Minimum Wage Increase: They Never Talks About the SALES

[bripat9643]

dear, you're a lib commie who supports MW and probably 1000 other libcommie interventions!!!

No, you're an ignorant fool, who hasn't kep pace with Conservatism, and doesn't even know that supporting the MW increase is a Conservative position. As for my politics,

1. I support invading Iran, taking over the country and keeping troops there to insure no nuclear development takes place.

2. I support invading Pakistan and seizing their 100+ nuclear warheads, and bringing back to the US to be secured.

3. I support closing all mosques and Islamic centers, and elimination of all Korans in America, Islam is banned in America by Article 6, Section 2 of the Constituion (the Supremacy clause) & US Codes 238 & 2385.

4. I support eradication of all Muslim Brotherhood front groups in America (CAIR, ISNA, MSA, MAYA, etc)

5. I support 100% ban on Affirmative Action, nationwide.

6. I support 100% ban on same sex marriage, nationwide.

7. I support the death penalty, and reduction of the appeals process to 2 years maximum.

8. I support a mass deportation of ALL illegal aliens (Operation Wetback II)

9. I support sending as many ground troops to Iraq, Syria, Afghanistan,an delsewhere to EXTERMINATE ISIS, the Taliban and all elements of the international jihad.

10. I support the arrests of Barrack Obama, Al Sharpton, and Eric Holder on charges of treason.

11. Wouldn't the liberals in this forum, who I have warred against, get a kick out of some fool calling me a "liberal" ?

dear, you are not an economic conservative if you support MW and protectionism and probably 1000 other economic interventions. As far as your other positions- well, I would describe them as too insane to have a meaningful political label.

If you think they're insane, you're a LIBERAL. And supporting MW raise is a Conservative position, supporti=ed by conservatives 54% to 44%.

It's not a conservative position, numskull. It's just Voo Doo that the large mass of idiots who populate this country can easily be talked into.

 

[bripat9643]

. What do you think created that price in the first place ?

the cost obviously!! If your cost and thus price is higher than your worldwide competition you are on the road to bankruptcy.

Price is the lowest amount possible above the lowest possible cost of production. Any more and your competition drives you into bankruptcy

Price is where the supply curve and the demand curve intersect. Every student who has taken first year economics knows that.

Which means that a higher minimum wage doesn't guarantee higher prices.

True, it means more unemployment.

 

[JoeMoma]

I've learned that if the minimum wage is raised to $15 per hour, it will not effect the market price of burgers. McDonalds will keep the price of burgers the same because it is already the price that maximizes profit. However, sales will increase so that McDonalds' profit will also increase. This will also be true if the minimum wage is raised to $50 per hour. The sales of burgers will be through the roof, and McDonalds will make a huge profit without raising the price of burgers. They can't raise the price of burgers because the price is aready set by the market. Therefore, the minimum wage is not a variable that affects the market price of goods and services, but it is a variable that affects sales and profit.

Do I pass the Protectionist Econ Class?

 

[bripat9643]

. What do you think created that price in the first place ?

the cost obviously!! If your cost and thus price is higher than your worldwide competition you are on the road to bankruptcy.

Price is the lowest amount possible above the lowest possible cost of production. Any more and your competition drives you into bankruptcy

Price is where the supply curve and the demand curve intersect. Every student who has taken first year economics knows that.

Which means that a higher minimum wage doesn't guarantee higher prices.

You're conceding the fact that the minimum wage will cause unemployment.

 

[NYcarbineer]

. What do you think created that price in the first place ?

the cost obviously!! If your cost and thus price is higher than your worldwide competition you are on the road to bankruptcy.

Price is the lowest amount possible above the lowest possible cost of production. Any more and your competition drives you into bankruptcy

Price is where the supply curve and the demand curve intersect. Every student who has taken first year economics knows that.

Which means that a higher minimum wage doesn't guarantee higher prices.

True, it means more unemployment.

South Dakota MacDonald's have been paying up to $15/hour because of the labor shortage in the oil boom. How is that possible if raising the minimum wage to 9 bucks is going to cause MacDonald's to lay off people or go out of business?

 

[NYcarbineer]

. What do you think created that price in the first place ?

the cost obviously!! If your cost and thus price is higher than your worldwide competition you are on the road to bankruptcy.

Price is the lowest amount possible above the lowest possible cost of production. Any more and your competition drives you into bankruptcy

Price is where the supply curve and the demand curve intersect. Every student who has taken first year economics knows that.

Which means that a higher minimum wage doesn't guarantee higher prices.

You're conceding the fact that the minimum wage will cause unemployment.

You can't lay off people you need.

And if some marginal businesses fail so what? The net effect is that the vast majority of minimum wage workers will be better off.

