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Who's going to do the work of the 1.4 million?
It's not as if employers keep surplus workers around the shop just in case.
THAT is exactly why 3% unemployment is considered to be "full employment".Who's going to do the work of the 1.4 million?
It's not as if employers keep surplus workers around the shop just in case.
And of course scummy business owners look first to "saving a little money" on the backs of the labor they need to do ANYTHINGThere are millions of ways to save a little money here and there
THAT is exactly why 3% unemployment is considered to be "full employment".Who's going to do the work of the 1.4 million?
It's not as if employers keep surplus workers around the shop just in case.
It's not of course but business NEEDS that 3% to be desperate enough to take whatever job is available. And of course desperate workers...will accept jobs that pay shit because the alternative is no alternative
Have you ever tried to cook a turkey? To do it right, you start days before Thanksgiving thawing it out, then hours before dinner you put it in the oven and it roasts gently until you pull it out, carve it and everyone enjoys. Or, you can wait until Thanksgiving morning, Plop the frozen turkey in the oven and turn it up to 600 degrees. Think you'll get a good result?The "mad leap to double the minimum wage" is because it had not been raised for around decade and inflation still happened.I believe this is the true driving fear behind the mad leap to double the MW, the proponents realize the federal MW is being revealed as irrelevant because cities and states are already setting their own MW higher. In fact, they should be demonstrating against and petitioning their local governments to raise the local MW, not Washington.Funny I just looked up mississippi/mcdonald's on indeed they are starting over minimum wageMom and pop shops are not the entities that benefit from ultra low wages.Politics do often make strange bedfellows. For example, Liberals hate corporations, and often blame them for putting 'mom & pop shops' out of business. On the other hand however, Liberals are in favor of Government stepping in and artificially raising the cost of labor, which ravages the same 'mom & pop shops' who are less capable of absorbing this distortion in the market process.
So in reality, Liberals are in FAVOR of government stepping in to assist corporations in driving small businesses OUT of business.
Not all liberals are idiots, but... wait, yeah they are.
That's fast food joints and at packing plants
Crew
McDonald’s
196,378 reviews
Booneville, MS 38829
Job
Company
Insights
Job details
Salary
$7.50 - $9.00 an hour
Likewise, the economy can adjust to higher costs, if it has the time to do so. Double the MW overnight and it can't. 60%+ of the workforce earns $20/hr or less and most of them would either get or demand a big raise. In your fantasy, every worker would just get a big raise and go spend it but that's not reality. Reality is, SOME workers would get a raise while MANY others would get laid off, prices would rise sharply instead of gradually and a lot of companies would just close up, putting everyone out of work. I can't believe we still have to do this education.
Besides all of that, are not cities and states setting their own MW higher than the federal?
If I had to double the pay of a worker I would expect him to do more work.And of course scummy business owners look first to "saving a little money" on the backs of the labor they need to do ANYTHINGThere are millions of ways to save a little money here and there
It is about the minimum wage. Inflation impacts the cost of goods sold. You recalculate your profit margin and move forward.Said no business owner...everIf there isn't enough left over after taking into account materials and wages, rent and taxes won't matter
Go away
Should an employee be paid more or less than the value they add?
Still a disingenuous argument. If the cost of goods goes up you either pass on the cost to consumers or find other ways to cut costs.Said no business owner...everIf there isn't enough left over after taking into account materials and wages, rent and taxes won't matter
Go away
Of course they have. They do that all the time. In fact, that's pretty much the basis of all business.
If I can't make enough profit off the businesses to justify it... then I close the business and move on.
Do you know how much an average McDonald's franchise owner has put into that Franchise?
The minimum amount is about $1 Million dollars, and goes up to $2.2 Million.
Plus you are required to have no less than $500K in cash. Meaning cash you didn't borrow.
So you are suggesting to me, that you are going to spend $500,000 of your own money that you earned elsewhere, and then borrow between a half million to two million in debt, to run a business.... and not consider how much profit you make on that business?
Really? You going to pay your employees $20/hours, and take home... what? A middle class income of $50,000 a year?
Of course not. You'd be lying to say you would even consider that. Go Millions in debt, and lose half a million of your hard earned money, in order to make the same amount of money as a Walmart manager? No one would do that.
You would either not open the business at all, or you would try and sell off the business as quickly as possible and pay back your millions in debt.
You are lying if you deny that.
And of course scummy business owners look first to "saving a little money" on the backs of the labor they need to do ANYTHINGThere are millions of ways to save a little money here and there
Only illegals don't care about the minimum wage Law.If you can't afford to pay your workers a decent wage...either make something else or make them yourself. Oh you can't make enough?Me, because mine are higher quality, and yours are shit. Walmart and Target initially went with you, but after a slew of negative reviews, complaints, and returns by customers, they decided to go with mine. You still sell yours on Amazon, but most get 1 star reviews.
