Does AOC know $15 minimum wage in states like Mississippi will put people out of work?

[OnePercenter]

Uber doesn't make a profit. Three of the five companies that I own don't make a profit. Can you answer why?

Oooh! A riddle, wrapped in a mystery, inside a phony persona.

I'm not sure what the answer is - but it would be a fun party game to take turns guessing. You're the guest judge.

Who wants to go first?

Alright. I'll go first. Here's my guess:

"The reason why three of the five companies OnePercenter 'owns' don't make a profit is ..."

OK, I've studied economics a LOT, so I keep up with this stuff. They actually figured this one out back in the seventies, under Reagan. Anyway, it turns out that something like 98.75% of the time businesses fail to make a profit, it's for the same reason: they incurred more in costs than they received in revenue. That's pretty technical, and it would take a semester course to explain how it all works. But that's the reason, pretty much every time.

My guess is he has no clue on how to run a business and is losing big money on his lemonade stand, his lawn mowing service, while he makes money delivering newspapers

The answer is; It off-sets taxes from the other two.

If business A makes 2,000,000 and business B loses 500,000 then the company, providing they are both under the same corporate umbrella would pay taxes on 1,500,000. However if both businesses made a 2,500,000 then you 'd pay taxes on that. So would you rather make $2.5 million and pay taxes or would you rather make and pay taxes $1.5 million?

The other thing is if you lose money to many years the IRS can declare a business a hobby.

No. Companies 3,4, and 5 which provide product to companies 1 & 2 operate at a loss to off-set tax liability for 1 & 2.

 

[danielpalos]

dear, Capitalism has a natural rate of unemployment. it is natural for capitalism to be that inefficient. correcting for that inefficiency promotes the general welfare, it really is that simple.

Translation to English: in any free economy, there will be those who refuse to work, even when jobs are available to them. Your solution is to pretend they're working and pay them as if they were.

why do you care if they are Poor as a result? requiring a work ethic is national socialism.

Poor has nothing to do with it. We're talking about paying people who COULD support themselves but choose not to do so.

employment is at-will not for-cause. get legal to the law, right wingers.

Look up what at-will employment means and quote it here with the source. Until you do that, your argument is null and void.

i have cited the doctrine several times. you always appeal to ignorance of it.

At-will employment is generally described as follows: "any hiring is presumed to be 'at will'; that is, the employer is free to discharge individuals 'for good cause, or bad cause, or no cause at all,' and the employee is equally free to quit, strike, or otherwise cease work."--At-will employment - Wikipedia

Only the right wing insists on socially punishing the Poor with a work ethic from the Age of Iron, than improving the efficiency of our economy through better resource utilization.

 

[danielpalos]

Not yearning for the good old days, where in the Constitution does it say that a working man should pay for the lazy man?

16th Amendment

The Congress shall have power to lay and collect taxes on incomes, from whatever source derived, without apportionment among the several States, and without regard to any census or enumeration.

That doesn't say that the taxes should be used for redistribution from productive people to lazy ones, bub.

It sure doesn't. In particular, the Article 1, Section 8 says the taxes should be used for the general welfare. They were opposed to using to taxation to reward specific interests.

the right wing only complains about the Poor.

Where Is The Outrage Over Corporate Welfare?

You mean like GM, Amazon, and Facebook?

a relatively recent phenomena that the right wing doesn't believe in or support. Only the Poor, are not capitally worth it under Capitalism, for the right wing.

 

[charwin95]

This is Bear one of his favorite topic. Minimum wage. When Seattle raised the ME lots of these members.... OH MY GOD...... Seattle will collapse ..... Four years later Seattle restaurants and businesses are still growing. My relatives just opened another restaurant last year.

 

[Papageorgio]

Do you have any examples of the market being fixed?

Sure. You have two businesses, one a retail, and one a service business. Each has completely different business plans and income streams, but pay employees the same. How can that be except to pay so low that both owners can skim off the top.

That isn’t a fixed market, there is no agreement to pay the same. You also claimed the owners are skimming? Do you have proof that all businesses are skimming?

If there was any doubt you not being a business owner, all doubt is now gone. Man you are clueless.

Employers don't pay the "market price?"

Skimming? Are you telling me that business owners don't cover the personal mortgage payment? Put their wives and kids on the payroll? Their girl/boy friend on the payroll? Their car? Personal utility payments? Vacations? Vacation homes? The list is endless.

Then the employer pays himself less to reduce his personal taxes, and when you ask for a raise, he states: I didn't make much more than you, I can't afford it.

Then of course you have business profit.

It's a scam.......

