Minimum Wage & McDonald's Spending Journal

  • Aired:  07/22/13
  •  | Views: 114,754

Bill O'Reilly blames poverty on personal choice, and McDonald's creates a sample employee budget that excludes heat and health care. (7:24)

NATION, I'VE ALWAYS BEEN

SUSPICIOUS OF THE MINIMUM WAGE.

I'VE SAID IT BEFORE.

MINIMUM IS A MISNOMER.

$7.25?

I CAN THINK OF WAGES A LOT

LOWER.

$3.28.

$1.19.

A PAT ON THE BACK AND A HANDFUL

OF MINTS.

THERE ARE LITERALLY DOZENS OF

OTHER THINGS YOU COULD GIVE

THEM.

A BARN OWL.

AND WHEN IT COMES TO OPPOSING

THE MINIMUM WAGE, I'M IN GOOD

COMPANY WITH GUYS WHO OWN

COMPANIES.

FOR EXAMPLE, BILLIONAIRE

INDUSTRIALIST AND MY FUTURE FACE

TWIN CHARLES KOCH IN AN

INTERVIEW WITH THE WICHITA

EAGLE, THE CUTE KOCH SAID HE

WANTS TO ELIMINATE THE MINIMUM

WAGE BECAUSE IT CREATES A

CULTURE OF DEPENDENCY AND KEEPS

PEOPLE WITH LIMITED CAPITAL FROM

STARTING THEIR OWN BUSINESS.

HE IS RIGHT.

HAVING TO PAY YOUR EMPLOYEES

REALLY HURTS SMALL BUSINESS.

I MEAN, LOOK AT OUR NATION'S

FOREFATHERS.

MANY ARRIVED WITH NOTHING BUT

THE BLOUSE ON THEIR BACK BUT

THANKS TO NO MINIMUM WAGE, THEY

STARTED A BOOMING COTTON

INDUSTRY.

BUT JUST TRY EXPLAINING MACRO

ECONOMICS TO THE 10.4 MILLION

WORKING POOR.

SOME OF THEM ACTUALLY THINK THE

MINIMUM WAGE IS TOO LOW

ESPECIALLY THE FOUR MILLION WHO

WORK IN FAST FOOD.

JIM?

>> SINCE EARLY APRIL, THERE HAVE

BEEN PROTESTS BY FAST FOOD

WORKERS IN SEVEN CITIES.

>> WE CAN'T AFFORD TO LIVE ON

WHAT WE MAKE.

>> A COALITION OF GROUPS CALLING

THEMSELVES D15 HELPED ORGANIZE

THIS PROTEST AND OTHERS AT

McDONALD'S, BURGER KING,

DOMINOES AND OTHER TOP CHAINS TO

DEMAND $15 AN HOUR INSTEAD OF

$7.40.

>> Stephen: $15 AN HOUR?

THAT WOULD MAKE THE GUY AT FRY

STATION THE RICHEST MAN IN

DETROIT.

[ CHEERS AND APPLAUSE ]

I SAY YOUR FRIES ARE READY.

I SAY THE PROBLEM ISN'T THAT THE

MINIMUM WAGE IS TOO LOW.

IT'S THAT THE POORS OUT THERE

DON'T KNOW HOW TO HANDLE THEIR

CASH.

>> MANY OF THE POOR WILL USE THE

MONEY IRRESPONSIBLY.

>> THERE IS A REASON FOR POVERTY

IN AMERICA.

IT'S USUALLY PERSONAL

RESPONSIBILITY.

>> POVERTY IS NOT JUST AN

ECONOMIC PROBLEM.

IT IS A SOCIAL PROBLEM AND A

SOCIAL RESPONSIBILITY PROBLEM.

PERSONAL RESPONSIBILITY PROBLEM.

YOU KNOW THAT'S TRUE.

>> Stephen: YES, IT DOESN'T

MATTER HOW LITTLE YOU ARE PAID.

IF YOU'RE POOR, IT'S YOUR FAULT.

I GET THAT.

BUT THEN AGAIN I'M NOT POOR AND

IF I WERE, I WOULDN'T BE.

BECAUSE I WOULD TURN BEING POOR

INTO AN "OPP-POOR-TUNITY" --

OKAY, TRADEMARK -- AND

McDONALD'S AGREES WITH ME.

INSTEAD OF RAISING SALARIES

THEY'RE GIVING THEIR WORKERS

SOMETHING MORE VALUABLE THAN

MONEY: A WEBSITE.

>> IF THERE'S ANYTHING WE'VE

LEARNED IN THESE TOUGH ECONOMIC

TIMES IT'S TO BUDGET AND SAVE

FOR THE FUTURE, RIGHT?

WELL, MacDONALD'S THOUGHT IT

WAS HELPING ITS EMPLOYEES BY

GIVING THEM AN EXAMPLE OF HOW TO

DO JUST THAT ON THEIR LIMITED

SALARIES.

>> A WEBSITE LAUNCHED BY THE

CHAIN CALLED PRACTICAL MONEY

SKILL +O9R3 LIFE.

THE SITE BREAKS DOWN ON A WORKER

CAN MAKE ENDS MEET ON A

McDONALD'S SALARY SNEF YES NOT

TO BE CONFUSED WITH THEIR

DELICIOUS BURGER RECIPE WHICH

MAKES END MEAT.

