Coming in off the top rope on you mofos.
1. Pain laid out some nice looking proforma financials on Mickey D's and had me interested in buying a McDonald's franchise in the first half of his original post. Then completely flipped the momentum by convincing us the key to a successful career is starting out as a fry cook.**
2. Minimum wage is a a hot button worldwide. As we have learned since April of 2020, if you raise a significant portion of a populations income unilaterally without increasing output accordingly, you are really opening the inflation can of worms. That said, without protections, some people will get taken advantage of by the free market.
There have been lots of studies worldwide, but the closest thing to a consensus according to the IMF is to have a minimum wage between 35-50% of average hourly wages to keep it from driving inflationary pressures up. So in the US that would likely involve having states set their own minimum wage since costs of living varies so much. Based on 2021 data that would mean a minimum wage of $8.15-$11.45/hour in Mississippi and a minimum wage of between $12.95 and $18.50/hour in Massachusetts.
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All data and research aside, I think most reasonable people would agree that those two ranges would work fine for their respective states. Yet if you tried to set a federal minimum wage, somebody is going get 17ed.
3. Disability. When talking about disability and the workforce we are really talking about persons aged 16-64 that are non-institutionalized. As of 2021, there are 205 million non-institutionalized Americans between the ages of 16-64. 15.5 million of those people are classified as disabled and only 10 million of the disabled are unemployed. That's 5% of the working age population or 1 out of 20 people that do not work because of disability. That's not really unreasonable when you think about physical, mental, visual, and other disabilities.
Like everything else the number of and workforce participation of the disabled varies state to state.
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4. It's almost like we should have most policy decisions left to the states and very few made by the Federal Government. Old TJ was on to something methinks.
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