 

[NYcarbineer]

It's the core flaw in their argument.

They don't have ANY argument, period.

dear if you protect your industries you have to make everything yourself and you die in poverty as a result.

Do you understand??

They don't understand...they think that if you simply increase salaries the employees will have more money to spend...never explaining where the money comes from in the first place....they are so fucking clueless....

And never understanding that the government promotes increasing the minimum wage because it is planning to devalue debts with inflation via expanding the money supply. Must keep the tax serfs complacent.

The inflation adjusted minimum wage has been falling for 45 years.

How low is low enough?

 

[JoeMoma]

. What do you think created that price in the first place ?

the cost obviously!! If your cost and thus price is higher than your worldwide competition you are on the road to bankruptcy.

Price is the lowest amount possible above the lowest possible cost of production. Any more and your competition drives you into bankruptcy

Price is where the supply curve and the demand curve intersect. Every student who has taken first year economics knows that.

Which means that a higher minimum wage doesn't guarantee higher prices.

True, it means more unemployment.

South Dakota MacDonald's have been paying up to $15/hour because of the labor shortage in the oil boom. How is that possible if raising the minimum wage to 9 bucks is going to cause MacDonald's to lay off people or go out of business?

The market price for unskilled labor is higher than the minimum wage in South Dakota because of an economic boom caused by oil.....say it's not so!

 

[NYcarbineer]

the cost obviously!! If your cost and thus price is higher than your worldwide competition you are on the road to bankruptcy.

Price is the lowest amount possible above the lowest possible cost of production. Any more and your competition drives you into bankruptcy

Price is where the supply curve and the demand curve intersect. Every student who has taken first year economics knows that.

Which means that a higher minimum wage doesn't guarantee higher prices.

True, it means more unemployment.

South Dakota MacDonald's have been paying up to $15/hour because of the labor shortage in the oil boom. How is that possible if raising the minimum wage to 9 bucks is going to cause MacDonald's to lay off people or go out of business?

The market price for unskilled labor is higher than the minimum wage in South Dakota because of an economic boom caused by oil.....say it's not so!

Duh.

 

[NYcarbineer]

The minimum wage is just one more labor law to keep businesses from exploiting labor, like the 40 hour week, the 8 hour day, workplace safety laws, anti-child labor laws, etc., etc.

If you want labor exploited, you don't like the minimum wage law.

 

[JoeMoma]

The minimum wage is just one more labor law to keep businesses from exploiting labor, like the 40 hour week, the 8 hour day, workplace safety laws, anti-child labor laws, etc., etc.

If you want labor exploited, you don't like the minimum wage law.

Does South Dakota need a higher minimum wage if unskilled labor is already earning nearly 15 per hour?

 

[Wyatt earp]

Republicans think "Supply and demand" is some ridiculous liberal policy that has no chance of ever working. They think it's the "job creators" who run the economy. You only need to make sure the "job creators" have enough money and they will create jobs.

Republicans simply don't understand that when people have money and spend it, that drives the economy. You can try to explain it to them, but like science, they not only don't get it, they won't get it.

The only thing I would disagree with you on, is that only SOME Republicans think as you described. Recent Gallup polls shows clear majorities of both Republicans and Conservatives supporting minimum wage raises. Conservative opposition to MW increase is a thing of the past.

Yes...they have been brow beaten into allowing jobs to be lost, businesses to close....and the funny thing...these republicans will get blamed when all of that happens....and then the democrats will say the minimum wage needs to be raised to help all those people now out of work...and working reduced hours.....

You are programmed to believe that minimum wage raises = unemployment. This is a ludicrous myth. And if/whenever Republicans believe it (which a minority of them still do), and this transfers into the voting booth, this will greatly help Democrats who overwhelmingly don't fall for the myth, since raising the MW is a highly popular issue, and thise opposed to it are making themselves unpopular. Great way toi cause yourself to lose an election.

So now allow me to attempt to DEPROGRAM YOU.

Employers function with a number of employees that bring them the most income/profit. They CANNOT reduce staff. Any more or less employees results in SALES and income reduction. Layoffs result in losses, not gains.

So let's go back to the case of my ex-wife, and the boutique she used to own in a mall in California, back in the 80s. On July 1, 1988, the California minimum wage went up from $3.35/hour to $4.25. You think this hindered my wife's business ? It was never better than after that MW raise. More DISPOSABLE INCOME. More customers. More sales$$$.No need to do anything except listen to the sweet sound of the cash register ringing, much more often.
As for the idea of laying people off, my wife had 10 employees in her little store. Why does anyone here think she had 10 ? You posters think 10 was her lucky number ? You think maybe that was her birthday ? So why 10 rather than 9 ? You think she was a philanthropist, and just wanted to gave another person a job ?

