Yet another way to shift money from the public to the wealthy . . .
In 2012, fast food workers needed $7 billion in welfare, etc. to make ends meet, meanwhile fast food companies earned over $7 billion in profit and distributed over $7 billion to shareholders and executives (washingtonpost.com)
Taxpayers are spending nearly $7 billion a year to supplement the wages of fast-food workers, even as . . . the nation’s seven largest publicly traded fast-food companies netted a combined $7.4 billion in profits last year, while paying out $53 million in salaries to their top executives and distributing $7.7 billion to shareholders. (Source)
Here’s how the scam works:
- Pay low wages to fast food workers
- Limit worker’s hours (part-time workers don’t qualify for health insurance)
- Let workers supplement their wages with $7 B in Government “assistance” (food stamps, welfare, Obamacare, etc.)
- “Earn” $7 B in profit!
Don’t call it a Government subsidy–although it is.
Don’t call it socialism–although it is.
Call it what it is, a scam.
- Study: Low Fast Food Wages Cost Taxpayers $7 Billion Per Year (gawker.com)
- McDonald’s Low Wages Come With $7 Billion Side of Welfare (businessweek.com)
- Fast-Food Giants Make Billions While Workers Use Billions In Welfare Benefits (alternet.org)
- Many fast-food workers are living in poverty: Report
- The Onion: McDonald’s Employee Just In It For The Money