As a Conservative I support raising the minimum wage

[Judicial review]

To $9.25 an hour. FYI, I've worked years ago 3rd shift jobs that obviously for a reason pay more per hour then day time that pay min $9.25 an hour.

For the conservative idiots that think this will hurt businesses it won't. Why? Employee payroll is 100% tax deductible off of corporate profit. They get this money back by having to pay less in taxes. Plus, with all the companies dropping medical coverage which is going to save the big corps millions and the small corps thousands, they have extra money and as a business owner they should put it towards their employees for business productivity and employee morale reasons.

Walmart starting in 2015 is raising their min wage FINALLY. FYI, if you are an small business owner and can only pay 7.25 an hour then what the hell are you doing in business? You shouldn't be.

 

[Mr. H.]

Me too, in fits and starts. A little dab'l do ya.

To keep track with inflation.

 

[Toddsterpatriot]

To $9.25 an hour. FYI, I've worked years ago 3rd shift jobs that obviously for a reason pay more per hour then day time that pay min $9.25 an hour.

For the conservative idiots that think this will hurt businesses it won't. Why? Employee payroll is 100% tax deductible off of corporate profit. They get this money back by having to pay less in taxes. Plus, with all the companies dropping medical coverage which is going to save the big corps millions and the small corps thousands, they have extra money and as a business owner they should put it towards their employees for business productivity and employee morale reasons.

Walmart starting in 2015 is raising their min wage FINALLY. FYI, if you are an small business owner and can only pay 7.25 an hour then what the hell are you doing in business? You shouldn't be.

For the conservative idiots that think this will hurt businesses it won't. Why? Employee payroll is 100% tax deductible off of corporate profit. They get this money back by having to pay less in taxes.

Ummm.....payroll is deductible from earnings, not from profit.

If your net earnings are $100 and your tax rate is 30%, your taxes are $30 and your profit is $70.

If your payroll increases by $10, your net earnings are $90, your taxes are $27 and your profit is $63.

 

[Judicial review]

To $9.25 an hour. FYI, I've worked years ago 3rd shift jobs that obviously for a reason pay more per hour then day time that pay min $9.25 an hour.

For the conservative idiots that think this will hurt businesses it won't. Why? Employee payroll is 100% tax deductible off of corporate profit. They get this money back by having to pay less in taxes. Plus, with all the companies dropping medical coverage which is going to save the big corps millions and the small corps thousands, they have extra money and as a business owner they should put it towards their employees for business productivity and employee morale reasons.

Walmart starting in 2015 is raising their min wage FINALLY. FYI, if you are an small business owner and can only pay 7.25 an hour then what the hell are you doing in business? You shouldn't be.

For the conservative idiots that think this will hurt businesses it won't. Why? Employee payroll is 100% tax deductible off of corporate profit. They get this money back by having to pay less in taxes.

Ummm.....payroll is deductible from earnings, not from profit.

If your net earnings are $100 and your tax rate is 30%, your taxes are $30 and your profit is $70.

If your payroll increases by $10, your net earnings are $90, your taxes are $27 and your profit is $63.

Nice job trying to nit pick and I'm correct that tax liability on gross earnings will decrease putting more money in the business account rather than the US Treasury's. Point still stands we can most certainly increase the min wage and my figure is fair.

btw.. Net earnings is called after tax income or true profit. Gross is what the tax is based on after the allowable deductions, but before the taxes that were paid were subtracted. Anotherwords not true profit.

So -The higher the deductions the lower the tax liability.

Example 1 - 10 million gross sales - 5 million in deductions including payroll = 5 million in adjusted gross income.

Example 2 - 10 million is gross sales - 5.5 million in deductions (.5 increase due to payroll payout increase) = 4.5 million in adjusted gross income.

The lower the adjusted gross income the less tax you pay. It mostly evens out and certainly companies can pay a little extra if there is any increase, which should be minimal due to tax liability being lowered.

