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MCDONALD’S LOSING LOW-INCOME CUSTOMERS IS FRESH PROOF BIDENOMICS IS BUNK
By
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Published Feb. 6, 2024, 6:05 p.m. ET
Thanks to Bidenomics, low-income folks are ditching not-so-Happy Meals as dining
at McDonald's is out of their price range. REUTERS
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Would you like a side of sticker shock with that?
Thanks to Bidenomics, low-income folks are ditching not-so-Happy Meals as dining
at McDonald’s is out of their price range.
Facing astronomically high food costs, the chain’s prices skyrocketed 10% last
year, with a Big Mac combo meal setting customers in some areas back $18; hikes
this year are set to run another 2% to 3%.
As a result, Mickey D’s global sales are sluggish, so CEO Chris Kempczinski is
promising to focus on “affordability” to try luring costumers back.
But it’s not just the eatery’s prices keeping customers home: With inflation
still stinging Americans, diners who make less than $45,000 a year, historically
the chain’s bread-and-butter clientele, are spending less on eating out.
And there’s only so much McDonald’s c-suite can do.
Inflation and other progressive policies are a perfect storm for higher costs.
Individual stores are owned by franchisees, who must take local factors into
consideration when setting prices, so a Quarter Pounder will put a bigger dent
in your wallet in ultra-blue states like Massachusetts, Vermont, California and
New York, where the left has successfully bumped the minimum wage.
Indeed, Cali’s boosting the minimum to $20 an hour: No more cheap fast food
there!
Oh, and the left is pushing nationally for laws that treat workers at franchises
as if they work for the national corporation — an upending of the business model
that’ll further goose prices and potentially close hundreds of outlets.
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McDonald’s is famous for the number of its managers who started off flipping
burgers; destroying that ladder of success is a real blow to upward mobility in
America.
Do progressives care that their policies keep hurting the very people they’re
supposed to help?
144
What do you think? Post a comment.
When a night out at McDonald’s is now a luxury for many Americans, its obvious
why President Biden is getting slammed in polls over his handling of the
economy.
Voters are learning that when a Democrat is in charge, your McDouble will cost
double.
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