AND TAKE A Mc-LOOK AT THEIR

Mc-NUGGETS OF Mc-WISDOM.

Mc-JIM.

>> EVEN SMALL THINGS ADD UP TO A

LOT OF MONEY OVER TIME.

THINK OF IT THIS WAY.

LET'S SAY YOU GO TO THE

CONVENIENCE STORE EVERYDAY FOR

GUM OR EVEN A CANDY BAR MPLE

IT'S ONLY A DOLLAR, RIGHT?

WELL, IF YOU MULTIPLY THAT

DOLLAR A DAY TIMES 365 DAYS A

YEAR, YOU'RE SPENDING $365 A

YEAR ON SNACKS ALONE.

>> Stephen: HOLD ON.

ONE SECOND.

LET ME SEE.

365 TIMES... YES, YES.

[ CHEERS AND APPLAUSE ]

TIMES ONE.

IT CHECKED OUT.

NOW, FOLKS, THE HEART OF THE

PROGRAM IS THIS DOWNLOADABLE

BUDGET JOURNAL WORKERS CAN USE

TO TRACK THEIR SPENDING.

>> WRITING DOWN AND JOURNALING

YOUR DAILY SPENDING WILL HELP

YOU UNDERSTAND WHERE YOUR MONEY

GOES.

YOU MIGHT SAY IT'S TOO MUCH

TROUBLE TO WRITE DOWN EVERYTHING

YOU SPEND BUT BEFORE YOU SAY

THAT, GIVE IT A TRY.

TRY IT FOR ONE WEEK AND SEE IF

YOU NOTICE A DIFFERENCE IN YOUR

SPENDING.

THEN TRY IT FOR AT LEAST A MONTH

TO SEE THAT YOU REALLY WILL

SPEND LESS.

>> Stephen: THEN TRY A YEAR.

THEN TRY A DECADE.

THEN 50 YEARS RM THEN ASK

YOURSELF, WHY AM I STILL WORKING

AT McDONALD'S?

I'M 86 YEARS OLD.

ALL YOU HAVE TO DO IS FOLLOW

THEIR SAMPLE MONTHLY BUDGET.

WHERE THEY ESTIMATE YOU WILL

SPEND $600 ON RENT.

$100 ON CABLE AND PHONE, AND $0

ON HEATING.

NO PROBLEM.

JUST ACCUMULATE A WARMING LAYER

OF FAT ON YOUR BODY LIKE THIS

EMPLOYEE.

AND OTHER PARTS OF THEIR SAMPLE

BUDGET ARE EQUALLY HELPFUL.

FOR HEALTH INSURANCE THEY BUDGET

$20.

NOW THE CHEAPEST MacDONALD'S

HEALTH PLAN IS $50 BUT FOR $20

YOU CAN GET A TOURNICUT, A

BOTTLE OF NIGHT TRAIN AND A BITE

STICK.

NOW YOU MIGHT BE SAYING TO

YOURSELF, STEPHEN, I CAN'T DO

ALL THIS ON A McDONALD'S

SALARY.

WELL, THAT'S WHERE YOU'RE RIGHT.

BECAUSE THE BUDGET ASSUMES

YOU'RE WORKING A SECOND JOB.

WHICH OF COURSE WON'T BE EASY

BUT THAT DOES MEAN TWO CHRISTMAS

PARTIES.

JUST BE SURE TO FILL YOUR

POCKETS WITH SHRIMP AND MAYBE A

CAN OF STERNO BECAUSE, REMEMBER,

YOU HAVE NO HEAT.

AFTER ALL THE EXPENSES HAVE BEEN

PAID YOU'RE STILL LEFT WITH $800

IN MONTHLY SPENDING MONEY FOR

ODDS AND ENDERS LIKE CLOTHING,

FOOD, AND GAS: LUCKILY YOUR

POLYESTER McDONALD'S UNIFORM

QUALIFIES AS ALL THREE.

SO IF YOU WORK TWO JOBS AT 75

HOURS A WEEK AND FOLLOW THIS

BUDGET TO THE LETTER,

McDONALD'S NONBINDINGLY

PROMISES YOU'LL HAVE $100 FOR

SAVINGS A MONTH BECAUSE

McDONALD'S SAYS, "YOU CAN HAVE

ALMOST ALMOST YOU WANT AS LONG

AS YOU PLAN AHEAD AND SAVE FOR

IT."

UNLESS THE THING YOU WANT IS

MONEY.

SO STOP COMPLAINING, FOUR

MILLION FAST FOOD WORKERS.

MacDONALD'S MAY HAVE NET A

PROFIT LAST QUARTER OF $1.39

BILLION.

BUT YOU GET A FAIR WAGE PLUS ALL

THE GREASE YOU CAN BREATHE.

FOR PETE'S SAKE AN EMPLOYEE AT A

CHICAGO McDONALD'S MAKES $8.25

AN HOUR BUT THE CEO OF

MacDONALD'S ONLY MAKES $8.75

MILLION DOLLARS A YEAR.

I MEAN 8.25, 8.75, THEY'RE

PRACTICALLY THE SAME IF YOU

DON'T CARE ABOUT MATH.

AND MacDONALD'S BUDGET

PROVES THEY DON'T.

WE'LL BE RIGHT