 

[Toddsterpatriot]

To $9.25 an hour. FYI, I've worked years ago 3rd shift jobs that obviously for a reason pay more per hour then day time that pay min $9.25 an hour.

For the conservative idiots that think this will hurt businesses it won't. Why? Employee payroll is 100% tax deductible off of corporate profit. They get this money back by having to pay less in taxes. Plus, with all the companies dropping medical coverage which is going to save the big corps millions and the small corps thousands, they have extra money and as a business owner they should put it towards their employees for business productivity and employee morale reasons.

Walmart starting in 2015 is raising their min wage FINALLY. FYI, if you are an small business owner and can only pay 7.25 an hour then what the hell are you doing in business? You shouldn't be.

For the conservative idiots that think this will hurt businesses it won't. Why? Employee payroll is 100% tax deductible off of corporate profit. They get this money back by having to pay less in taxes.

Ummm.....payroll is deductible from earnings, not from profit.

If your income before taxes is $100 and your tax rate is 30%, your taxes are $30 and your profit is $70.

If your payroll increases by $10, your income before taxes is $90, your taxes are $27 and your profit is $63.

Nice job trying to nit pick and I'm correct that tax liability on gross earnings will decrease putting more money in the business account rather than the US Treasury's. Point still stands we can most certainly increase the min wage and my figure is fair.

btw.. Net earnings is called after tax income or true profit. Gross is what the tax is based on after the allowable deductions.

So -

Example 1 - 10 million gross sales - 5 million in deductions including payroll = 5 million in adjusted gross income.

Example 2 - 10 million is gross sales - 5.5 million in deductions (.5 increase due to payroll payout increase) = 4.5 million in adjusted gross income.

The lower the adjusted gross income the less tax you pay. It mostly evens out and certainly companies can pay a little extra if there is any increase, which should be minimal

Nit pick? LOL!

Employee payroll is 100% tax deductible off of corporate profit.

That's not a nit, that's a huge misunderstanding of how things work.

The lower the adjusted gross income the less tax you pay.

Absolutely. If your income before taxes was $1 million and you increase your payroll expenses by $1 million, you will pay no taxes.

It mostly evens out

If your tax rate is 30%, you'd end up reducing your profit by 70% of the increased employee payroll costs.
Just as I showed in my example. Profit was reduced by 10%. It didn't "mostly even out".

 

[Judicial review]

To $9.25 an hour. FYI, I've worked years ago 3rd shift jobs that obviously for a reason pay more per hour then day time that pay min $9.25 an hour.

For the conservative idiots that think this will hurt businesses it won't. Why? Employee payroll is 100% tax deductible off of corporate profit. They get this money back by having to pay less in taxes. Plus, with all the companies dropping medical coverage which is going to save the big corps millions and the small corps thousands, they have extra money and as a business owner they should put it towards their employees for business productivity and employee morale reasons.

Walmart starting in 2015 is raising their min wage FINALLY. FYI, if you are an small business owner and can only pay 7.25 an hour then what the hell are you doing in business? You shouldn't be.

For the conservative idiots that think this will hurt businesses it won't. Why? Employee payroll is 100% tax deductible off of corporate profit. They get this money back by having to pay less in taxes.

Ummm.....payroll is deductible from earnings, not from profit.

If your income before taxes is $100 and your tax rate is 30%, your taxes are $30 and your profit is $70.

If your payroll increases by $10, your income before taxes is $90, your taxes are $27 and your profit is $63.

Nice job trying to nit pick and I'm correct that tax liability on gross earnings will decrease putting more money in the business account rather than the US Treasury's. Point still stands we can most certainly increase the min wage and my figure is fair.

btw.. Net earnings is called after tax income or true profit. Gross is what the tax is based on after the allowable deductions.

So -

Example 1 - 10 million gross sales - 5 million in deductions including payroll = 5 million in adjusted gross income.