It was because she MADE MORE MONEY WITH 10, than any other number, that's why. And it's the only reason why. So if she cut even one person, she'd LOSE money from reduced sales. That's why she had 10 in the first place. It was the number that maximized her sales. That's all there is to it.

God Damn you are dumb sales might have went up but its just a Fucking number, buying power went down, a $1000 dollars put under a mattress in 1986 is only worth around $600 today and artificially raising wages is trickle up poor, people making $8 to $15 dollars won't get a raise

 

[NYcarbineer]

Republicans think "Supply and demand" is some ridiculous liberal policy that has no chance of ever working. They think it's the "job creators" who run the economy. You only need to make sure the "job creators" have enough money and they will create jobs.

Republicans simply don't understand that when people have money and spend it, that drives the economy. You can try to explain it to them, but like science, they not only don't get it, they won't get it.

The only thing I would disagree with you on, is that only SOME Republicans think as you described. Recent Gallup polls shows clear majorities of both Republicans and Conservatives supporting minimum wage raises. Conservative opposition to MW increase is a thing of the past.

Yes...they have been brow beaten into allowing jobs to be lost, businesses to close....and the funny thing...these republicans will get blamed when all of that happens....and then the democrats will say the minimum wage needs to be raised to help all those people now out of work...and working reduced hours.....

You are programmed to believe that minimum wage raises = unemployment. This is a ludicrous myth. And if/whenever Republicans believe it (which a minority of them still do), and this transfers into the voting booth, this will greatly help Democrats who overwhelmingly don't fall for the myth, since raising the MW is a highly popular issue, and thise opposed to it are making themselves unpopular. Great way toi cause yourself to lose an election.

So now allow me to attempt to DEPROGRAM YOU.

Employers function with a number of employees that bring them the most income/profit. They CANNOT reduce staff. Any more or less employees results in SALES and income reduction. Layoffs result in losses, not gains.

So let's go back to the case of my ex-wife, and the boutique she used to own in a mall in California, back in the 80s. On July 1, 1988, the California minimum wage went up from $3.35/hour to $4.25. You think this hindered my wife's business ? It was never better than after that MW raise. More DISPOSABLE INCOME. More customers. More sales$$$.No need to do anything except listen to the sweet sound of the cash register ringing, much more often.
As for the idea of laying people off, my wife had 10 employees in her little store. Why does anyone here think she had 10 ? You posters think 10 was her lucky number ? You think maybe that was her birthday ? So why 10 rather than 9 ? You think she was a philanthropist, and just wanted to gave another person a job ?

It was because she MADE MORE MONEY WITH 10, than any other number, that's why. And it's the only reason why. So if she cut even one person, she'd LOSE money from reduced sales. That's why she had 10 in the first place. It was the number that maximized her sales. That's all there is to it.

God Damn you are dumb sales might have went up but its just a Fucking number, buying power went down, a $1000 dollars put under a mattress in 1986 is only worth around $600 today and artificially raising wages is trickle up poor, people making $8 to $15 dollars won't get a raise

The minimum wage adjusted for inflation has fallen for 45 years, so any attempt by nuts like you to blame the minimum wage for inflation is pure bullshit.

 

[Wyatt earp]

Republicans think "Supply and demand" is some ridiculous liberal policy that has no chance of ever working. They think it's the "job creators" who run the economy. You only need to make sure the "job creators" have enough money and they will create jobs.

Republicans simply don't understand that when people have money and spend it, that drives the economy. You can try to explain it to them, but like science, they not only don't get it, they won't get it.

The only thing I would disagree with you on, is that only SOME Republicans think as you described. Recent Gallup polls shows clear majorities of both Republicans and Conservatives supporting minimum wage raises. Conservative opposition to MW increase is a thing of the past.

Yes...they have been brow beaten into allowing jobs to be lost, businesses to close....and the funny thing...these republicans will get blamed when all of that happens....and then the democrats will say the minimum wage needs to be raised to help all those people now out of work...and working reduced hours.....

You are programmed to believe that minimum wage raises = unemployment. This is a ludicrous myth. And if/whenever Republicans believe it (which a minority of them still do), and this transfers into the voting booth, this will greatly help Democrats who overwhelmingly don't fall for the myth, since raising the MW is a highly popular issue, and thise opposed to it are making themselves unpopular. Great way toi cause yourself to lose an election.

So now allow me to attempt to DEPROGRAM YOU.

Employers function with a number of employees that bring them the most income/profit. They CANNOT reduce staff. Any more or less employees results in SALES and income reduction. Layoffs result in losses, not gains.

