healthmyths
Platinum Member
- Sep 19, 2011
- 28,997
- 10,504
Here is a standard "Profit & Loss" (P&L) for a restaurant.
When any business does it's books it keeps track of
SALES... in this case from Food and beverage...
Then they figure their costs for the year.
So if salaries,wages & benefits constitute 30.5% of total expenses... What happens if those expenses go up say by 50%... or half of 30.5% is 15% or 45% because wages go to $15.00 PLUS remember something most people don't seem to understand...THE EMPLOYER ALSO pays SS (6.2%)/Medicare(1.45%) taxes in addition to the increase to $15.00!.......hmmmmm....
Well that pretty well shoots the income before income taxes... which was 4.4%...
That means NO PROFIT which means
A) NO FEDERAL TAXES which WAS on the profit....BOOO...evil profit!!!
B) No business to pay employees!!! Oh well employees can get unemployment checks for 99 weeks!
So taking a page from "Business Operating Expenses for Dummies"!!!
If you pay minimum wage of $15.00 you different options:
1) RAISE your Food/Beverage prices for the consumer by 50%... Yea that's ticket... see how many patrons
will stay with you! OR
2) Automate some functions oh say like the waiters and replace with iPads/robot deliveries.
Wow... that just might CUT the Salaries/wages/benefits cost even more making even MORE evil profit!!!
Hey never mind that all minimum wage jobs..(less then 3 million by the way) are held by low skilled, entry level people (Hey was one! I started flipping hamburgers at $2.00/hour in 1962!) and the only thing I knew
was I had to show up daily for my job, I had to be on time and I had to respect the customers and my fellow employees and boss! That's it! And those are the people that will be replaced.
Those are the people with NO skill sets... and have only their presence to be compensated for by the employer. That's it... and YOU idiots want those people who are LEARNING while working to be put out of work! RIGHT!!!
restuarant bar expense... http://www.restaurantowner.com/RN_1.pdf
When any business does it's books it keeps track of
SALES... in this case from Food and beverage...
Then they figure their costs for the year.
So if salaries,wages & benefits constitute 30.5% of total expenses... What happens if those expenses go up say by 50%... or half of 30.5% is 15% or 45% because wages go to $15.00 PLUS remember something most people don't seem to understand...THE EMPLOYER ALSO pays SS (6.2%)/Medicare(1.45%) taxes in addition to the increase to $15.00!.......hmmmmm....
Well that pretty well shoots the income before income taxes... which was 4.4%...
That means NO PROFIT which means
A) NO FEDERAL TAXES which WAS on the profit....BOOO...evil profit!!!
B) No business to pay employees!!! Oh well employees can get unemployment checks for 99 weeks!
So taking a page from "Business Operating Expenses for Dummies"!!!
If you pay minimum wage of $15.00 you different options:
1) RAISE your Food/Beverage prices for the consumer by 50%... Yea that's ticket... see how many patrons
will stay with you! OR
2) Automate some functions oh say like the waiters and replace with iPads/robot deliveries.
Wow... that just might CUT the Salaries/wages/benefits cost even more making even MORE evil profit!!!
Hey never mind that all minimum wage jobs..(less then 3 million by the way) are held by low skilled, entry level people (Hey was one! I started flipping hamburgers at $2.00/hour in 1962!) and the only thing I knew
was I had to show up daily for my job, I had to be on time and I had to respect the customers and my fellow employees and boss! That's it! And those are the people that will be replaced.
Those are the people with NO skill sets... and have only their presence to be compensated for by the employer. That's it... and YOU idiots want those people who are LEARNING while working to be put out of work! RIGHT!!!
restuarant bar expense... http://www.restaurantowner.com/RN_1.pdf