Example 2 - 10 million is gross sales - 5.5 million in deductions (.5 increase due to payroll payout increase) = 4.5 million in adjusted gross income.

The lower the adjusted gross income the less tax you pay. It mostly evens out and certainly companies can pay a little extra if there is any increase, which should be minimal

Nit pick? LOL!

Employee payroll is 100% tax deductible off of corporate profit.

That's not a nit, that's a huge misunderstanding of how things work.

The lower the adjusted gross income the less tax you pay.

Absolutely. If your income before taxes was $1 million and you increase your payroll expenses by $1 million, you will pay no taxes.

It mostly evens out

If your tax rate is 30%, you'd end up reducing your profit by 70% of the increased employee payroll costs.
Just as I showed in my example. Profit was reduced by 10%. It didn't "mostly even out".

What you are doing is intentionally calling tax deduction a tax increase. Do you know what deduction means? Deductions are meant to lower your tax burden. That means your tax can only go down. Not up. The only thing you were correct about was that and I'll quote you, ".payroll is deductible from earnings." I highlight the key word. We BOTH agree that it is a tax "decrease. "

Now it's not as big as it would be if it was off of adjusted gross income or profit, but regardless it goes DOWN. Now you and I know darn well that all major corporations can without question afford an increase to $9.25 an hour. What's funny is I didn't even mention other savings companies are getting right now,

Full time to part time,
No longer providing employee healthcare coverage due to full time to part time and Obamacare. HUGE SAVINGS!
and lack of hiring meaning hoarding of corporate profits.
Hiring of 1099 independent contractors which work for less but get more work and more pay because they can do work for multiple companies at a time.

For corporations there are 3 MAJOR deductions for taxes - Payroll, Inventory, Insurance for employees, where companies pay for the majority of it. Like a match. That tax RATE you keep talking about will decrease due increase in payroll DEDUCTION amount, which lowers your gross income liability. .

Putting this in simple term for the retarded - Tax rate doesn't matter at all. You can be taxed at the same rate of 30% and pay less taxes if your gross income that you are liable to pay taxes on is decreased more, which you already agreed it does. This doesn't mean a loss of profit in fact it could very well increase corporate profits in 2 ways - 1.) By reducing taxes owed you save money. 2.) By paying employees well it can affect their performance on the job and be a direct result of more sales and more regular customers meaning higher corporate profits, which means your taxes could actually increase, but not as a result of higher employee pay, but more sales and business, which is what corporations want, and they'll need that higher payroll deduction.

I know what you are trying to do and it won't work. Like I said, "my point still stands." Major fail dude.

 

[Two Thumbs]

No conservative would support the government forcing Americans to do jackshit.

In the name of saving a penny, support the aca

it might work this time

 

[Judicial review]

No conservative would support the government forcing Americans to do jackshit.

In the name of saving a penny, support the aca

it might work this time

We already have a federal min wage. They already do.

 

[theHawk]

All people have to do is pick up a book and educate themselves if they want to get paid more.

 

[Toro]

Before minimum wage increase

Revenues $100
Payroll $70
Income before taxes $30
Income tax (30%) $9
Net income $21

Minimum wage increases payroll to $80

Revenues $100
Payroll $80
Income before taxes $20
Income tax (30%) $6
Net income $14.

The profit of the business falls.

 

[rightwinger]

Before minimum wage increase

Revenues $100
Payroll $70
Income before taxes $30
Income tax (30%) $9
Net income $21

Minimum wage increases payroll to $80

Revenues $100
Payroll $80
Income before taxes $20
Income tax (30%) $6
Net income $14.

The profit of the business falls.

Good point

But it ignores the fact that stagnant minimum wages have allowed profits to rise over the last seven years that are not being shared with the workforce

 

[Toro]

Before minimum wage increase

Revenues $100
Payroll $70
Income before taxes $30
Income tax (30%) $9
Net income $21

Minimum wage increases payroll to $80

Revenues $100
Payroll $80
Income before taxes $20
Income tax (30%) $6
Net income $14.