So you skim money off your business? Quite the confession, you know that is all illegal, any good business keeps their business separate from the personal. Otherwise you run the risk of losing all your personal property if sued. You are one stupid moron if you really believe that all businesses run as corrupt as you. Maybe the IRS needs to look into your businesses and see how you launder money.

You are slime asshole!

Please quote the law that states skimming by an employer is illegal.

By laundering money you mean Deutsche Bank laundering Russian money and giving tRump a loan?

What is skimming? definition and meaning

I can tell you are not a businessman, because skimming is illegal.

 

[rightwinger]

If a business forces someone to take a job against their will, we should prosecute them and put the responsible parties in jail. No arbitrary regulations on wages are required, just simple laws against bullying and coercion. But that's not really what you're talking about, is it?

Of course not
People with other options are not bullied by take it or leave it offers

Those with low skills have few options. Employers can easily manipulate them in to accepting minimum wage

If low skilled people are so vulnerable to manipulation by Evul Businesses, then perhaps we should stop allowing so many low skilled illegal immigrants into the country who compete with low skilled citizens.

What you fail to see is that there are markets for labor driven by supply and demand. If someone is low skilled and doesn't like the compensation for such lack of skill, then a self-respecting person would develop skills and knowledge. That is what ENTRY LEVEL jobs provide.

I've only ever worked for minimum wage once in my life, right after high school. Definitely taught me that I didn't want to work for minimum wage.

I had minimum wage jobs during high school. I did a variety of things working my way through college, one of which was a unionized factory job during a summer break. The union was incredibly corrupt - that taught I never wanted to be part of a collective bargaining system.

My first business I owned had Union employees. I never observed "incredibly corrupt." How was your pay and benefits?

The demise of unions has lead to the crumbling of the middle class

 

[rightwinger]

This is Bear one of his favorite topic. Minimum wage. When Seattle raised the ME lots of these members.... OH MY GOD...... Seattle will collapse ..... Four years later Seattle restaurants and businesses are still growing. My relatives just opened another restaurant last year.

They always scream gloom and doom when the wage is increased

The market adjusts

 

[danielpalos]

Sure. You have two businesses, one a retail, and one a service business. Each has completely different business plans and income streams, but pay employees the same. How can that be except to pay so low that both owners can skim off the top.

That isn’t a fixed market, there is no agreement to pay the same. You also claimed the owners are skimming? Do you have proof that all businesses are skimming?

If there was any doubt you not being a business owner, all doubt is now gone. Man you are clueless.

Employers don't pay the "market price?"

Skimming? Are you telling me that business owners don't cover the personal mortgage payment? Put their wives and kids on the payroll? Their girl/boy friend on the payroll? Their car? Personal utility payments? Vacations? Vacation homes? The list is endless.

Then the employer pays himself less to reduce his personal taxes, and when you ask for a raise, he states: I didn't make much more than you, I can't afford it.

Then of course you have business profit.

It's a scam.......

So you skim money off your business? Quite the confession, you know that is all illegal, any good business keeps their business separate from the personal. Otherwise you run the risk of losing all your personal property if sued. You are one stupid moron if you really believe that all businesses run as corrupt as you. Maybe the IRS needs to look into your businesses and see how you launder money.

You are slime asshole!

Please quote the law that states skimming by an employer is illegal.

By laundering money you mean Deutsche Bank laundering Russian money and giving tRump a loan?

What is skimming? definition and meaning

I can tell you are not a businessman, because skimming is illegal.

expensing the cost of labor reduces tax liability.

 

[Slyhunter]

It sure doesn't. In particular, the Article 1, Section 8 says the taxes should be used for the general welfare. They were opposed to using to taxation to reward specific interests.

Helping poor people, disaster relief, investments in infrastructure all help our nation as a whole and support the general welfare

I'm all for helping the poor, I object to helping those that make a choice not to work and expect others to pay for their choices. That has nothing to do with "general Welfare".

Sure it does
Our society has decided we don’t want to be like the slums of Calcutta

I’ll take helping the poor over corporate greed any day

Hey RW ! I only make about $25,000 a year in "taxable income" please send me some of that cash you're so ready to help out with. My income is well below the median and I think you should put your money where your mouth is or admit you're just a Hypocrite and mouthpiece for your Socialist agenda.

Here ya go....

-Jail all employers that knowingly hire illegal aliens.

-End all worker visa programs.

-Base Federal tax for corporations at 30% of revenue.

-Raise minimum wage to $23.50/hr. Based on where minimum wage should be using 1970-2019 rise in food, shelter, and transportation.

