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

[OnePercenter]

Its an empty argument....

Any increase in labor will not be a absorbed by the company. Hours will be cut, a job will be lost, prices will rise. Any combination youd prefer.

One third of minimum wage earners are overpaid, another third underpaid...

And no min wage increase has ever lifted anyone out of poverty. Poverty rates have remained the same, as 60% of those in poverty dont work....

Its an empty gesture to the dim witted for their votes.....

It still hasn't been established that employers can't afford a wage increase.

 

[Spare_change]

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.

Given that my "inflation-indexed" retirement has increased an average of less than 1% over the past five years, I'm pretty sure that won't work.

 

[HereWeGoAgain]

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?

Jesus.

 

[Toddsterpatriot]

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?

Doesn't technology allow the employee to produce more?

You bet! Technology could allow one employee to do the work of three.
The other two are deeply saddened.

 

[Flopper]

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.

There of 10 states,AZ, CO, FL, MO, MT, NJ, NV, OH, OR, and WA that index minimum wage to inflation. Senate Democrats are proposing this.

 

[OnePercenter]

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.

Thank You!

 

[OnePercenter]

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?

What period of time did this occur?

 

[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.

Given that my "inflation-indexed" retirement has increased an average of less than 1% over the past five years, I'm pretty sure that won't work.

I mean linked to the CPI. It hasn't moved too much in the last five years, but that would actually outperform the US median wage, which has decreased over the same period.

I think the historical average of the CPI is about 3.5%/ann. Since it's theoretically supposed to be linked to the cost of a fixed set of goods (i.e. a fixed standard of living), it seems like the most reasonable basis on which to adjust the minimum wage.

 

[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.

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

The average house in 1956 was $22K, or $53.00/mo. Minimum wage was $172.00/mo.

 

[Toddsterpatriot]

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?

What period of time did this occur?

2014.

 

[OnePercenter]

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

Sure I do. Fully deductible means you pay less taxes. Take the tax savings and subtract from the cost for your net.

 

[LogikAndReazon]

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.

Good luck with that fantastic idiocy....

 

[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?

The average house in 1956 was $22K, or $53.00/mo. Minimum wage was $172.00/mo.

$53 x 12 x 30 = $19080. At 0%. With no property taxes.
Your math is off.

 

[OnePercenter]

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.

Smart business owners are continually seeking additional revenue streams.

I own the leasing company that leases vehicles and equipment to my company AND my competitors.

I own two of the suppliers that supply equipment to my company AND my competitors.

I own the maintenance company that maintains and leases space on towers that my company AND my competitors erected.

....and I'm still not done.

 

[OnePercenter]

Doesn't technology allow the employee to produce more?

You bet! Technology could allow one employee to do the work of three.
The other two are deeply saddened.

Sure, and the three each use technology keeping your workforce and increase sales.

 

[Toddsterpatriot]

Doesn't technology allow the employee to produce more?

You bet! Technology could allow one employee to do the work of three.
The other two are deeply saddened.

Sure, and the three each use technology keeping your workforce and increase sales.

The three? Sorry, technology has reduced my need for employees by two-thirds.

 

[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.

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

The average house in 1956 was $22K, or $53.00/mo. Minimum wage was $172.00/mo.

$53 x 12 x 30 = $19080. At 0%. With no property taxes.
Your math is off.

Down payment? $53.00/mo was the average mortgage payment.

 

[OnePercenter]

The three? Sorry, technology has reduced my need for employees by two-thirds.

Technology increases sales. Won't you need increased employees?

Also, most technology has more to do with quality control and hazardous duty.

 

[Spare_change]

Its an empty argument....

Any increase in labor will not be a absorbed by the company. Hours will be cut, a job will be lost, prices will rise. Any combination youd prefer.

One third of minimum wage earners are overpaid, another third underpaid...

And no min wage increase has ever lifted anyone out of poverty. Poverty rates have remained the same, as 60% of those in poverty dont work....

Its an empty gesture to the dim witted for their votes.....

It still hasn't been established that employers can't afford a wage increase.

Let's see if we can put this to bed once and for all ---

1. The average profit for a small business is $66,000/year. An Investigative Report on Franchise Profits
2. The average profit margin is 10.28%. What Is the Average Profit Margin for a Small Business Chron.com
3. Restaurants use what is called the "30-30-30" model. (30% for labor, 30% for materials, 30% for facilities).
4. $66K profit (10% of gross) means approximately $675K in revenue.
5. 30% of revenue (for labor) means available labor dollars of $191.5K/year
6. The average fast food restaurant employs 15.71 workers. Employees per establishment in the U.S. fast food industry 2018 Statistic
7. The median wage for fast food workers is $8.69/hr Fast Food Poverty Wages The Public Cost of Low-Wage Jobs in the Fast-Food Industry Center for Labor Research and Education
8. At $8/hour, each worker would be required to work 1,523 hours to earn his/her labor dollars.
9. At $15/hour, each work would be required to work 812 hours to earn his/her salary.

Based on those statistics, the owner would have five choices:

1) Cut the number of hours worked for each employer by 711 hours and hire an additional 7.5 workers to cover the labor hour shortfall, further exacerbating the problem (an additional 7.5 workers would cost approximately $90,000).
2) Increase his labor costs to $280,000/year. ($191K current labor costs + $90,000 new labor costs)
3) Assuming no increase in profit, cost of materials, or cost of facilities, raise his prices to generate a new total revenue of $765K/year, a price increase of 13.3%. ($675K previous revenue + $90,000 in new labor costs)
4) Hold his product price line, sacrifice ALL profit, and still go in the hole $24K)

or:

5) Close his business down, putting everybody out of work.

There are, of course, alternatives - he can reduce the quality of his product, he can close earlier/open later, he can have fewer server people on duty - all of which will negatively impact the customer experience, and drive customers away. Or, as we've seen lately, he can being to automate his processes.

 

[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.

Good luck with that fantastic idiocy....

Vote out Republicans and help your Kids and Grand Kids.