The profit of the business falls.

Good point

But it ignores the fact that stagnant minimum wages have allowed profits to rise over the last seven years that are not being shared with the workforce

That may or may not be, but the OP said that it wouldn't hurt business because the increase is "100% tax deductible off of corporate profit." That is incorrect, as shown mathematically.

 

[Toddsterpatriot]

To $9.25 an hour. FYI, I've worked years ago 3rd shift jobs that obviously for a reason pay more per hour then day time that pay min $9.25 an hour.

For the conservative idiots that think this will hurt businesses it won't. Why? Employee payroll is 100% tax deductible off of corporate profit. They get this money back by having to pay less in taxes. Plus, with all the companies dropping medical coverage which is going to save the big corps millions and the small corps thousands, they have extra money and as a business owner they should put it towards their employees for business productivity and employee morale reasons.

Walmart starting in 2015 is raising their min wage FINALLY. FYI, if you are an small business owner and can only pay 7.25 an hour then what the hell are you doing in business? You shouldn't be.

For the conservative idiots that think this will hurt businesses it won't. Why? Employee payroll is 100% tax deductible off of corporate profit. They get this money back by having to pay less in taxes.

Ummm.....payroll is deductible from earnings, not from profit.

If your income before taxes is $100 and your tax rate is 30%, your taxes are $30 and your profit is $70.

If your payroll increases by $10, your income before taxes is $90, your taxes are $27 and your profit is $63.

Nice job trying to nit pick and I'm correct that tax liability on gross earnings will decrease putting more money in the business account rather than the US Treasury's. Point still stands we can most certainly increase the min wage and my figure is fair.

btw.. Net earnings is called after tax income or true profit. Gross is what the tax is based on after the allowable deductions.

So -

Example 1 - 10 million gross sales - 5 million in deductions including payroll = 5 million in adjusted gross income.

Example 2 - 10 million is gross sales - 5.5 million in deductions (.5 increase due to payroll payout increase) = 4.5 million in adjusted gross income.

The lower the adjusted gross income the less tax you pay. It mostly evens out and certainly companies can pay a little extra if there is any increase, which should be minimal

Nit pick? LOL!

Employee payroll is 100% tax deductible off of corporate profit.

That's not a nit, that's a huge misunderstanding of how things work.

The lower the adjusted gross income the less tax you pay.

Absolutely. If your income before taxes was $1 million and you increase your payroll expenses by $1 million, you will pay no taxes.

It mostly evens out

If your tax rate is 30%, you'd end up reducing your profit by 70% of the increased employee payroll costs.
Just as I showed in my example. Profit was reduced by 10%. It didn't "mostly even out".

What you are doing is intentionally calling tax deduction a tax increase. Do you know what deduction means? Deductions are meant to lower your tax burden. That means your tax can only go down. Not up. The only thing you were correct about was that and I'll quote you, ".payroll is deductible from earnings." I highlight the key word. We BOTH agree that it is a tax "decrease. "

Now it's not as big as it would be if it was off of adjusted gross income or profit, but regardless it goes DOWN. Now you and I know darn well that all major corporations can without question afford an increase to $9.25 an hour. What's funny is I didn't even mention other savings companies are getting right now,

Full time to part time,
No longer providing employee healthcare coverage due to full time to part time and Obamacare. HUGE SAVINGS!
and lack of hiring meaning hoarding of corporate profits.
Hiring of 1099 independent contractors which work for less but get more work and more pay because they can do work for multiple companies at a time.

For corporations there are 3 MAJOR deductions for taxes - Payroll, Inventory, Insurance for employees, where companies pay for the majority of it. Like a match. That tax RATE you keep talking about will decrease due increase in payroll DEDUCTION amount, which lowers your gross income liability. .

