Analyzing A Practical Minimum Wage

[Jackinthebox]

Basic principles?

You think labor costs don;t factor into product costs and you are trying to tell me about basic principles

That's funny.

And btw there are franchises where the company tells the owner what to charge for everything. But then again you don't know that either.

I gave you the opportunity to show me that info to support your position. You refused, because you are talking out of your ass.

Labor costs do not determine market value of a product or service. I have PROVEN that time and time again with actual figures and real world examples. When I give you the opportunity to do the same to support your position, your answer is "google it." This coming from someone who is either a flat out liar about running a business, or you simply let your computer program run your business for you, lol. What a tool. Just stop talking, really. You have contributed absolutely nothing to this thread but utter nonsense. You are either a shill and a troll, or you are actually that stupid. But either way, no one else is swayed by your foolishness.

If you want to argue another point about why a living wage mandate is a bad idea, fine. But saying that it will raise prices is contradictory to any information you can plainly see from modern business practices on back through all historical data.

Keep the blinders on at your own peril. In the meantime, I will simply let you keep padding my profits by allowing me to exploit taxpayer subsidized labor. If you want to keep paying for my business expenses, it really is no skin off my teeth.

 

[Skull Pilot]

Basic principles?

You think labor costs don;t factor into product costs and you are trying to tell me about basic principles

That's funny.

And btw there are franchises where the company tells the owner what to charge for everything. But then again you don't know that either.

I gave you the opportunity to show me that info to support your position. You refused, because you are talking out of your ass.

Labor costs do not determine market value of a product or service. I have PROVEN that time and time again with actual figures and real world examples. When I give you the opportunity to do the same to support your position, your answer is "google it." This coming from someone who is either a flat out liar about running a business, or you simply let your computer program run your business for you, lol. What a tool. Just stop talking, really. You have contributed absolutely nothing to this thread but utter nonsense. You are either a shill and a troll, or you are actually that stupid. But either way, no one else is swayed by your foolishness.

If you want to argue another point about why a living wage mandate is a bad idea, fine. But saying that it will raise prices is contradictory to any information you can plainly see from modern business practices on back through all historical data.

Keep the blinders on at your own peril. In the meantime, I will simply let you keep padding my profits by allowing me to exploit taxpayer subsidized labor. If you want to keep paying for my business expenses, it really is no skin off my teeth.

So you tell me how if you triple your labor costs at all your imaginary business how you will be able to keep prices for all goods and services the same.

You can't because labor costs are an integral part of product costs.

If you actually ran a business you would know that.

And BTW I looked up the Applebees contract and it clearly states the franchisee must follow ALL aspects of the system as stated by the franchisor meaning that Applebees can indeed tell their franchisees what to charge.

Exhibit 10.2


So you see oh sage business person you really don't know Jack SHIT.

 

[EdwardBaiamonte]

Labor costs do not determine market value of a product or service.

Labor costs are a huge factor which is why 1000's of businesses have moved to China. Does the silly liberal think they go to China for the good weather?

See why we must be positive that liberalism is based in pure ignorance?

 

[Skull Pilot]

Labor costs do not determine market value of a product or service.

Labor costs are a huge factor which is why 1000's of businesses have moved to China. Does the silly liberal think they go to China for the good weather?

See why we must be positive that liberalism is based in pure ignorance?

Jack Don't Know Shit In The Box says labor costs have nothing to do with the price of the products and services in all his business ventures yet he refuses to pay his employees a living wage as he defines it.

Why is that do you think?

 

[EdwardBaiamonte]

Jack Don't Know Shit In The Box says labor costs have nothing to do with the price of the products and services in all his business ventures yet he refuses to pay his employees a living wage as he defines it.

Why is that do you think?

a liberal will be too slow to know he's slow.

 

[Jackinthebox]

So you tell me how if you triple your labor costs at all your imaginary business how you will be able to keep prices for all goods and services the same.

I have already told you, time and time again. But you are too dense to understand that increased profits will cover the increased labor cost.

And BTW I looked up the Applebees contract and it clearly states the franchisee must follow ALL aspects of the system as stated by the franchisor meaning that Applebees can indeed tell their franchisees what to charge.

Exhibit 10.2

Thanks for proving that even the entire Applebees corporation agrees with me. The hourly rate of workers has no bearing on the market value of a burger.

 

[Jackinthebox]

Labor costs do not determine market value of a product or service.

Labor costs are a huge factor which is why 1000's of businesses have moved to China. Does the silly liberal think they go to China for the good weather?

See why we must be positive that liberalism is based in pure ignorance?

So capitalism can only thrive in a Communist country? We should be more like the commies? Lol. That's friggin brilliant.

Oh, and have fun going all the way to China to do your grocery shopping and getting a bite to eat.

 

[Jackinthebox]

Jack Don't Know Shit In The Box says labor costs have nothing to do with the price of the products and services in all his business ventures yet he refuses to pay his employees a living wage as he defines it.

Why is that do you think?

a liberal will be too slow to know he's slow.

Except I am not a liberal. So there's your first mistake.

 

[Jackinthebox]

Ohio s minimum wage increase expected to boost economy by 40 million cleveland.com

 

[Skull Pilot]

So you tell me how if you triple your labor costs at all your imaginary business how you will be able to keep prices for all goods and services the same.

