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re: The Real Fear of $15/hr Min Wage
Posted on 1/16/21 at 5:57 am to TenWheelsForJesus
Posted on 1/16/21 at 5:57 am to TenWheelsForJesus
quote:
. Not every small business makes hundreds of thousands in profit a year. Many business owners make just enough to be comfortable.
Something that a lot of jealous liberals don't understand.
They think every business owner is a millionaire. A lot of small business owners make about the same as a salaried employee at most companies. Most small business owners started their business so they could be their own boss, not make a ton of money.
It's Be Your Own Boss first. Then if you make a ton of money, then great. Most don't.
This post was edited on 1/16/21 at 5:58 am
Posted on 1/16/21 at 6:08 am to imjustafatkid
quote:
This is a truly terrible proposal.
I don't get it. You live in one of the poorest states in the US. You will never be a millionaire, let alone a billionaire. Why do you want to help these assholes that corrupt our politics and spend their time partying in the bahamas?
Posted on 1/16/21 at 6:14 am to Speedy Greedy
quote:
I don't get it.
This is a fact
quote:
You live in one of the poorest states in the US. You will never be a millionaire, let alone a billionaire. Why do you want to help these assholes that corrupt our politics and spend their time partying in the bahamas?
You have no idea what a poster's net worth is.
Posted on 1/16/21 at 6:17 am to Speedy Greedy
quote:
I don't get it. You live in one of the poorest states in the US. You will never be a millionaire, let alone a billionaire. Why do you want to help these a-holes that corrupt our politics and spend their time partying in the bahamas?
Billionaires aren’t an enemy you can aim the govt at to punish. The govt, as you pointed out, is corrupt..rest assured whatever they do will benefit the billionaires more than you. Just like the policy mentioned in the OP. 15 dollar an hour min wage ain’t gonna bankrupt corporations and multinationals..but it might do so to mom and pop stores/restaurants/service businesses. Which will be replaced, if at all, with corporate owned chains.
This post was edited on 1/16/21 at 6:20 am
Posted on 1/16/21 at 6:17 am to Speedy Greedy
quote:
don't get it. You live in one of the poorest states in the US. You will never be a millionaire, let alone a billionaire. Why do you want to help these assholes that corrupt our politics and spend their time partying in the bahamas?
It’s not the private company hundred thousandaires, millionaires, or billionaires fault we are in the poorest state. It’s the fault of the government with their tax policies, spending policies, and insane legal liabilities (trial lawyers) that LA is the poorest state.
So please forgive me for not hating the people who made something of themselves through developing a company/product/service and FOR hating the politicians, lobbyist, and unelected bureaucrats that have directly resulted in my state being stunted.
Posted on 1/16/21 at 6:20 am to Speedy Greedy
quote:
Another way to pay for UBI would be a wealth tax. It is estimated that $12k a year to every American would cost $3t. Bernie Sanders says his wealth tax (1% on every dollar earned over $32m and progressively increasing) would raise around $4.5T whilst a Wharton study found that it would raise around $3T. This would easily cover UBI. If What Sanders claims is correct then we'd have $1-1.5T left over this could returned to working and middle class americans through tax cuts.
quote:
It's a tax on net worth not earning.
Posted on 1/16/21 at 6:31 am to GoldenGuy
I guess the question is: how did they survive the last time the minimum wage increased?
Posted on 1/16/21 at 6:34 am to Dawgfanman
quote:
15 dollar an hour min wage ain’t gonna bankrupt corporations and multinationals..but it might do so to mom and pop stores/restaurants/service businesses. Which will be replaced, if at all, with corporate owned chains.
Multinationals will destroy mom and pop stores with or without a $15 minimum wage
Posted on 1/16/21 at 6:37 am to GoldenGuy
They survive by raising their prices.
So now the people with mandatory $15 per hr min wage have to spend more and their “extra money” is, in effect, worthless.
So now the people with mandatory $15 per hr min wage have to spend more and their “extra money” is, in effect, worthless.
Posted on 1/16/21 at 6:37 am to jonnyanony
quote:
I guess the question is: how did they survive the last time the minimum wage increased?
The last time it increased, it didn't double, I think it increased by 20%.
Posted on 1/16/21 at 6:37 am to GoldenGuy
Day Care is going to get a lot more expensive.
Posted on 1/16/21 at 6:37 am to Shaft Williams
quote:
They survive through automation. I'm talking about the large chain stores. A $15/hour minimum wage kicks automation into high gear. And, then the Dems will be promoting UBI b/c a lot of their constituents won't have jobs. Small businesses will be screwed and will likely be ruined.
Of the 2 I have bolded which one makes the big political contributions?
Posted on 1/16/21 at 6:39 am to Speedy Greedy
quote:
Multinationals will destroy mom and pop stores with or without a $15 minimum wage
At this moment I can still choose locally owned restaurants and stores, it appears that Democrats are determined to end that as soon as possible. Literally every policy they propose hastens what you see as inevitable. We will, if they are given enough time, only have one or two choices for every need or want..and that choice will be owned by China.
Posted on 1/16/21 at 6:41 am to Pacito
quote:
Day Care is going to get a lot more expensive.
Didn’t Biden propose that it be “free” (for those under a certain income limit)?
Posted on 1/16/21 at 6:45 am to GoldenGuy
Machinery will take over and people are going to lose their jobs
They will blame greedy capitalists when people get fired
They will harp about the wage gap and say that the answer is a higher minimum wage. The cycle will continue
Democrats are literally economic morons because they think the government is the engineer
They will blame greedy capitalists when people get fired
They will harp about the wage gap and say that the answer is a higher minimum wage. The cycle will continue
Democrats are literally economic morons because they think the government is the engineer
Posted on 1/16/21 at 6:47 am to bird35
quote:
15$ minimum wage sends millions of jobs to China.