-Eliminate all business subsidies (deductions/write-offs/write-downs) except for employee expenses which are deducted dollar-for-dollar on all city, state, and Federal taxes and fees with the Feds refunding city, State, and fees.

-Companies with unlimited employees; employee expenses above the deduction are subsidized at 100% with funds usually give back to the States.

-Adjust Social Security and private/public retirement and pension payments using 1970-2019 price structure.

-Remove the FICA limit.

-Back down ALL costs, prices, fees, to January 1, 2009 levels and hold them for 15 years which will eliminate inflation.

-Recall ALL off-shore investments tax free, and disallow any further off-shore investments.

-Make inversion illegal.

My plan would reduce business costs for employees and taxes to 30%. That's a 15%-30% drop.

My plan would put BILLIONS into the economy daily.

My plan would put the $100 trillion plus currently owned by corporate America back into the economy.

My plan would end all welfare.

My plan would significantly increase social security and pension payments.

Arrest those who hire illegals would dry up the legal employments too. You going to throw me in jail for hiring the boy down the street to mow my yard?

End all worker visas would allow a lot of jobs to go unfilled. Can't hire Americans if they are unable to do the job. And no American would want a seasonal job picking cotton.

Putting a tax holiday on revenue brought from off-shore banks into the country would work. Apple has billions tied up waiting for such a holiday. But you can't force people to not use off-shore banking. They would simply stop being Americans and headquarter their companies in other countries.

I'm tired let someone else go through the rest of your diatribe.

 

[Slyhunter]

Sure it does
Our society has decided we don’t want to be like the slums of Calcutta

I’ll take helping the poor over corporate greed any day

So if a person decides he wants to sit home all day then we need to pay for them to?

Would you rather have people banging on your front door begging for handouts?
Rather have sick people laying at the hospital door begging for treatment?

I have no sympathy for the lazy, the poor, yes, the mentally ill, yes, widows, yes, orphans, yes. The lazy? None whatsoever.

We take care of those in need, not those that are lazy. Plus we currently don't have people banging on the doors for handouts nor do we have people at hospitals begging for treatment.

We are talking broadly about using tax money for social welfare
In the absence of support, they have few other options

Social welfare pays 1:1.70 to the economy. Corporate welfare pays 1:0.0 to the economy.

Now you're starting to sound like Daniel.

 

[charwin95]

View attachment 264072

A Heritage Foundation analysis from 2016 estimated that a $15 federal minimum wage would wipe out 7 million jobs. Hardest hit would be workers, businesses, and economies in areas with low costs of living. (like Mississippi where cost of living is 87% of USA standard.
Mississippi cost of living is 87.8% Mississippi Cost of Living

Liberal activists demand a “living wage,” but the truth is that only a tiny handful of hourly wage workers make the minimum wage or less (4 percent), according to the Employment Policies Institute. On the contrary, a whopping 44 percent of hourly workers currently earn at or below the proposed $15 minimum wage.

Now consider what the $15 minimum wage would do.

For a restaurant that employs 10 minimum wage workers, a $15 minimum wage hike would cost them about $170,000 per year. If the restaurant currently earns profit margins of 5 percent, it would have to increase sales by $3.5 million per year, or an extra $67,000 every week.

But that is not realistic. The likely scenario is that they’ll either have to cut working hours or fire some workers altogether. Either way, most people are worse off than before.

Lawmakers Are Pushing a $15 Minimum Wage. Here Are 3 Disastrous Consequences That Would Result.
Robotic waiters...

View attachment 264073

I read your link. Tell me what’s wrong with your link. Technically correct but in reality literally bogus.

This group applied the same tactics about MW in Seattle.

Do you own a business? Do you know who own restaurants? Do you know who own franchises?

$15 is not a whole lot of money.

 

[Slyhunter]

If a business forces someone to take a job against their will, we should prosecute them and put the responsible parties in jail. No arbitrary regulations on wages are required, just simple laws against bullying and coercion. But that's not really what you're talking about, is it?

Of course not
People with other options are not bullied by take it or leave it offers

Those with low skills have few options. Employers can easily manipulate them in to accepting minimum wage

If low skilled people are so vulnerable to manipulation by Evul Businesses, then perhaps we should stop allowing so many low skilled illegal immigrants into the country who compete with low skilled citizens.

What you fail to see is that there are markets for labor driven by supply and demand. If someone is low skilled and doesn't like the compensation for such lack of skill, then a self-respecting person would develop skills and knowledge. That is what ENTRY LEVEL jobs provide.

I've only ever worked for minimum wage once in my life, right after high school. Definitely taught me that I didn't want to work for minimum wage.