If the American consumer cared about quality, we wouldn't have half the Chinese crap in our houses that we have today. When it comes to widgets, there is only one way to make them. They are not a work of art. It's like paying a guy to turn nuts onto bolts. If you pay your worker $17.00 per hour to turn nuts onto bolts, and I'm paying my worker $9.00 to turn nuts onto bolts, your worker is not going to turn them any better than mine.
NOW you see the value of their labor. Pay them accordingly
Not to worry, when the new wave of illegals get here we can pay them half as much...dumbass.
It is about the minimum wage. Inflation impacts the cost of goods sold. You recalculate your profit margin and move forward.Said no business owner...everIf there isn't enough left over after taking into account materials and wages, rent and taxes won't matter
Go away
Should an employee be paid more or less than the value they add?
Oh, look; a right winger with nothing but ad hominems instead of any valid arguments.How much minimum wage labor is employed making widgets? Someone going from nine dollars an hour to fifteen dollars will spend more money in their local economy. Anyone making fifteen dollars an hour could afford to eat out more often.No, they won't.
If I'm selling 100 widgets a day, and I'm paying my employees $9.00, there's not going to magically be increased demand for widgets if I start paying them $15 an hour. Furthermore, the people who then get paid $15 an hour aren't magically going to have more buying power, simply because prices will go up and their $15 isn't going to go anywhere close to what they thought...
You really are almost too stupid to converse with>>>
Only illegals don't care about the minimum wage Law.If you can't afford to pay your workers a decent wage...either make something else or make them yourself. Oh you can't make enough?Me, because mine are higher quality, and yours are shit. Walmart and Target initially went with you, but after a slew of negative reviews, complaints, and returns by customers, they decided to go with mine. You still sell yours on Amazon, but most get 1 star reviews.
If the American consumer cared about quality, we wouldn't have half the Chinese crap in our houses that we have today. When it comes to widgets, there is only one way to make them. They are not a work of art. It's like paying a guy to turn nuts onto bolts. If you pay your worker $17.00 per hour to turn nuts onto bolts, and I'm paying my worker $9.00 to turn nuts onto bolts, your worker is not going to turn them any better than mine.
NOW you see the value of their labor. Pay them accordingly
Not to worry, when the new wave of illegals get here we can pay them half as much...dumbass.
Tax breaks to help with that adjustment would be a rational choice not merely giving out tax breaks like candy as the previous administration did.Have you ever tried to cook a turkey? To do it right, you start days before Thanksgiving thawing it out, then hours before dinner you put it in the oven and it roasts gently until you pull it out, carve it and everyone enjoys. Or, you can wait until Thanksgiving morning, Plop the frozen turkey in the oven and turn it up to 600 degrees. Think you'll get a good result?
Likewise, the economy can adjust to higher costs, if it has the time to do so. Double the MW overnight and it can't. 60%+ of the workforce earns $20/hr or less and most of them would either get or demand a big raise. In your fantasy, every worker would just get a big raise and go spend it but that's not reality. Reality is, SOME workers would get a raise while MANY others would get laid off, prices would rise sharply instead of gradually and a lot of companies would just close up, putting everyone out of work. I can't believe we still have to do this education.
Besides all of that, are not cities and states setting their own MW higher than the federal?
Oh, look; a right winger with nothing but ad hominems instead of any valid arguments.How much minimum wage labor is employed making widgets? Someone going from nine dollars an hour to fifteen dollars will spend more money in their local economy. Anyone making fifteen dollars an hour could afford to eat out more often.No, they won't.
If I'm selling 100 widgets a day, and I'm paying my employees $9.00, there's not going to magically be increased demand for widgets if I start paying them $15 an hour. Furthermore, the people who then get paid $15 an hour aren't magically going to have more buying power, simply because prices will go up and their $15 isn't going to go anywhere close to what they thought...
You really are almost too stupid to converse with>>>
If the cost of goods won't double, then the multiplier will have some effect since higher paid labor can create more in demand and generate more in tax revenue.OK I never said the cost of goods would double so cut the fucking shit.
And the problem is minimum wage jobs aren't in high demand and never will be because any moron who can tie his shoes can get one. Even you
And there is no multiplier when people lose their jobs.
That was 95% tax after your first 10 million.How did the war save the day then but wars in 2000s didn’t save the day?Why didn’t Afghanistan and Iraq save the day?So what? Biden is planning to create a bunch of new jobs in green energy, education, infrastructure and health care.
