Why The Minimum Wage Should Actually Be $21.72

[depotoo]

If your payroll went from 40K a week to 80K a week how would you stay in business if you didn't raise the price of the goods and or services you provide?

It depends on your business' profit margins.

how many businesses do you know of that are in food service, groceries, etc. that have that type of profit margin?

 

[JimmieD]

If your payroll went from 40K a week to 80K a week how would you stay in business if you didn't raise the price of the goods and or services you provide?

It depends on your business' profit margins.

how many businesses do you know of that are in food service, groceries, etc. that have that type of profit margin?

I don't invest in those areas, I don't know what their profit margins are. Surely you're not about to disagree with my point though that it depends on profit margins?

 

[EdwardBaiamonte]

It depends on your business' profit margins.

how many businesses do you know of that are in food service, groceries, etc. that have that type of profit margin?

I don't invest in those areas, I don't know what their profit margins are. Surely you're not about to disagree with my point though that it depends on profit margins?

the law of supply and demand is 100% clear that when you raise the price of labor, or anything, the demand for it is diminished.

Did you ever wonder why they sell fewer Rolls Royces than VW's.

See why we are positive a liberal will be so very very slow?

 

[Skull Pilot]

It depends on your business' profit margins.

how many businesses do you know of that are in food service, groceries, etc. that have that type of profit margin?

I don't invest in those areas, I don't know what their profit margins are. Surely you're not about to disagree with my point though that it depends on profit margins?

How many companies can you name that could absorb a doubling of labor costs? And if they could why would anyone continue to hold their stock?

 

[JimmieD]

the law of supply and demand is 100% clear

....ceteris paribus

that when you raise the price of labor, or anything, the demand for it is diminished.

Yes, ceteris paribus. But not everything else is held constant. There is no assurance that the min. wage has any significant impact on employment; of course, maybe the impact will be huge.

How many companies can you name that could absorb a doubling of labor costs? And if they could why would anyone continue to hold their stock?

I show about 50 with profit margins near 100%. I bet they could.

 

[EdwardBaiamonte]

I show about 50 with profit margins near 100%. I bet they could.

too stupid!! competition drives profits to zero under capitalism. Driving up wages just gets them to bankruptcy faster!

 

[JimmieD]

I show about 50 with profit margins near 100%. I bet they could.

too stupid!! competition drives profits to zero under capitalism. Driving up wages just gets them to bankruptcy faster!

Does the data show that?

 

[EdwardBaiamonte]

I show about 50 with profit margins near 100%. I bet they could.

too stupid!! competition drives profits to zero under capitalism. Driving up wages just gets them to bankruptcy faster!

Does the data show that?

yes dear thats why it is taught in micro 101!!!

 

[JimmieD]

too stupid!! competition drives profits to zero under capitalism. Driving up wages just gets them to bankruptcy faster!

Does the data show that?

yes dear thats why it is taught in micro 101!!!

And what data are you looking at?

 

[EdwardBaiamonte]

Does the data show that?

yes dear thats why it is taught in micro 101!!!

And what data are you looking at?

Mankiws micro economic text

 

[depotoo]

It depends on your business' profit margins.

how many businesses do you know of that are in food service, groceries, etc. that have that type of profit margin?

I don't invest in those areas, I don't know what their profit margins are. Surely you're not about to disagree with my point though that it depends on profit margins?

Of course it does, but I believe you will find that most businesses do not have that type of profit margin. Much is made of how much industries make overall rather than looking at what volume they have had to move to get those total profits, and not to look at what the net % is so they can make businesses look like they are all scum, when in actuality all it could take is one or two very bad years (and in small businesses some time much less time) to bring a company to its knees. It serves a purpose to make business look like ti is wallowing when in actuality most are not.
Industry Browser - Yahoo! Finance - Full Industry List Look under the net profit margin column. See what the averages are for each industry. CLick the title to expanding the listings for each. Nowhere near being able to pay someone double without having to also double the cost of goods or services.
Seems radio broadcasting and periodicals are the only ones currently that have near a wide enough margin for such. Some industries are running negatively even right now.

