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The infuriating part about this is that I try showing these things to people who claimed 10 years ago that $15 min wage would lead to $35 BIG MACs.

And whenever I try to show them the results, like this, they reply with "I don't remember saying that...."

Then they wonder why I don't talk to them anymore or consider their opinions on anything.

I knew a person who thought if Hillary became president it would lead to WWIII because women in power would upset the world view of men in charge.

I just looked at him and said "So you don't have a fucking CLUE who's in power in other countries then, and remain willfully ignorant on world views."

Now, everytime I have to be around me, he's trying to tell me how in 5 years the U.S. Dollar won't exist. It will be all crypto, because it's decentralized and has no government overreach. Then he said "you can even get it at 7-11 at their ATM."

I just replied "How do you not get punched more often?"

My sister in law works high up in corporate for a California fast food chain. They did have to cut some jobs. At corporate. Boo hoo.

Because they already run at minimum staff and charge the most they think you'll pay?

B-b-b-but the armchair common sense economists swore it would! And they use “anyone can see” logic!

The people that thought it would raise prices are the same people that either can't read, or would refuse to read anything called a "study".

That's so weird. It's almost as if the majority of the money people pay for fast food is going to something other than workers' paychecks. It's also almost as if the price increases from "inflation" were lies because there seems to be plenty of margin.

That's because price points exist. People will only pay so much for fast food.

Turns out wage increases don't affect prices, just like the research has shown.

Assuming a linear relationship between price and demand, then if you increase the cost of product, the price where the most profit is generated moves by half of this amount.