I have already told you, time and time again. But you are too dense to understand that increased profits will cover the increased labor cost.

And BTW I looked up the Applebees contract and it clearly states the franchisee must follow ALL aspects of the system as stated by the franchisor meaning that Applebees can indeed tell their franchisees what to charge.

Exhibit 10.2

Thanks for proving that even the entire Applebees corporation agrees with me. The hourly rate of workers has no bearing on the market value of a burger.

Because the cost is factored over ALL the stores idiot.

 

[Skull Pilot]

So you tell me how if you triple your labor costs at all your imaginary business how you will be able to keep prices for all goods and services the same.

I have already told you, time and time again. But you are too dense to understand that increased profits will cover the increased labor cost.

And BTW I looked up the Applebees contract and it clearly states the franchisee must follow ALL aspects of the system as stated by the franchisor meaning that Applebees can indeed tell their franchisees what to charge.

Exhibit 10.2

Thanks for proving that even the entire Applebees corporation agrees with me. The hourly rate of workers has no bearing on the market value of a burger.

Because the cost is factored over ALL the stores idiot.

And you also can't seem to realize that stores where the MW is higher are most likely less profitable because the labor costs are eating into the bottom line

 

[Skull Pilot]

Ohio s minimum wage increase expected to boost economy by 40 million cleveland.com

So why don't you triple all your employees' pay and increase your local economy.

Oh yeah you can't because it'll put you out of business.

 

[Skull Pilot]

So Jack tell me if i own a sandwich shop that employs 5 full time people at 7.50 an hour and my annual labor costs (let's leave out payroll taxes, unemployment taxes workers' comp and all those other expenses for now) then my annual cost for that wage is 78K a year.

If I triple that my labor costs would be 234K a year.

So tell me where does the extra 156K a year come from if I don't raise my prices?

 

[EdwardBaiamonte]

that increased profits will cover the increased labor cost.

dear, if labor costs go up so will prices, if profits and labor costs go up prices will go way up.

But, if prices go way up sales will go way down making the higher profits and wages unsustainable.

In Econ 101 class one day one we call this the law of supply and demand. Now you know why they sell more Chevys than Rolls Royces.

 

[Jackinthebox]

Ironic or just a coincidence that McD's is investing in, and using this market as the test bed for reshaping their future. In Australia, their workers make at least DOUBLE what they are typically paid here in the US for front line jobs. Not only is the price of the Big Mac still the same, within a few pennies, but apparently profits are so good they can invest in this innovation there, rather then here in the US.


This trendy new inner-city cafe is actually a MCDONALD S Fast-food giant continues curious gourmet overhaul with drastically re-branded McCafe in Sydney Daily Mail Online

 

[Jackinthebox]

Because the cost is factored over ALL the stores idiot.

Not if it's a franchise, idiot. Still don't understand what a franchise is do ya? lol.

 

[Jackinthebox]

And you also can't seem to realize that stores where the MW is higher are most likely less profitable because the labor costs are eating into the bottom line

And you don't understand that I am talking about a national standard, not local markets. This is exactly why I can't raise my own wages, without wages being raised across the board. So now that you understand that concept, you can stop trolling me on that point.

 

[Jackinthebox]

So Jack tell me if i own a sandwich shop that employs 5 full time people at 7.50 an hour and my annual labor costs (let's leave out payroll taxes, unemployment taxes workers' comp and all those other expenses for now) then my annual cost for that wage is 78K a year.

If I triple that my labor costs would be 234K a year.

So tell me where does the extra 156K a year come from if I don't raise my prices?

No one said anything about tripling wages.

But to answer your question, the money comes from increased sales.

 

[Jackinthebox]

that increased profits will cover the increased labor cost.

dear, if labor costs go up so will prices, if profits and labor costs go up prices will go way up.

But, if prices go way up sales will go way down making the higher profits and wages unsustainable.

In Econ 101 class one day one we call this the law of supply and demand. Now you know why they sell more Chevys than Rolls Royces.

You can talk about econ 101 but it's obvious you never took the class. All historical data shows the exact opposite. Wage increases have NEVER driven inflation. The exact opposite is true when you look at the data.

 

[EconomicNudity]

Ironic or just a coincidence that McD's is investing in, and using this market as the test bed for reshaping their future. In Australia, their workers make at least DOUBLE what they are typically paid here in the US for front line jobs. Not only is the price of the Big Mac still the same, within a few pennies, but apparently profits are so good they can invest in this innovation there, rather then here in the US.


This trendy new inner-city cafe is actually a MCDONALD S Fast-food giant continues curious gourmet overhaul with drastically re-branded McCafe in Sydney Daily Mail Online

Cost of living in Australia is unbelievably high! Movie tickets - $25 US. I complain about $12 here. But their costs are higher across the board! Middle class families pay for nannies for assistance from all over the world - the U.S. in particular - because daycare costs are so high! They had rather transport, board, and salary a nanny than use daycare. Why? Because it is cost effective!

I cannot believe such ignorance such as your post has received so many comments.... Perhaps because it is so outlandishly ridiculous? Easy target? I have no idea....