[csbrooks]

Is it really true that the minimum wage before was JUST at the point where replacing workers wasn't worth the cost, and now it's going just over that threshold?

If they can find a way to replace workers with machines, my guess is they will. My local walmart has one worker managing about ten self-checkout stations now. Panera Bread has stations where you order your food; no cashier needed. And the wage they are paying here is well above minimum wage, anyway.

CEOs will eliminate all the employees they can, because they consider that their job. And then they'll give out executive bonuses as massive as they can get away with.

There is no reason why the minimum wage should be so low that no one could make a living off it.

[harryh]

The Federal minimum wage is $7.25/hr. At 2,000 hours a year (a full time job) that's $14,500 which is above the poverty level for a family of 1 ($12,060) and pretty close to the poverty level for a family of 2 ($16,240).

Just in case anyone was curious.

[pythonaut_16]

At the same time, those same CEOs will create jobs and add employees if they think it will drive revenue or improve the business.

An easy example with the fast food restaurants is that they keep opening new locations.

[pc86]

Aren't most fast food restaurants franchises, and the individual corporations running them own a handful in a fairly constrained geographic area? There are 3-4 companies that own the various McDonalds locations in my area and I don't think any of them own more than 3.