'Federal Minimum Wage Is 2 Hashbrowns An Hour' — McDonald's Price Hikes Are Making People Feel Overcharged And Underpaid

Benzinga03-27

A recent Reddit thread on the Work Reform subreddit went viral for its clever way of highlighting the struggle of minimum wage earners in today’s economy. The thread, titled “Minimum Wage Has Always ...

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The thread, titled “Minimum Wage Has Always ...</p>\n\n<a href=\"https://finance.yahoo.com/news/federal-minimum-wage-2-hashbrowns-210011872.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"IE00BBT3K403.USD","symbol_name":"LEGG MASON CLEARBRIDGE TACTICAL DIVIDEND INCOME \"A(USD) ACC","start_time":0,"source_url":"https://finance.yahoo.com/news/federal-minimum-wage-2-hashbrowns-210011872.html","article_id":"2422281620","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/Z8OU3rTvDk4a8Jqej59oWQ--~B/aD01MTQ7dz05MTQ7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/Benzinga/8a9a465dccd75313c72ddbb78461145f"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2422281620","pubTimestamp":1711486811,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"A recent Reddit thread on the Work Reform subreddit went viral for its clever way of highlighting the struggle of minimum wage earners in today’s economy. The thread, titled “Minimum Wage Has Always Been Set Too Low, But Now It’s Laughable!”, compared the stagnant federal minimum wage of $7.25 to the shocking price of a McDonald’s hash brown: $3.49.The original post highlighted how the federal minimum wage of $7.25, stagnant since 2009, equates to two McDonald’s hashbrowns an hour at their current price of $3.49 each. When the minimum wage was set, a McDonald's hashbrown was just 75 cents, which is a 365.33% price hike.Average retirement income in America has been revealed – Will you make enough each month?Can you guess how many Americans successfully retire with $1,000,000 saved?This situation directly impacts the purchasing power of many people, particularly those reliant on minimum wage incomes","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"IE00BBT3K403.USD":"LEGG MASON CLEARBRIDGE TACTICAL DIVIDEND INCOME \"A(USD) ACC","BK4534":"瑞士信贷持仓","BK4507":"流媒体概念","BK4533":"AQR资本管理(全球第二大对冲基金)","LU0353189763.USD":"ALLSPRING  US ALL CAP GROWTH FUND \"I\" (USD) ACC","IE00BZ1G4Q59.USD":"LEGG MASON CLEARBRIDGE US EQUITY SUSTAINABILITY LEADER \"A\"(USD) INC (A)","MCD":"麦当劳","LU0097036916.USD":"贝莱德美国增长A2 USD","BK4527":"明星科技股","LU2087621335.USD":"ALLSPRING GLOBAL FACTOR ENHANCED EQUITY \"A\" (USD) ACC","BK4592":"伊斯兰概念","LU2326559502.SGD":"Natixis Loomis Sayles US Growth Equity P/A SGD-H","IE00B1BXHZ80.USD":"Legg Mason ClearBridge - US Appreciation A Acc USD","TSLA":"特斯拉","BK4588":"碎股","LU1244550577.SGD":"FTIF - Franklin Global Multi-Asset Income A (Mdis) SGD-H1","LU2602419157.SGD":"HSBC ISLAMIC GLOBAL EQUITY INDEX \"AC\" (SGD) ACC","LU0289739343.SGD":"SUSTAINABLE GLOBAL THEMATIC PORTFOLIO \"A\" (SGD) ACC","IE00B7KXQ091.USD":"Janus Henderson Balanced A Inc USD","IE00BLSP4452.SGD":"Legg Mason ClearBridge - Tactical Dividend Income A Mdis SGD-H Plus","BK4512":"苹果概念","BK4209":"餐馆","LU0417517546.SGD":"Allianz US Equity Cl AT Acc SGD","BK4170":"电脑硬件、储存设备及电脑周边","LU0823411888.USD":"法巴消费创新基金 Cap","LU0353189680.USD":"富国美国全盘成长基金Cl A Acc","LU0719512351.SGD":"JPMorgan Funds - US Technology A (acc) SGD","BK4532":"文艺复兴科技持仓","BK4554":"元宇宙及AR概念","BK4515":"5G概念","LU0308772762.SGD":"Blackrock Global Allocation A2 SGD-H"},"translate_title":"“联邦最低工资是每小时2哈希布朗”——麦当劳的涨价让人们觉得要价过高，报酬过低","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"MCD":1,"TSLA":1,"US10Y.BOND":1,"US12M.BOND":1,"US2Y.BOND":1,"US30Y.BOND":1,"US7Y.BOND":1,"US6M.BOND":1,"US5Y.BOND":1,"US3Y.BOND":1,"US912796CX52.BOND":0.6,"US912797FH58.BOND":0.6,"US912797FS14.BOND":0.6,"US912797GB79.BOND":0.6,"US912797GK78.BOND":0.6,"US912797GL51.BOND":0.6,"US912797GW17.BOND":0.6,"US912797HE00.BOND":0.6,"US912797HG57.BOND":0.6,"US912797HH31.BOND":0.6},"content_text":"A recent Reddit thread on the Work Reform subreddit went viral for its clever way of highlighting the struggle of minimum wage earners in today’s economy. The thread, titled “Minimum Wage Has Always Been Set Too Low, But Now It’s Laughable!”, compared the stagnant federal minimum wage of $7.25 to the shocking price of a McDonald’s hash brown: $3.49. \nThe original post highlighted how the federal minimum wage of $7.25, stagnant since 2009, equates to two McDonald’s hashbrowns an hour at their current price of $3.49 each. When the minimum wage was set, a McDonald's hashbrown was just 75 cents, which is a 365.33% price hike. \nDon't Miss:\n\nAverage retirement income in America has been revealed – Will you make enough each month?