Umm it’s Joe Biden we are talking about...gotta get his family paid off somehow!
Posted on 1/16/21 at 6:55 am to GoldenGuy
I just posted this very basic grocery store example in another thread. It can be easily adapted to fit a restaurant, bar, hardware store, any local business:
The current minimum wage is 7.25. So here’s an example to help you understand:
I own a local grocery store.
I have 1 parking lot attendant- $8 per hour
3 cashiers - $10 per hour
1 customer service cashier - $12 per hour
1 floor manager- $15 per hour
A total of $65 per hour operating cost.
All of my employees are happy currently, I pay more than minimum wage to everyone, I’m generous with raises for those who stay a few years, and I have competitive pricing to the big stores and carry some local brands.
The government suddenly raised the minimum wage to $15.
Now suddenly I’m required to pay every single employee I have the managers rate. I can’t afford that, so here’s what I have to do just to keep my business a float:
Parking lot attendant: fired
1 cashier: fired
2 cashier: $15 per hour
1: customer service cashier: $15 an hour
1: Floor manager: $20 per hour
While that looks like raises on paper you have to view it in reality:
I fired two employees and the employees I kept actually got a pay decrease relative to minimum wage instead of the great money they were making and that hurts in the long run as the economy inflates to meet the difference.
In your perfect world I would fire no one and this would happen after the increase, considering relative value to minimum wage:
have 1 parking lot attendant- $16 per hour
3 cashiers - $20 per hour
1 customer service cashier - $25per hour
1 floor manager- $32 per hour
Now my operating costs went from $65 per hour to $133 per hour due to government imposed regulations and I’m somehow just supposed to eat a double in my operating costs? Most of not all small businesses are not operating on margins anywhere near that. But the big box stores can float it out.
So I either raise my prices and alienate my customers and eventually close due to the inability to compete with Walmart.
Or I fire 2 employees and effectively give everyone else a pay decrease.
Or I just close my store and find a new job somewhere. Probably as a manger at Walmart.
Or what usually happens and is terrible for communities is I fire all of my skilled labor and managers and just do those jobs myself. Now there is no room for raises or growth and I run a business full of minimum wage unskilled labor with no opportunity for improvement.
Have none of the proponents of minimum wage ever taken a basic economics class?
The current minimum wage is 7.25. So here’s an example to help you understand:
I own a local grocery store.
I have 1 parking lot attendant- $8 per hour
3 cashiers - $10 per hour
1 customer service cashier - $12 per hour
1 floor manager- $15 per hour
A total of $65 per hour operating cost.
All of my employees are happy currently, I pay more than minimum wage to everyone, I’m generous with raises for those who stay a few years, and I have competitive pricing to the big stores and carry some local brands.
The government suddenly raised the minimum wage to $15.
Now suddenly I’m required to pay every single employee I have the managers rate. I can’t afford that, so here’s what I have to do just to keep my business a float:
Parking lot attendant: fired
1 cashier: fired
2 cashier: $15 per hour
1: customer service cashier: $15 an hour
1: Floor manager: $20 per hour
While that looks like raises on paper you have to view it in reality:
I fired two employees and the employees I kept actually got a pay decrease relative to minimum wage instead of the great money they were making and that hurts in the long run as the economy inflates to meet the difference.
In your perfect world I would fire no one and this would happen after the increase, considering relative value to minimum wage:
have 1 parking lot attendant- $16 per hour
3 cashiers - $20 per hour
1 customer service cashier - $25per hour
1 floor manager- $32 per hour
Now my operating costs went from $65 per hour to $133 per hour due to government imposed regulations and I’m somehow just supposed to eat a double in my operating costs? Most of not all small businesses are not operating on margins anywhere near that. But the big box stores can float it out.
So I either raise my prices and alienate my customers and eventually close due to the inability to compete with Walmart.
Or I fire 2 employees and effectively give everyone else a pay decrease.
Or I just close my store and find a new job somewhere. Probably as a manger at Walmart.
Or what usually happens and is terrible for communities is I fire all of my skilled labor and managers and just do those jobs myself. Now there is no room for raises or growth and I run a business full of minimum wage unskilled labor with no opportunity for improvement.
Have none of the proponents of minimum wage ever taken a basic economics class?
This post was edited on 1/16/21 at 6:57 am
Posted on 1/16/21 at 7:07 am to GoldenGuy
quote:
The Real Fear of $15/hr Min Wage
Let them have it. Let's see where the chips fall. And let's revisit in a couple of years. It is a fait accompli. As Hannity and O'Reilly and Obama say, elections have consequences.
Posted on 1/16/21 at 7:23 am to Speedy Greedy
quote:
I don't get it.
WINNER!
Posted on 1/16/21 at 7:48 am to TigerAxeOK
quote:
How the frick do grocery stores, fast food chains, gas stations, and most (state) government offices stay open, stocked, and/or available at a $15 minimum wage workers?
It's really simple actually.
They have to double their employee pay, so they double their prices and pass it on to the consumer. It doesn't happen immediately, they roll out the price increases in increments so it's less noticeable. It's reverse trickle down economics.
Doubling minimum wage doesn't double the cost of goods... For the simple reason that labor doesn't constitute 100% of the cost of things. Also, a number of employees are paid well above minimum wage and won't be affected much by the increase.
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