Putting this in simple term for the retarded - Tax rate doesn't matter at all. You can be taxed at the same rate of 30% and pay less taxes if your gross income that you are liable to pay taxes on is decreased more, which you already agreed it does. This doesn't mean a loss of profit in fact it could very well increase corporate profits in 2 ways - 1.) By reducing taxes owed you save money. 2.) By paying employees well it can affect their performance on the job and be a direct result of more sales and more regular customers meaning higher corporate profits, which means your taxes could actually increase, but not as a result of higher employee pay, but more sales and business, which is what corporations want, and they'll need that higher payroll deduction.

I know what you are trying to do and it won't work. Like I said, "my point still stands." Major fail dude.

What you are doing is intentionally calling tax deduction a tax increase.

No I didn't. Not once. Not even a little bit.

Do you know what deduction means?

I do. Better than you.

We BOTH agree that it is a tax "decrease. "

Where we disagree is the impact on profit. You think it remains the same. I know it doesn't.

Now it's not as big as it would be if it was off of adjusted gross income or profit

I know, your original claim, "Employee payroll is 100% tax deductible off of corporate profit", was wrong, the opposite of right.

What's funny is I didn't even mention other savings companies are getting right now,
Full time to part time,
No longer providing employee healthcare coverage due to full time to part time and Obamacare.

It is funny that you didn't mention the ways Obamacare is screwing workers. Thanks.

That tax RATE you keep talking about will decrease due increase in payroll DEDUCTION amount, which lowers your gross income liability.

Yes, lower profit means lower taxes. Which still means lower profit.

Putting this in simple term for the retarded

I wouldn't say you're retarded, just ignorant.

Tax rate doesn't matter at all.

See?

Like I said, "my point still stands."

Like I said, you're ignorant.

 

[Two Thumbs]

No conservative would support the government forcing Americans to do jackshit.

In the name of saving a penny, support the aca

it might work this time

We already have a federal min wage. They already do.

That's not an excuse for more tyranny

 

[bripat9643]

To $9.25 an hour. FYI, I've worked years ago 3rd shift jobs that obviously for a reason pay more per hour then day time that pay min $9.25 an hour.

For the conservative idiots that think this will hurt businesses it won't. Why? Employee payroll is 100% tax deductible off of corporate profit. They get this money back by having to pay less in taxes. Plus, with all the companies dropping medical coverage which is going to save the big corps millions and the small corps thousands, they have extra money and as a business owner they should put it towards their employees for business productivity and employee morale reasons.

Walmart starting in 2015 is raising their min wage FINALLY. FYI, if you are an small business owner and can only pay 7.25 an hour then what the hell are you doing in business? You shouldn't be.

No one ever claimed it hurts business, numskull. They claim it hurts the very people it is supposedly intended to help: those on the bottom rung of the economic ladder. Raising the minimum wage doesn't do them much good if they get laid off or never get hired.

 

[Judicial review]

To $9.25 an hour. FYI, I've worked years ago 3rd shift jobs that obviously for a reason pay more per hour then day time that pay min $9.25 an hour.

For the conservative idiots that think this will hurt businesses it won't. Why? Employee payroll is 100% tax deductible off of corporate profit. They get this money back by having to pay less in taxes. Plus, with all the companies dropping medical coverage which is going to save the big corps millions and the small corps thousands, they have extra money and as a business owner they should put it towards their employees for business productivity and employee morale reasons.

Walmart starting in 2015 is raising their min wage FINALLY. FYI, if you are an small business owner and can only pay 7.25 an hour then what the hell are you doing in business? You shouldn't be.

No one ever claimed it hurts business, numskull. They claim it hurts the very people it is supposedly intended to help: those on the bottom rung of the economic ladder. Raising the minimum wage doesn't do them much good if they get laid off or never get hired.

But it increases their income to qualify and afford an appt in a better neighborhood with better schools and more resources to get out of poverty and into the middle class. That was my point.