CBO: Biden’s $15 Minimum Wage Would
Result in a Loss of 1.4 Million Jobs
Why Do This? Because the Democrats know what's best for you...and because they CAN.
CBO: Biden's $15 Minimum Wage Would Result in a Loss of 1.4 Million Jobs
Putting money in people's pockets increases the demand for restaurants, home improvement, vacations, entertainment, new clothes, etc. and all those industries will have to go on a hiring spree to meet the demand.
and 900,000 lifted out of poverty.
I have looked over the last 20 years and I haven't found one President that has created one job other than a new position on his staff or cabinet. Over the same time span I have seen American entrepreneurs create thousands and thousands of new jobs.
The other thing you said is that it is going to bring 900,000 out of poverty which is great, however the CBO says that 1,400,000 will lose jobs, so our net will be a negative 500,000. So I'm not seeing that as a positive.
After the Republican Great Depression, FDR put this nation back to work, in part by raising taxes on income above $3 to $4 million a year (in today's dollars) to 91 percent, and corporate taxes to over 50% of profits. The revenue from those income taxes built dams, roads, bridges, sewers, water systems, schools, hospitals, train stations, railways, an interstate highway system, and airports. It educated a generation returning from World War II. It acted as a cap on the rare but occasional obsessively greedy person taking so much out of the economy that it impoverished the rest of us.
But the rich fought back, and won big-time in 1980 when Reagan promptly cut income taxes on the very rich from 70% down to 27%. Corporate tax rates were also cut so severely that they went from representing over 33% of total federal tax receipts in 1951 to less than 9% in 1983 (they're still in that neighborhood, the lowest in the industrialized world).
The result was devastating. Our government was suddenly so badly awash in red ink that Reagan doubled the tax paid only by people earning less than $40,000/year (FICA), and then began borrowing from the huge surplus this new tax was accumulating in the Social Security Trust Fund. Even with that, Reagan had to borrow more money in his 8 years than the sum total of all presidents from George Washington to Jimmy Carter combined.
In addition to badly throwing the nation into debt, Reagan's tax cut blew out the ceiling on the accumulation of wealth, leading to a new Gilded Age and the rise of a generation of super-wealthy that hadn't been seen since the Robber Baron era of the 1890s or the Roaring 20s.
And, most tragically, Reagan's tax cuts caused America to stop investing in infrastructure. As a nation, we've been coasting since the early 1980s, living on borrowed money while we burn through (in some cases literally) the hospitals, roads, bridges, steam tunnels, and other infrastructure we built in the Golden Age of the Middle Class between the 1940s and the 1980s.
We even stopped investing in the intellectual infrastructure of this nation: college education. A degree that a student in the 1970s could have paid for by working as a waitress now means incurring massive and life-altering debt for all but the very wealthy. Reagan, who as governor ended free tuition at the University of California, put into place the foundations for the explosion in college tuition we see today.
Roll Back the Reagan Tax Cuts | Common Dreams
Our bridges are falling apart (among other things), and its Ronald Reagan's fault. A few hours before the bridge collapsed in Minnesota, a news release landed (among hundreds) in my email inbox. It was from the right-wing "Heartland Institute" and a Minnesota conservative group calling itself...www.commondreams.org
Sure he did. All those jobs were paid for with tax dollars. He had companies paying as high as 95% so they couldn't hire. Everything he did extended the GP.
WWII saved the day. Not FDR.
It was WWII dummy. 1940-1945.
Fdr saved the day after the war by raising taxes on the rich and using the money to build infrastructure
No he extended the GD with everything he did. No one could hire when they were being taxed at 95% or better. WWII brought us out of it because we had to produce the machines for war. We produced like no other country could have done. That's what saved us. Not FDR.
Do some research. I did. I used to think FDR was a great POTUS. After researching him and the GD I found out different.
Of course they will. Fifteen dollars an hour buy more than half of that.no it won't because the people who make 15 an hour or more now will not be able to buy as much stuff
The CBO is forecasting a loss of jobs because they know that if labor costs increase then the cost of their products increase and people will buy less if that increase reaches a certain threshold
Of course thats what Japanese vehicle owners tell themselves.I buy ford. Of course I have the A plan but even without I looked into if there was a cheaper foreign car and guess what? There isn’t. They’re just as expensive.
Perhaps, but they are better built and you have less problems with Japanese vehicles; at least that's my experience and every Japanese vehicle owner I know says the same thing.
One of the first things I noticed about my first Toyota was the windshield washing fluid lines. There are none. The squirters are in the hood of the car, not on the wiper arm. This is valuable up north because those things constantly freeze in the winter. I used to buy special expensive windshield washer fluid that didn't freeze. Now I just use regular windshield washing fluid and never had that problem since.
