Is Fox news unironically the best place to learn about your new favorite social dem?
this post was submitted on 25 Jun 2025
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Wow 30$ minimum wage seems like a lot, but how is that gonna impact prices in things like restaurants?
Edit: Sorry it seems high to be, it is almost twice as high as the legal minimum wage in NL.
Who cares? Study after study show that stores and corporations can swallow these costs and even when passed on to the consumer the increase is much less then thought.
Besides as long as people can afford groceries I don't think people will care if restaurant and fast food are a bit more expensive
Can you link one of those studies? Truly interested in the subject.
The restaurants I have/had as clients all had only 1 or 2 locations, but one of their main expenses is well wage cost. At least here in NL and with my clients. Increasing the wage there would require a price increase or they would go to the negative. I am just wondering how it would impact in the US.
I just found like 5 minutes looking around on Google this was one of the first results: https://www.epi.org/blog/most-minimum-wage-studies-have-found-little-or-no-job-loss/
I understand that this would eat into your profits and would probably eat into the amount of money that you can make off a business like this But if the business is not viable Paying a living wage where the minimum should be 30 an hour then the environment is not correct for that business and the business isn't viable.
I don't want to sound cruel but for a long time businesses have gotten away with paying people pennies for work that they should have been paying dollars.
Did the pice increase impact customer traffic?
Generally yes, but often you see that they still end up with the same or more revenue. So less people came, but they spend more.
or the traffic just stayed the same and more people came. It depends a bit on the size of the restaurant and in what price category they are and what they increased.
Raising consumer prices because of increased minimum wage is a myth. Even fucking Henry Ford of all people knew the benefits of raising wages! More wages means more people buying his cars! More wages means more consumer spending! And it is not like raising minimum wage is what drove prices to increase since the pandemic; even though the minimum wage has been stagnant since the 1970s! Businesses will tell you that they have to increase their price because of "inflation" despite having record profits!
Depends on the company, that's why I am asking. In companies where wages are the main cost (like in many restaurants) raining the wages will raise the total costs. Which can mean they will go into the negative if the prices aren't increasing as well. I have seen a fair amount of administrations/annual reports of restaurants. And it was pretty common to spend at least as much on food as on the personel costs (wages, social security, pension, etc.)
30$ is a lot compared to the minimum wage 14,40€ (16,84$) we have in NL. Which is why I am asking what the impact of it would be in the US of such an increase.
(Yes it will not matter for MacDonalds, Burger King or any other big chains)