\nCan you guess how many Americans successfully retire with $1,000,000 saved? The percentage may shock you.\n\nThe thread quickly became a platform for wider discourse on economic policies and corporate pricing strategies. One user posted, “Whenever I need to get fast food breakfasts, I always skip hash browns. That is soooooo overpriced for no reason. ... Who is paying $3+ for a piece of potato?” This sentiment echoed the frustrations of many who feel overcharged and underpaid.\nUsers highlighted a nostalgia for more competitive pricing and better value in the past, with one user noting, “It’s even sadder if you remember the 1990s because that seems the last time that a bit of competition between companies had portions going up for a given price. And promo deals back then didn’t require any spyware app bullsh*t either.” Another added, “The reason is always the same, too; corporate greed.”\nAmid these discussions, CNN’s February report on McDonald’s acknowledging its “affordability problem” was referenced, revealing a corporate admission that aligns with consumer sentiments. As McDonald's CEO Chris Kempczinski hinted at potential price cuts, the move signals a possible shift in how companies are responding to the growing pushback against continuous price hikes, particularly in sectors catering to lower-income consumers.\nTrending: For many first-time buyers, a house is about 3 to 5 times your household annual income – Are you making enough?\nDespite previous increases in menu prices — as much as 10% in 2023 — Kempczinski acknowledged the need to reevaluate pricing strategies to maintain customer loyalty, especially as grocery prices saw a modest rise of 1.3% in 2023 compared to the 5.2% surge in dining out costs.\nWhile many states have minimum wage standards, a report from the National Conference of State Legislatures notes that five states — Alabama, Louisiana, Mississippi, South Carolina, and Tennessee — have not adopted a state minimum wage. Georgia and Wyoming have set a minimum wage below the federal minimum of $7.25 per hour. Consequently, the federal minimum wage serves as the default baseline in these states.\nThis situation directly impacts the purchasing power of many people, particularly those reliant on minimum wage incomes in states where the cost of living may outpace wage growth. The example of McDonald’s hash browns priced at $3.49 each illustrates the challenge: In states adhering to the federal minimum wage, an hour’s labor can barely cover a small breakfast menu item, pointing to broader issues of affordability and financial security.\nGiven these economic conditions, people navigating their financial futures — whether planning for retirement, saving for a home or aiming for financial stability — might find consulting a financial adviser beneficial. Financial advisers can offer tailored strategies to manage expenses, save effectively and invest wisely, taking into account each person’s unique financial situation and goals. \nRead Next:\n\nThe average American couple has saved this much money for retirement — How do you compare?\nThis average American has $65,100 in their savings account — How do you compare?\n\n\"ACTIVE INVESTORS' SECRET WEAPON\" Supercharge Your Stock Market Game with the #1 \"news & everything else\" trading tool: Benzinga Pro - Click here to start Your 14-Day Trial Now!\nGet the latest stock analysis from Benzinga?\n\nAPPLE (AAPL): Free Stock Analysis Report\nTESLA (TSLA): Free Stock Analysis Report\n\nThis article 'Federal Minimum Wage Is 2 Hashbrowns An Hour' — McDonald's Price Hikes Are Making People Feel Overcharged And Underpaid originally appeared on Benzinga.com\n© 2024 Benzinga.com. Benzinga does not provide investment advice. 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