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Trickle-down economics is "wrong" according to the IMF
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Quote:You really don't get the point that fast food jobs are/were not intended to be a career for most people. I worked in fast food when I was a teenager, mainly to put gas in my truck and have money to do things that I wanted to do. They didn't pay me what I considered "poverty wages" because at the time, I had no debt and really not a lot of responsibility (I was still in high school). It wasn't the first "job" that I had and I personally went from "flipping burgers" to being an assistant manager in a very short period of time. Even then I never wanted it to be a career, so I left the job after gaining some experience and moved on. Yeah, there are indeed multiple factors. Cost being the biggest. There is a cost to labor, obviously. And there is a cost to regulations as well as taxes. The goal of business is to reduce costs as much as possible. But I ask you a rhetorical question, which cost is the highest? It's labor. In most industries it is labor. Regulations and taxes, yes. But I'm my opinion, and I think in most economists research, the flight of jobs overseas is based on cutting labor costs first. |
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