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

[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.

Since 4 out of 5 businesses fail in the first 5 years, obviously all business owners aren't as savvy as you.

To compete in today's environment you need three things.

1. Five years operating capital.
2. Know who to hire which you can farm out.
3. Never, ever, ever, hire family

 

[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.

What was your operating cost?

Have you figured out my business profit yet?

You drop ship everything and net $80K/yr.

I paid nothing for shipping. What's my profit?

 

[timslash]

Yep, sad that lefties always fights for increasing of minimum wage and shout about equal payment to all, while we haven't got enough workplaces and i really hope that one day - they will open their eyes and will understand that they're not as smart as they think!

 

[Politico]

And eventually they'll whine more investment is needed

Or just occupy. That's what Millennials do.

 

[Mac1958]

To compete in today's environment you need three things.

1. Five years operating capital.
2. Know who to hire which you can farm out.
3. Never, ever, ever, hire family

Wow, that's it?

It's that easy, wow! Who knew!!



.

 

[Friends]

Most minimum wage jobs are easy to learn but they cannot be automated or shipped overseas. When the minimum wage goes up those who hire minimum wage workers have no choice but to pay the increase.

Arguments against raising the minimum wage never change, but they have never been verified. There is no relationship between raising the minimum wage and increases in unemployment.

 

[Brain357]

The length of implementation is a moot point --- the financial impact is the same

Hardly. More time gives the business more time to grow and increase profits to cover increased labor. Also increasing pricing a little each year would be far more acceptable to customers.

Their prices go up, their service goes down --- and you anticipate business growth? Seriously?

Yes. Customers have more income. Prices may not have to go up. If prices go up, so will prices of competition. Service will not go down.

 

[Brain357]

What period of time did this occur?

2014.

What was your operating cost?

Have you figured out my business profit yet?

You drop ship everything and net $80K/yr.

I paid nothing for shipping. What's my profit?

Given how little info you have provided you must be looking for gross profit?

 

[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.

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.

That's simply pandering - paying lip service without fixing the problem.

That would depend on what you mean by fixing the problem.

History has shown that tying wage increases to inflation has been ineffective, and actually contributes to the problem, rather than fixing it. Congressmen proposing to do that are merely pretending to care about fixing the problem.

Define "ineffective".

One would expect no improvement in the standard of living of minimum wagers by tying increases to inflation. Is that what you mean by "contributes to the problem"?

I think that at this juncture, people who genuinely care about minimum-wagers should be exceptionally careful not to push too hard. A few dollars an hour is the only thing making a flesh-and-blood human worker preferable to a machine in a great many service industries, and the machines aren't getting any slower or more expensive.

 

[haissem123]

No, minimum wage increases doesn't necessarily mean across the board hikes in wages. In most businesses their aren't that many people making minimum wage. Employees that are just above minimum wage and working with minimum wage employees may see a small increase. Higher salary employees usually see no raise.

Not true. There are plenty of businesses that only hire min wage workers.
They'll raise prices and the people of seattle will leave the city limits to purchase those goods or they wont frequent them as often.

Give an example of a business you think would have to raise prices.

All fast food joints and any other place that hires teenagers as their main workforce.
I dont frequent fast food joints,but if they raise prices by a couple bucks for the crap food they serve I'll never set foot in one again.
And I know many people who feel the same. I want to see them stay in business when they lose a third of their customers and they have to pay artificially inflated wages.
They'll close in droves.

Fast food customers tend to be lower wage. So many customers will get wage increases. This will allow them to eat fast food more often helping cover the increased labor costs.

I'm not going to go over this for the twentieth time.
When costs increase at the very places the min wage workers are employed how does that make it any cheaper for them?

The object is to reduce the wages of the owners of this world. Tax dividends stocks and bonds as assets and income. Only right

 

[hadit]

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?

If a machine can grind meat, shape burger patties, cook and assemble burgers for $10/hr, that's the price point beyond which humans will be replaced. If automated gas pumps can allow customers to pump their own gas for $2/hr, that's the price beyond which humans will be replaced. See, the way you approach this is all wrong. A typical business owner looks at it this way. I have a product that I sell. That product costs me X dollars in raw materials. Then I have to add in Y dollars to assemble the product and Z dollars to transport and sell it. Then I have to add enough to cover the taxes I will be charged by the government (this is why corporate taxation is so stupid. The customer pays them). Finally, after all that, I add in 3% as my profit margin. And, most of the time, labor is the biggest expense a company has. So, when it's all said and done, a job that "makes all the money for an business owner" simply doesn't exist.