 

[bripat9643]

To $9.25 an hour. FYI, I've worked years ago 3rd shift jobs that obviously for a reason pay more per hour then day time that pay min $9.25 an hour.

For the conservative idiots that think this will hurt businesses it won't. Why? Employee payroll is 100% tax deductible off of corporate profit. They get this money back by having to pay less in taxes. Plus, with all the companies dropping medical coverage which is going to save the big corps millions and the small corps thousands, they have extra money and as a business owner they should put it towards their employees for business productivity and employee morale reasons.

Walmart starting in 2015 is raising their min wage FINALLY. FYI, if you are an small business owner and can only pay 7.25 an hour then what the hell are you doing in business? You shouldn't be.

No one ever claimed it hurts business, numskull. They claim it hurts the very people it is supposedly intended to help: those on the bottom rung of the economic ladder. Raising the minimum wage doesn't do them much good if they get laid off or never get hired.

But it increases their income to qualify and afford an appt in a better neighborhood with better schools and more resources to get out of poverty and into the middle class. That was my point.

Not if they don't have a job.

 

[Judicial review]

To $9.25 an hour. FYI, I've worked years ago 3rd shift jobs that obviously for a reason pay more per hour then day time that pay min $9.25 an hour.

For the conservative idiots that think this will hurt businesses it won't. Why? Employee payroll is 100% tax deductible off of corporate profit. They get this money back by having to pay less in taxes. Plus, with all the companies dropping medical coverage which is going to save the big corps millions and the small corps thousands, they have extra money and as a business owner they should put it towards their employees for business productivity and employee morale reasons.

Walmart starting in 2015 is raising their min wage FINALLY. FYI, if you are an small business owner and can only pay 7.25 an hour then what the hell are you doing in business? You shouldn't be.

No one ever claimed it hurts business, numskull. They claim it hurts the very people it is supposedly intended to help: those on the bottom rung of the economic ladder. Raising the minimum wage doesn't do them much good if they get laid off or never get hired.

But it increases their income to qualify and afford an appt in a better neighborhood with better schools and more resources to get out of poverty and into the middle class. That was my point.

Not if they don't have a job.

The whole point of asking and raising the min wage is to make it worth it to get a job. wtf are you talking about? Trust me since you and me say it doesn't hurt businesses mainly bi businesses, then they will suck it up and hire. There will without question be jobs. They are hoarding record profits right now and conservatives know that.

 

[norwegen]

No conservative would support the government forcing Americans to do jackshit.

In the name of saving a penny, support the aca

it might work this time

Yup. JR is not a conservative. To the conservative mind, people should be free to negotiate their own terms.

 

[norwegen]

To $9.25 an hour. FYI, I've worked years ago 3rd shift jobs that obviously for a reason pay more per hour then day time that pay min $9.25 an hour.

For the conservative idiots that think this will hurt businesses it won't. Why? Employee payroll is 100% tax deductible off of corporate profit. They get this money back by having to pay less in taxes. Plus, with all the companies dropping medical coverage which is going to save the big corps millions and the small corps thousands, they have extra money and as a business owner they should put it towards their employees for business productivity and employee morale reasons.

Walmart starting in 2015 is raising their min wage FINALLY. FYI, if you are an small business owner and can only pay 7.25 an hour then what the hell are you doing in business? You shouldn't be.

No one ever claimed it hurts business, numskull. They claim it hurts the very people it is supposedly intended to help: those on the bottom rung of the economic ladder. Raising the minimum wage doesn't do them much good if they get laid off or never get hired.

But it increases their income to qualify and afford an appt in a better neighborhood with better schools and more resources to get out of poverty and into the middle class. That was my point.

Not if they don't have a job.

The whole point of asking and raising the min wage is to make it worth it to get a job. wtf are you talking about?

Reducing welfare benefits would do the same thing.