I had minimum wage jobs during high school. I did a variety of things working my way through college, one of which was a unionized factory job during a summer break. The union was incredibly corrupt - that taught I never wanted to be part of a collective bargaining system.

My first business I owned had Union employees. I never observed "incredibly corrupt." How was your pay and benefits?

I was Union Shop Steward for the Magic Kingdom in Orlando. I got chewed out by my union boss because I didn't get other union people to stop reporting and dishing a lazy good for nothing union worker who refused to do his job during a rush. He would put his bustub down and sweep the floor with the carpet sweeper in the middle of a rush. We all used to play practical jokes on that asshole. I had to quit my job to quit the Union because there were no measures in place how to get out of the Union once in.

Friend of mine worked for General motors, lived next door when he was on his voluntary layoffs where he made half his pay to do nothing. Instead of laying off a noob who made less money per hour they would lay him off and pay half his pay. You want to know why cars were so fucking expensive?

GM paid people $25 an hour to tighten bolts for a living. That's all they did was stand there and tighten bolts as the assembly line drove by. If that isn't a minimum wage job I don't know what is. McDonald Employees work harder than them wrench turners. It's why Foreign cars are better buys.

 

[Papageorgio]

That isn’t a fixed market, there is no agreement to pay the same. You also claimed the owners are skimming? Do you have proof that all businesses are skimming?

If there was any doubt you not being a business owner, all doubt is now gone. Man you are clueless.

Employers don't pay the "market price?"

Skimming? Are you telling me that business owners don't cover the personal mortgage payment? Put their wives and kids on the payroll? Their girl/boy friend on the payroll? Their car? Personal utility payments? Vacations? Vacation homes? The list is endless.

Then the employer pays himself less to reduce his personal taxes, and when you ask for a raise, he states: I didn't make much more than you, I can't afford it.

Then of course you have business profit.

It's a scam.......

So you skim money off your business? Quite the confession, you know that is all illegal, any good business keeps their business separate from the personal. Otherwise you run the risk of losing all your personal property if sued. You are one stupid moron if you really believe that all businesses run as corrupt as you. Maybe the IRS needs to look into your businesses and see how you launder money.

You are slime asshole!

Please quote the law that states skimming by an employer is illegal.

By laundering money you mean Deutsche Bank laundering Russian money and giving tRump a loan?

What is skimming? definition and meaning

I can tell you are not a businessman, because skimming is illegal.

expensing the cost of labor reduces tax liability.

No shit Sherlock, hell you finally get one right.

 

[danielpalos]

So if a person decides he wants to sit home all day then we need to pay for them to?

Would you rather have people banging on your front door begging for handouts?
Rather have sick people laying at the hospital door begging for treatment?

I have no sympathy for the lazy, the poor, yes, the mentally ill, yes, widows, yes, orphans, yes. The lazy? None whatsoever.

We take care of those in need, not those that are lazy. Plus we currently don't have people banging on the doors for handouts nor do we have people at hospitals begging for treatment.

We are talking broadly about using tax money for social welfare
In the absence of support, they have few other options

Social welfare pays 1:1.70 to the economy. Corporate welfare pays 1:0.0 to the economy.

Now you're starting to sound like Daniel.

the Poor are simply not capitally worth, equal protection of the law for the right wing.

 

[dblack]

Uber doesn't make a profit. Three of the five companies that I own don't make a profit. Can you answer why?

Oooh! A riddle, wrapped in a mystery, inside a phony persona.

I'm not sure what the answer is - but it would be a fun party game to take turns guessing. You're the guest judge.

Who wants to go first?

It's so obvious. None of you know?

Ahh... so it's the obvious fact that you're a washed up academic with delusions of grandeur, and not really the wealthy tycoon you pretend. I knew it!

 

[OnePercenter]

Sure. You have two businesses, one a retail, and one a service business. Each has completely different business plans and income streams, but pay employees the same. How can that be except to pay so low that both owners can skim off the top.

That isn’t a fixed market, there is no agreement to pay the same. You also claimed the owners are skimming? Do you have proof that all businesses are skimming?

If there was any doubt you not being a business owner, all doubt is now gone. Man you are clueless.

Employers don't pay the "market price?"

Skimming? Are you telling me that business owners don't cover the personal mortgage payment? Put their wives and kids on the payroll? Their girl/boy friend on the payroll? Their car? Personal utility payments? Vacations? Vacation homes? The list is endless.

Then the employer pays himself less to reduce his personal taxes, and when you ask for a raise, he states: I didn't make much more than you, I can't afford it.

Then of course you have business profit.

It's a scam.......

