They asked for it!
McDonald’s proves that liberals have no understanding of the real world impact of their agenda.
Fast-food titan McDonald’s has responded to calls for a higher minimum wage with a plan to replace all cashiers with mobile ordering stations in 14,000 locations across the country by the end of the year (via CNBC).
McDonald’s is referring to the plan as the “Experience of the Future,” and will offer table delivery and digital ordering kiosks at 2,500 Americans locations.
Wall Street is praising the decision, and McDonald’s stock has hit an all-time high. Investors are growing confident that McDonald’s can now survive calls for minimum wage hikes.
McDonald’s shares are up 26 percent this year compared to the Standard and Poor’s index average of 10 percent. McDonald’s is standing out as a leader in the thriving American economy.
Minimum wage laws are just one of the many liberal policy agendas that have the best of intentions but a complete misunderstanding of underlying economic principles.
A hike in minimum wage is intended to raise low-income earners out of the bottom rung of society by forcing companies to pay more than the market is willing to bear.
Liberals defend minimum wage laws using emotion, charging it is the moral thing to do. However, the consequences of minimum wage laws ultimately hurt those it is meant to protect. Minimum wage laws are always accompanied by increases in unemployment as small businesses are forced to close down.
The few businesses that can afford increased wages ultimately hire fewer employees or develop alternative strategies to replace employees. McDonald’s is responding to the calls for increased minimum wage by automating their production process.
Minimum wage laws ultimately harm those who liberals think they are helping. Low-skill employees with little to no experience are set back the most by minimum wage laws.
All Americans start out without experience or advanced skills. It is only by working low-paying jobs that we can acquire the skills required to demand more. Minimum wage destroys the chance to obtain a first job, ultimately damning low skill employees to a lifetime of poverty.
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