re: Bank Of America - Minimum Wage to be $25 hr/50K yr

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Rising tides raise all boats.
I get it... the wealthy rise faster and higher than the non-wealthy. But everyone is better off in a hyper productive society. But people will bitch about the gap as if that is something that should ever matter.

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There is no wealth gap which would matter in a market economy. No matter how wide it was it would be meaningless, in a free market. Unfortunately we do not do business in a free market, we do not do business in a controlled market, we do business in a crony capitalism market...and that is the worst economic idea to ever be dreamed of...but it is the most common one which has ever existed because man is a greedy animal. A rising tide only lifts all boats if all boats have the same amount of anchor rode or no anchor rode at all...if your road is shortened by crony capitalism you are as likely to find your boat sunk as rising....BoA has operated in a crony capitalism market for far too long, relying on tax payers to subsidize their production costs instead of controlling those costs and managing their business in a way which forces them to reconcile those costs with their customers via a cost which is suitable for every one. Why so many people are opposed to companies actually paying their production costs with no assistance from taxpayers is beyond me...but there is an element of greed in it evidenced by the beleif that an increase in production costs will drive up prices to the individual...

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Well no shite. All costs come from the revenue. If they have to replace the computer, it will come out of the revenue.

The amount of revenue stays the same. That does not change. The word you keep searching so desperately for is “Profit”. Profit Margin is what changes with higher labor costs. It honestly blows my mind how difficult this is for you to understand.

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As stated before, I understand what you have been posting ad nauseum.

Congrats on enlightening me about the proper terminology.

Feel better now?

Again, my point has always been that their actions can adversely affect their profit margin.

By the way, are you still sticking to your assertion that AwgustaDawg was specifically referring to Bank of America when stating there is no economic theory that suggests an increase in production costs drives a corresponding increase in market price?

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Again, my point has always been that their actions can adversely affect their profit margin.

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Then use the correct words as they can be incredibly important to your point.

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By the way, are you still sticking to your assertion that AwgustaDawg was specifically referring to Bank of America when stating there is no economic theory that suggests an increase in production costs drives a corresponding increase in market price?

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That was never my assertion. There's an incredibly strong reasoning behind me very specifically quoting his post about BoA....considering that is the entire topic of this thread.

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Granted it was in the early 90s but I remember thinking if I ever make $50k/yr that I will have more money than I know what to do with. I can't imagine trying to build a life and raise a family on $50k today.

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That’s what gets lost in all of these poverty debates. The middle class are rapidly becoming the working poor. Actual cost of living for a family of 4 in Louisiana without major subsidies is around $65k.

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Bank Of America - Minimum Wage to be $25 hr/50K yr
A Bank Teller used to make $18/hr w/ benefits

The teller machine and the mobile deposit app on my phone are free labor who work 24/7

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And once again increased production costs were overcome by managing costs...not simply hiking prices because, and this is basic economics, production costs has no impact on price.

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You butted in citing my answer then stated-

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False. I stated "cost =/= revenue". You continued to show that you did not know the difference between the two.

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"He quite literally was specifically addressing BoA."

Do tell, how was his comment was specific to BoA?

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Once again.....the comment that I very specifically quoted earlier in this thread. Please follow along better.

His argument didn't change based upon which comment you prefer to respond to. The entire thread has to do with BoA. You can't just ignore this fact because it doesn't benefit you.

this just in. Teachers in Livingston Parish make less than minimum wage.

Think of it this way - this is an admission that if you make 150k a year, you are really making $18/hr in 1992 money.

Frick BOA and their $30 a share stock. Talk to me when you are value relevant in your own business, before your never ending virtue signaling bs.

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So they can rent an apartment with a roommate or 2 and finance a 10 year old car while they have nothing left to put in savings.

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and share a Netflix acct.