The day after Obama mentions this these people come out again. Distraction, it looks like it. Private sector should determine pay, not the Government.
If a place called Joe's Burgers only sold Burgers, what would the wage Hike do to the cost of Burgers?
An operating Statement for a company would look something like this.
Utilities cost (electric and gas and water)
Supply Cost (paper goods)
wage cost
food cost and handling (manufacturer, transportation)
building overhead.
profit
Maybe there would be more. All this would come from the price of a Hamburger. If the wage increase goes up what would it do to the cost of a burger? would it effect sales? Probably. If sales drop due to the rise in cost, what is to say they might close up. A business or franchise owner would know this and would know the limits on prices to make a profit and to stay in business.
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