I just… I can’t…. I have no words. Just watch:
This corporate greed is out of control. These low-income workers can’t make ends meet with the poverty wages they are paying — yet McDonalds is one of the most profitable companies in the world. In just the last quarter, McDonalds paid $1.3 billion in profits to shareholders. Their CEO, Don Thompson, got paid $13.8 million last year (and the CEO before him got $27.7 million.)
As Thompson himself stated, the company is “committed to enhancing shareholder value through disciplined investments that support our long-term growth opportunities.”
Huh, what do you think those disciplined investments and long-term growth opportunities are? My money is on figuring out ways to squeeze their employees even more. The truth is, their commitment to identify profits for their shareholders comes at too steep a cost. Not just to the McDonalds employees themselves, who absolutely can not make a living wage, but to all of us.
Because the dirty secret is that taxpayers are paying for McDonald’s low-wage policies. As Business Week reported, taxpayers end up subsidizing the world’s largest fast food chain to the tune of $1.2 billion each year since 2007, since McDonalds workers are forced to rely on SNAP food assistance and other government assistance just to ensure basic needs.
It’s time for Americans to stand up to corporations and fight back. Because it’s clear that the corporations enacting these policies are willing to do anything it takes to boost their own profits — even if it means attacking wages, hours, and benefits for working Americans.