When I was in college, McDonald’s hamburgers were 15c each. On a Sunday afternoon, I’d order 4, get a coke and some French fries and get change back from a dollar bill.
Times have changed.
Today (though prices vary from store to store) a Big Mac, Large Coke and Large Fries will set you back about $12.50. Add a buck and a quarter for Meal’s Tax and the total is now $14. If you are feeding a family of four, the tally is $56 for a trip to the Golden Arches. That’s enough to make well-to-do families think twice and now many low-income families can forget about it.
It’s called inflation.
Not only have food, freight and utility prices increased, but wages for fast food restaurants have also skyrocketed. When you have to pay $16 an hour to an employee whose sole responsibility is to say, “May I take your order?” – that’s significant.
$16 an hour may not sound like a lot, unless you’re writing checks for the payroll. Without overtime or bonuses, $16 an hour works out to an annual salary of $33,280. Add in Social Security, workman’s comp and benefits and the total is now over $50,000 a year. For one employee.
I am not an economist, but I don’t see prices for a Big Mac coming down anytime soon. Unless we have a serious recession or a depression, wages will stay high as will prices on goods and services.
Like dinosaurs, 15 cent hamburgers are definitely a thing of the past.
