I was watching "The Daily Show" with Jon Stewart that I had DVRed on Tivo last night while I was asleep. He was talking about the minimum wage and how fast food workers were demonstrating for 15 dollars an hour. He played new program clips from Fox News and from CNBC regarding paying, "Why don't we pay them $100,000 dollars and hour?" If you ever owned a business, you know that hamburgers would also cost about $100,000 each and this is why you don't pay workers $100,000 an hour. So, there would be no fast food jobs at all if you paid people $100,000 an hour because no one is going to pay $100,000 for a hamburger. However, people might pay $10 to $15 for a hamburger which is what they would have to charge in order to pay workers $10 to $15 an hour.
Do the workers need $10 to $15 an hour. Of course. But that is not the real question. The question is will people buy what their company is selling if they are paid $10 to $15 an hour and then have to pay $10 to $15 for a hamburger?
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