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Right. (I'm being sarcastic, btw.)
I was being sarcastic when I said it was a huge difference.
Starbucks Reports Record Fourth Quarter and Record Fiscal Year 2015 Results
We don't know the results of 2016 yet but as of 2015 they are making more money than ever before.
You have already demonstrated your deep understanding of economics and finance. So how can I argue with you about that.
The point is Starbucks can afford to raise wages, they just don't want to because they are greedy.
originally posted by: seasonal
a reply to: Phage
Just for fun, if the min wage was eliminated would you be OK with a 2.50$ an hour rate just because the company could fill the positions?
Nor do you have to be in order to understand that corporations can only exist if they have investors and that those investors, many of whom are pretty ordinary people, expect a return on their investment. When those returns start to fall those investors become unhappy. When those investors get unhappy CEOs lose their jobs. A certain Carly Fiorina is an example.
You don't need to be an economics master to see that huge corporations like Starbucks are simply greedy and unethical.
It also says that as need increases so does the price. If there is a need and if people won't work at that rate, the rate will go up until they will.
Free market says if there is a need it would be filled, somehow.
I haven't read anyone saying stockholders/CEOs shouldn't get paid, I would imagine many have 401ks. I think workers need to get paid too.
Where do you think min wage people get health care?