 

[KissMy]

If your payroll went from 40K a week to 80K a week how would you stay in business if you didn't raise the price of the goods and or services you provide?

It depends on your business' profit margins.

how many businesses do you know of that are in food service, groceries, etc. that have that type of profit margin?

There is a lot of margin in the food business. Most farmers get paid about 12 cents per pound of food they grow. Most of the food you buy cost you over $3 per pound. There is a lot of profit in food processing, sales & service. Beverage's have much higher profit margins than that.

Investors surged into consumer staples like food & beverage when money printing ramped up. They demanded more ROI to hedge against inflation. There are high profit margins that need to be squeezed to pay the workers that make those profits to get them off the government tit & halt the money printing. Grocery may have to squeeze the brand name processors to get them, but they are there in that 2500% food mark-up. Warren Buffet would not have Walmart as one of his largest key holdings if it was not really profitable. He also just bought Heinz Foods, owns Coke & many more. There is more than enough to pay the true cost of their workers & get them off the government tit, pay the same percent taxes we pay & still make huge profits.

 

[depotoo]

It depends on your business' profit margins.

how many businesses do you know of that are in food service, groceries, etc. that have that type of profit margin?

There is a lot of margin in the food business. Most farmers get paid about 12 cents per pound of food they grow. Most of the food you buy cost you over $3 per pound. There is a lot of profit in food processing, sales & service. Beverage's have much higher profit margins than that.

Investors surged into consumer staples like food & beverage when money printing ramped up. They demanded more ROI to hedge against inflation. There are high profit margins that need to be squeezed to pay the workers that make those profits to get them off the government tit & halt the money printing. Grocery may have to squeeze the brand name processors to get them, but they are there in that 2500% food mark-up. Warren Buffet would not have Walmart ar one of his largest key holdings if it was not really profitable.

look at this link -
Industry Browser - Yahoo! Finance - Full Industry List

 

[KissMy]

They a a large successful company (not monopoly) because they created a good business model of cheap goods at low prices with a large, efficient distribution system.

In many areas they are a monopoly. If Walmart were so awesome & efficient, they would not need tax subsidies that smaller business do not get & their employees would be paying taxes, not be sucking the government tit eating my taxes.

Aldi workers are not on the government tit & their prices are way lower than your politically correct Walmart's are.

How dare Walmart be forced to actually pay the cost of their workers who are on food stamps. Because God forbid those workers might use that cash to buy their food from a small business or farmers road side stand that does not accept food stamps instead of a big food stamp store like Walmart.

Can you tell me how little taxes there would be in the coffers if the likes of Walmart, Target (which pays the same as Walmart which was conveniently not mentioned), etc. didn't exist?
And whose fault is it that those small businesses or farmers roadside stand don't accept those food stamps?

Tax payers are giving Walmart a $9+Billion annual subsidy. So there would that much more if they were not around.

Also your loving food stamp comments once again confirms the GOP record for big nanny state government. Since you want that, you need to pay for your nanny state government with more of your taxes & stop bitching about them. I however want to get your crony big nanny state government hands out of my pocket.

 

[Skull Pilot]

It depends on your business' profit margins.

how many businesses do you know of that are in food service, groceries, etc. that have that type of profit margin?

There is a lot of margin in the food business. Most farmers get paid about 12 cents per pound of food they grow. Most of the food you buy cost you over $3 per pound. There is a lot of profit in food processing, sales & service. Beverage's have much higher profit margins than that.

Investors surged into consumer staples like food & beverage when money printing ramped up. They demanded more ROI to hedge against inflation. There are high profit margins that need to be squeezed to pay the workers that make those profits to get them off the government tit & halt the money printing. Grocery may have to squeeze the brand name processors to get them, but they are there in that 2500% food mark-up. Warren Buffet would not have Walmart as one of his largest key holdings if it was not really profitable. He also just bought Heinz Foods, owns Coke & many more. There is more than enough to pay the true cost of their workers & get them off the government tit, pay the same percent taxes we pay & still make huge profits.