So you skim money off your business? Quite the confession, you know that is all illegal, any good business keeps their business separate from the personal. Otherwise you run the risk of losing all your personal property if sued. You are one stupid moron if you really believe that all businesses run as corrupt as you. Maybe the IRS needs to look into your businesses and see how you launder money.

You are slime asshole!

Please quote the law that states skimming by an employer is illegal.

By laundering money you mean Deutsche Bank laundering Russian money and giving tRump a loan?

What is skimming? definition and meaning

I can tell you are not a businessman, because skimming is illegal.

I can't take a company credit card and make a mortgage payment that the company pays as long as taxes are paid on that money?

 

[captkaos]

It sure doesn't. In particular, the Article 1, Section 8 says the taxes should be used for the general welfare. They were opposed to using to taxation to reward specific interests.

Helping poor people, disaster relief, investments in infrastructure all help our nation as a whole and support the general welfare

I'm all for helping the poor, I object to helping those that make a choice not to work and expect others to pay for their choices. That has nothing to do with "general Welfare".

Sure it does
Our society has decided we don’t want to be like the slums of Calcutta

I’ll take helping the poor over corporate greed any day

So if a person decides he wants to sit home all day then we need to pay for them to?

Would you rather have people banging on your front door begging for handouts?
Rather have sick people laying at the hospital door begging for treatment?

They already do those things! Look at LA, Seattle, Miami and some others it's why the exodus is on in those city's hand outs don't cure the problem, because the handouts run out at some point!

 

[Papageorgio]

That isn’t a fixed market, there is no agreement to pay the same. You also claimed the owners are skimming? Do you have proof that all businesses are skimming?

If there was any doubt you not being a business owner, all doubt is now gone. Man you are clueless.

Employers don't pay the "market price?"

Skimming? Are you telling me that business owners don't cover the personal mortgage payment? Put their wives and kids on the payroll? Their girl/boy friend on the payroll? Their car? Personal utility payments? Vacations? Vacation homes? The list is endless.

Then the employer pays himself less to reduce his personal taxes, and when you ask for a raise, he states: I didn't make much more than you, I can't afford it.

Then of course you have business profit.

It's a scam.......

So you skim money off your business? Quite the confession, you know that is all illegal, any good business keeps their business separate from the personal. Otherwise you run the risk of losing all your personal property if sued. You are one stupid moron if you really believe that all businesses run as corrupt as you. Maybe the IRS needs to look into your businesses and see how you launder money.

You are slime asshole!

Please quote the law that states skimming by an employer is illegal.

By laundering money you mean Deutsche Bank laundering Russian money and giving tRump a loan?

What is skimming? definition and meaning

I can tell you are not a businessman, because skimming is illegal.

I can't take a company credit card and make a mortgage payment that the company pays as long as taxes are paid on that money?

It’s not your money, it’s the company’s money. You would have to show that money that as income to you and you’d be taxed on it. The business could write it off as payroll. Unless you are a sub s corp, however what you told me about your business structure that you are a sub s are you?

 

[Slyhunter]

That isn’t a fixed market, there is no agreement to pay the same. You also claimed the owners are skimming? Do you have proof that all businesses are skimming?

If there was any doubt you not being a business owner, all doubt is now gone. Man you are clueless.

Employers don't pay the "market price?"

Skimming? Are you telling me that business owners don't cover the personal mortgage payment? Put their wives and kids on the payroll? Their girl/boy friend on the payroll? Their car? Personal utility payments? Vacations? Vacation homes? The list is endless.

Then the employer pays himself less to reduce his personal taxes, and when you ask for a raise, he states: I didn't make much more than you, I can't afford it.

Then of course you have business profit.

It's a scam.......

So you skim money off your business? Quite the confession, you know that is all illegal, any good business keeps their business separate from the personal. Otherwise you run the risk of losing all your personal property if sued. You are one stupid moron if you really believe that all businesses run as corrupt as you. Maybe the IRS needs to look into your businesses and see how you launder money.

You are slime asshole!

Please quote the law that states skimming by an employer is illegal.

By laundering money you mean Deutsche Bank laundering Russian money and giving tRump a loan?

What is skimming? definition and meaning

I can tell you are not a businessman, because skimming is illegal.

I can't take a company credit card and make a mortgage payment that the company pays as long as taxes are paid on that money?

One of my previous employers used to pay his rent, electric, car payment with a company credit card and then complain about being broke. His wife used the company CC to buy jewelry with.

 

[busybee01]

It is worth noting that red states that have the lowest wages also have the highest rate of poverty in this country. Arkansas voters voted to raise the minimum wage to $11.00 by 2021. Of course Republicans are working to undo that vote. Republicans could care less about workers and are only worried about big business and their profits.