protectionist
Diamond Member
- Oct 20, 2013
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salaries are not a "tax deduction" they are on the expense side of your Schedule C. income minus expenses = taxable profit.
when a business is forced to increase its labor cost, its profit goes down unless it increases the price of its products by a like amount.
but this whole minimum wage discussion is a red herring, only 1% of american workers make minimum wage and the vast majority of them are part time teens.
its a false issue pushed by the dems and media as a way to divide the country.
Now that is funny. You think MacDonald s and Walmart file sch C's? LMAO.
1% (your number) makes minimum wage. And yet that one percent is going to severely impact the profitability of multi billion dollar companies. What you mean to say is that the top 3 percent of executives might not get their multi million dollar bonuses. Like any one should give a flying fuck if some executive who is already overpaid doesn't get his millions in bonus.
But back to that 1% comment. Why in the hell are you repubs so batshit crazy over a minimal wage increase for 1% of the workforce?
Don't you think that makes you all look a little petty?
Of course McDonalds restaurants file Schedule C's. every small and large business has to do that.
The point is that raising the minimum wage will cause these businesses to either reduce staff or raise the price of a burger. Do you think an individual McDonalds makes a high profit margin and can just absorb higher labor costs?
It will have zero affect on the CEO's bonus. It will only affect the part timers who are let go and/or the consumers of burgers who will have to pay more for each burger.
Its really a tiny issue that has been blown up to create another wedge issue between the rich and poor. Its propaganda.
How can so many people be so incredibly IGNORANT about simple business economics ? Good lord! Didn't any of you people ever go to school ? Sellers CAN'T raise prices. Sellers CAN'T reduce staff. And YES, sellers CAN absorb higher labor costs. Ever hear of higher disposable income ? Ever hear of increased SALES$$$ ? Pheeeeeeeww!! (high-pitched whistle) Go back and read the thread. I've explained this all 20 times now. Get with it, guys!! You all are clearly not prepared for this discussion.
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