More lefties learn the glory of the 15 dollar minimum wage....unemployment.....

[OnePercenter]

Based on your absolute ignorance of math, not to mention profit margins, I'd like to see some backup.

Employee expenses are fully deductible.

 

[Mac1958]

The naivete (or is it ignorance?) on this topic is stunning.

When wages artificially increase (and they will), the first thing most businesses with a significant amount of lower-wage workers will do is cut hours. They will not increase prices yet. They will obviously slow hiring or only hire people who are willing to work fewer hours. Maybe cut benefits. Then they'll watch for a while and see how this plays out.

If they are still squeezed, the next thing they will do is drop lower-end staff and look at either discovering or purchasing efficiencies, ways to produce more with less.

Only after they have done all of the above will they increase prices to any significant degree.

The workers on the lower end will just have to deal with fewer hours and/or look for a new job. Or they could start their own business. There are only so many moving parts here.

Who said the employer couldn't afford the increase?

No one.

Everyone seems to assume they'll just "absorb" the additional costs.

Because employers are just swimming in cash 'n stuff.

.

 

[OnePercenter]

When the cost of labor goes higher than a job is worth, the job is usually replaced by automation. Teenagers used to be able to pump gas and get some experience. Now we pump our own gas. Now they flip burgers, tomorrow an automated oven will do the whole process more consistently and cheaper. Away go the jobs.

How much is a job worth that makes all the money for an business owner?

 

[OnePercenter]

If you had a diversified $2 million portfolio and lost all or most, you're OnePercenter level stupid.

If people would have heeded my advice of 'all out' I posted in August, 2007, they would have lost nothing. I lost nothing.

 

[OnePercenter]

Small business owners top concerns

Republicans continuing to bash the middle class is more important than all of the ten combined.

 

[OnePercenter]

Inflation goes up every year. If it goes up by 2% every year for 10 years, costs are up by about 20%. Thus, any positive effects of a 20% bump in the MW are gone in a decade. Bottom line, raising the MW just feeds into inflation. Better to allow the economy to grow, thus raising demand for labor and raising pay. Ever wonder why McDonald's workers in North Dakota were making $14/hour? Not because of an arbitrary MW.

Nobody in their right mind wants to live in North Dakota?

 

[OnePercenter]

No, it would merely increase labor costs to the business. That means fewer hours worked, fewer workers paid, and higher prices.

It still hasn't been established that employers can't afford it. I pay 2 to 3 times what my competition pays and I make millions in profit.

Remember, when an employer states he's not making any money, he's lying.

 

[OnePercenter]

We must raise the minimum wage until every fast food worker can afford a nice 3 bedroom in the suburbs and a big SUV. Because.....screw you Warren Buffett!

Sounds like 1956 under the pro-Union Republicans.

 

[OnePercenter]

In 2012 there were 3.6 million minimum wage workers in the US.
So they'll buy more and the other 330 million Americans will buy less.
Unless your ignorance leads you to believe people buy more stuff when the price increases?
Will people pay any price for a Big Mac? Or is there a price point where revenue decreases? Where profit decreases?

How many minimum wage workers before Bush/Republicans/corporate America crashed the economy?

 

[Toddsterpatriot]

Based on your absolute ignorance of math, not to mention profit margins, I'd like to see some backup.

Employee expenses are fully deductible.

Okay.

 

[Toddsterpatriot]

If you had a diversified $2 million portfolio and lost all or most, you're OnePercenter level stupid.

If people would have heeded my advice of 'all out' I posted in August, 2007, they would have lost nothing. I lost nothing.

That's awesome!
Maybe you can help me?
My business bought $900,000 worth of inventory and sold it for $1,000,000.
What is my business profit?

 

[Toddsterpatriot]

We must raise the minimum wage until every fast food worker can afford a nice 3 bedroom in the suburbs and a big SUV. Because.....screw you Warren Buffett!

Sounds like 1956 under the pro-Union Republicans.

Minimum wage workers could buy a 3 bedroom house in 1956?
Cool! Link?