How do you get a 2500% mark up on food?

Give me an example please.

 

[Skull Pilot]

In many areas they are a monopoly. If Walmart were so awesome & efficient, they would not need tax subsidies that smaller business do not get & their employees would be paying taxes, not be sucking the government tit eating my taxes.

Aldi workers are not on the government tit & their prices are way lower than your politically correct Walmart's are.

How dare Walmart be forced to actually pay the cost of their workers who are on food stamps. Because God forbid those workers might use that cash to buy their food from a small business or farmers road side stand that does not accept food stamps instead of a big food stamp store like Walmart.

Can you tell me how little taxes there would be in the coffers if the likes of Walmart, Target (which pays the same as Walmart which was conveniently not mentioned), etc. didn't exist?
And whose fault is it that those small businesses or farmers roadside stand don't accept those food stamps?

Tax payers are giving Walmart a $9+Billion annual subsidy. So there would that much more if they were not around.

Also your loving food stamp comments once again confirms the GOP record for big nanny state government. Since you want that, you need to pay for your nanny state government with more of your taxes & stop bitching about them. I however want to get your crony big nanny state government hands out of my pocket.

Please prove your 9 billion dollar subsidy remark.

 

[depotoo]

In many areas they are a monopoly. If Walmart were so awesome & efficient, they would not need tax subsidies that smaller business do not get & their employees would be paying taxes, not be sucking the government tit eating my taxes.

Aldi workers are not on the government tit & their prices are way lower than your politically correct Walmart's are.

How dare Walmart be forced to actually pay the cost of their workers who are on food stamps. Because God forbid those workers might use that cash to buy their food from a small business or farmers road side stand that does not accept food stamps instead of a big food stamp store like Walmart.

Can you tell me how little taxes there would be in the coffers if the likes of Walmart, Target (which pays the same as Walmart which was conveniently not mentioned), etc. didn't exist?
And whose fault is it that those small businesses or farmers roadside stand don't accept those food stamps?

Tax payers are giving Walmart a $9+Billion annual subsidy. So there would that much more if they were not around.

Also your loving food stamp comments once again confirms the GOP record for big nanny state government. Since you want that, you need to pay for your nanny state government with more of your taxes & stop bitching about them. I however want to get your crony big nanny state government hands out of my pocket.

where is your mention of Target, Publix, Home Depot, Krogers, Kmart, etc. since they all pay about the same, relatively similar benefits, etc. Or is it that you carry the age old torch by the Dems to squash whom they consider their rival, due to their beliefs, etc. only? All others that pay the same, etc., will remain unmentioned.
And I have noticed this same behavior of you and a few others never addressing these facts, just try to once again skip to another thread and thorw out the same hogwash all over again. So transparent.

 

[Katzndogz]

The minimum wage SHOULD be $21.72 an hour or even higher. That would trigger a massive recession, maybe even a major depression. That would help to end liberalism.

 

[KissMy]

look at this link -
Industry Browser - Yahoo! Finance - Full Industry List

How do you get a 2500% mark up on food?

Give me an example please.

I don't need a propaganda list to know the truth. Carrots cost the store 6 cents a pound. What did you pay for them? Corn cost 12 cents a pound. What did you pay for corn or corn products?

 

[depotoo]

Can you tell me how little taxes there would be in the coffers if the likes of Walmart, Target (which pays the same as Walmart which was conveniently not mentioned), etc. didn't exist?
And whose fault is it that those small businesses or farmers roadside stand don't accept those food stamps?

Tax payers are giving Walmart a $9+Billion annual subsidy. So there would that much more if they were not around.

Also your loving food stamp comments once again confirms the GOP record for big nanny state government. Since you want that, you need to pay for your nanny state government with more of your taxes & stop bitching about them. I however want to get your crony big nanny state government hands out of my pocket.

Please prove your 9 billion dollar subsidy remark.

I am betting he will just skip to another thread to try to throw out his bogus figures rather than discuss the real facts here.