up, then my prices go up.. and my gross returns go up to cover both the costs (expenses) and net proceeds. I’m at a complete loss at the nature of these arguments.
McDonald’s NET growth from end of 2009 to 2023 was 4.56 B to 8.47B. A 186% increase. This is roughly a 5% annualized increase. I intentionally sought pre/post COVID numbers for a reason.
In this same time the US GDP grew from 14.47B to 27.35B. Almost the exact same rate of growth at a 189% increase.
Net profits are what you’re concerned with in your arguments when accounting for greed.. not gross. If anything, I’ve shown McDonalds is making less money today. But you know, feels are more important than facts.
I don't think anyone actually thought that.
They're simply making the point that the problem is not the wages paid to the employees, as you imply, but the obscene salaries paid to executives and franchisees.
That the American execurives and franchisees are not going to take the necessary steps to correct that problem pretty much goes without saying, but that doesn't in any way change the fact that that is the problem
The profits today aren’t any different than the profits from 15 years ago (when fixing for economic growth). I’ve already done the math. The only significant variable that’s changed here is wages. I.e., expenses.
Undoubtedly.
And that in no way contradicts, or even really addresses, my point, which is not about overall expenses, but about the distribution of them - the portion that goes to employee wages vs. the portion that goes to executive compensation packages.