 

[OnePercenter]

If the minimum wage was $50 just think of all the demand that spending would create !!!!! Lmfao

My plan would reduce small 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.

My plan would hold prices for 10 years, thus eliminating inflation.

Tell the Koch Brothers you failed them again!

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

-Raise minimum wage to $23.50/hr. Based on where minimum wage should be using 1970-2013 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 400 employees or less, 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 1970-2015 price structure.

-Remove the FICA limit.

-Back down ALL costs, prices, fees, to January 1, 2009 levels and hold them for 10 years which will eliminate inflation.

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

-Make inversion illegal.

 

[Flopper]

In 2012 there were 3.6 million minimum wage workers in the US.
So they'll buy more and the other 330 million Americans will buy less.
Unless your ignorance leads you to believe people buy more stuff when the price increases?
Will people pay any price for a Big Mac? Or is there a price point where revenue decreases? Where profit decreases?

More likely that McDonalds installs automated burger flippers and fires half the staff at each store.

More likely because it has never happened? Sorry min wage has increased many times and your claims have never happened.

Like I said, if you keep it low enough, and make the increases small enough and far enough apart, you can raise the MW without too much impact on jobs. However, even you have to admit that raising it to $100/hr right now cannot happen without a massive impact. Even with keeping MW low enough to not really matter, manual, low skilled jobs ARE disappearing and will continue to disappear with the combined forces of artificial labor cost increases and reduction in automation costs. IOW, as long as you keep the MW low enough that it really doesn't matter, you can raise it. Just don't be surprised when more low skill, low paying jobs disappear.

Obviously you can't increase it to 100. You can't increase it to match the wages of skilled and educated workers. But we are talking about making poor people a little less poor, not making them rich.

Finally, you admit reality. Yes, raising the MW too high WILL impact jobs. If you want to raise it without impacting jobs, you have to keep it low enough that it won't matter, and it will be wiped out in a few years by inflation.

Yes, you could certainly raise minimum wage so high that it would impact jobs just as you could raise interest so high as to create a credit crisis, or government spending so high that it would result in significant inflation.

However, if your saying moderate increases in minimum wage will create enough inflation to wipe out the gains, I have to disagree with you because all employers do not just pass all costs due to the increases in wages to customers. Also, there are a number of other factors that can out weight any effect minimum wage increase have on inflation.

 

[syonidv]

Anybody generally supportive of an inflation-indexed minimum wage adjusted every 5 years? I'm seeing a lot of "hike it into the stratosphere" and a lot of "keep it where it is" from sampling posts, not a lot of middle ground.

 

[OnePercenter]

I'm less worried about economy wide inflation than I am in reduced employment of low skilled workers.
If you increase wages beyond what the worker can produce, increased sales won't matter. You'll just incentivize automation.

Doesn't technology allow the employee to produce more? Or are you still promoting the hamburger flipping robot that won't work?

 

[Ernie S.]

Based on your absolute ignorance of math, not to mention profit margins, I'd like to see some backup.

Employee expenses are fully deductible.

You really don't understand what fully deductible means, do you?

 

[Flopper]

No, it would merely increase labor costs to the business. That means fewer hours worked, fewer workers paid, and higher prices.

It still hasn't been established that employers can't afford it. I pay 2 to 3 times what my competition pays and I make millions in profit.

Remember, when an employer states he's not making any money, he's lying.

Businesses like people are different. Some look for ways of increasing revenue, others look for ways of reducing cost. Others do nothing and absorb the cost.

 

[OnePercenter]

And I was right. They dont take it into account.
And I didnt see a thing about doubling the min wage.
Give em a buck and tell em to get back to the damn fryer.

Who died and made you the head autocratic creep?

 

[Ernie S.]

If you had a diversified $2 million portfolio and lost all or most, you're OnePercenter level stupid.

If people would have heeded my advice of 'all out' I posted in August, 2007, they would have lost nothing. I lost nothing.

That's awesome!
Maybe you can help me?
My business bought $900,000 worth of inventory and sold it for $1,000,000.
What is my business profit?

He wants you to pay taxes on 1.9 mil.