 

[Brain357]

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?

If a machine can grind meat, shape burger patties, cook and assemble burgers for $10/hr, that's the price point beyond which humans will be replaced. If automated gas pumps can allow customers to pump their own gas for $2/hr, that's the price beyond which humans will be replaced. See, the way you approach this is all wrong. A typical business owner looks at it this way. I have a product that I sell. That product costs me X dollars in raw materials. Then I have to add in Y dollars to assemble the product and Z dollars to transport and sell it. Then I have to add enough to cover the taxes I will be charged by the government (this is why corporate taxation is so stupid. The customer pays them). Finally, after all that, I add in 3% as my profit margin. And, most of the time, labor is the biggest expense a company has. So, when it's all said and done, a job that "makes all the money for an business owner" simply doesn't exist.

Show me any machine capable of replacing fast food workers.

 

[hadit]

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.

I said raising the MW is A driver of inflation, not the only driver. I also said that the only way to avoid a large impact on jobs is to keep it low enough that inflation quickly wipes out the increase in costs.

 

[hadit]

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?

If a machine can grind meat, shape burger patties, cook and assemble burgers for $10/hr, that's the price point beyond which humans will be replaced. If automated gas pumps can allow customers to pump their own gas for $2/hr, that's the price beyond which humans will be replaced. See, the way you approach this is all wrong. A typical business owner looks at it this way. I have a product that I sell. That product costs me X dollars in raw materials. Then I have to add in Y dollars to assemble the product and Z dollars to transport and sell it. Then I have to add enough to cover the taxes I will be charged by the government (this is why corporate taxation is so stupid. The customer pays them). Finally, after all that, I add in 3% as my profit margin. And, most of the time, labor is the biggest expense a company has. So, when it's all said and done, a job that "makes all the money for an business owner" simply doesn't exist.

Show me any machine capable of replacing fast food workers.

Here's one. Momentum Machines Burger Robot - Business Insider
Does anyone seriously think others will not follow and dramatically lower the cost?

 

[hadit]

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.

That's a very general statement. In the first place, define "afford". If a business can raise prices without a significant loss of sales, they can "afford it". If they can lay off workers without a significant loss of productivity, they can "afford it". If they have a large profit margin and don't mind reducing it, they can "afford it". If they don't have any of those options, they can't.

 

[hadit]

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.

That would be a very stupid thing to do.

 

[Brain357]

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?

If a machine can grind meat, shape burger patties, cook and assemble burgers for $10/hr, that's the price point beyond which humans will be replaced. If automated gas pumps can allow customers to pump their own gas for $2/hr, that's the price beyond which humans will be replaced. See, the way you approach this is all wrong. A typical business owner looks at it this way. I have a product that I sell. That product costs me X dollars in raw materials. Then I have to add in Y dollars to assemble the product and Z dollars to transport and sell it. Then I have to add enough to cover the taxes I will be charged by the government (this is why corporate taxation is so stupid. The customer pays them). Finally, after all that, I add in 3% as my profit margin. And, most of the time, labor is the biggest expense a company has. So, when it's all said and done, a job that "makes all the money for an business owner" simply doesn't exist.

Show me any machine capable of replacing fast food workers.

Here's one. Momentum Machines Burger Robot - Business Insider
Does anyone seriously think others will not follow and dramatically lower the cost?

The cost seems to be missing from the link. Also I don't see it working the register and serving customers.

 

[SmarterThanTheAverageBear]

Another issue that has nonsensical people on both sides.

Should be the minimum wage be increased from $7.25 an hour? Of course it should be. Should it be doubled to $15 an hour? Of course not, that is preposterous.

 

[hadit]

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.

Like dems helped the kiddies of baltimore, detroit, new orleans, philly, chicago etc??? Lol

You can start by doing your part in voting out all Republicans and putting the middle class back to work at livable wages.

Why do you want to deny the poor access to low cost goods?

 

[hadit]

Most minimum wage jobs are easy to learn but they cannot be automated or shipped overseas. When the minimum wage goes up those who hire minimum wage workers have no choice but to pay the increase.

Arguments against raising the minimum wage never change, but they have never been verified. There is no relationship between raising the minimum wage and increases in unemployment.

What minimum wage jobs can't be automated, or even better, outsourced entirely?