So let's go back to the case of my ex-wife, and the boutique she used to own in a mall in California, back in the 80s. On July 1, 1988, the California minimum wage went up from $3.35/hour to $4.25. You think this hindered my wife's business ? It was never better than after that MW raise. More DISPOSABLE INCOME. More customers. More sales$$$.No need to do anything except listen to the sweet sound of the cash register ringing, much more often.
As for the idea of laying people off, my wife had 10 employees in her little store. Why does anyone here think she had 10 ? You posters think 10 was her lucky number ? You think maybe that was her birthday ? So why 10 rather than 9 ? You think she was a philanthropist, and just wanted to gave another person a job ?

It was because she MADE MORE MONEY WITH 10, than any other number, that's why. And it's the only reason why. So if she cut even one person, she'd LOSE money from reduced sales. That's why she had 10 in the first place. It was the number that maximized her sales. That's all there is to it.

God Damn you are dumb sales might have went up but its just a Fucking number, buying power went down, a $1000 dollars put under a mattress in 1986 is only worth around $600 today and artificially raising wages is trickle up poor, people making $8 to $15 dollars won't get a raise

The minimum wage adjusted for inflation has fallen for 45 years, so any attempt by nuts like you to blame the minimum wage for inflation is pure bullshit.

it's part of the problem blow hard, your precious socialist country's like Denmark don't even have a minimum wage

 

[NYcarbineer]

The only thing I would disagree with you on, is that only SOME Republicans think as you described. Recent Gallup polls shows clear majorities of both Republicans and Conservatives supporting minimum wage raises. Conservative opposition to MW increase is a thing of the past.

Yes...they have been brow beaten into allowing jobs to be lost, businesses to close....and the funny thing...these republicans will get blamed when all of that happens....and then the democrats will say the minimum wage needs to be raised to help all those people now out of work...and working reduced hours.....

You are programmed to believe that minimum wage raises = unemployment. This is a ludicrous myth. And if/whenever Republicans believe it (which a minority of them still do), and this transfers into the voting booth, this will greatly help Democrats who overwhelmingly don't fall for the myth, since raising the MW is a highly popular issue, and thise opposed to it are making themselves unpopular. Great way toi cause yourself to lose an election.

So now allow me to attempt to DEPROGRAM YOU.

Employers function with a number of employees that bring them the most income/profit. They CANNOT reduce staff. Any more or less employees results in SALES and income reduction. Layoffs result in losses, not gains.

So let's go back to the case of my ex-wife, and the boutique she used to own in a mall in California, back in the 80s. On July 1, 1988, the California minimum wage went up from $3.35/hour to $4.25. You think this hindered my wife's business ? It was never better than after that MW raise. More DISPOSABLE INCOME. More customers. More sales$$$.No need to do anything except listen to the sweet sound of the cash register ringing, much more often.
As for the idea of laying people off, my wife had 10 employees in her little store. Why does anyone here think she had 10 ? You posters think 10 was her lucky number ? You think maybe that was her birthday ? So why 10 rather than 9 ? You think she was a philanthropist, and just wanted to gave another person a job ?

It was because she MADE MORE MONEY WITH 10, than any other number, that's why. And it's the only reason why. So if she cut even one person, she'd LOSE money from reduced sales. That's why she had 10 in the first place. It was the number that maximized her sales. That's all there is to it.

God Damn you are dumb sales might have went up but its just a Fucking number, buying power went down, a $1000 dollars put under a mattress in 1986 is only worth around $600 today and artificially raising wages is trickle up poor, people making $8 to $15 dollars won't get a raise

The minimum wage adjusted for inflation has fallen for 45 years, so any attempt by nuts like you to blame the minimum wage for inflation is pure bullshit.

it's part of the problem blow hard, your precious socialist country's like Denmark don't even have a minimum wage

How can something that gets cheaper for 45 years be in any way contributory to inflation over that time period?

 

[Wyatt earp]

Yes...they have been brow beaten into allowing jobs to be lost, businesses to close....and the funny thing...these republicans will get blamed when all of that happens....and then the democrats will say the minimum wage needs to be raised to help all those people now out of work...and working reduced hours.....

You are programmed to believe that minimum wage raises = unemployment. This is a ludicrous myth. And if/whenever Republicans believe it (which a minority of them still do), and this transfers into the voting booth, this will greatly help Democrats who overwhelmingly don't fall for the myth, since raising the MW is a highly popular issue, and thise opposed to it are making themselves unpopular. Great way toi cause yourself to lose an election.

So now allow me to attempt to DEPROGRAM YOU.

Employers function with a number of employees that bring them the most income/profit. They CANNOT reduce staff. Any more or less employees results in SALES and income reduction. Layoffs result in losses, not gains.

So let's go back to the case of my ex-wife, and the boutique she used to own in a mall in California, back in the 80s. On July 1, 1988, the California minimum wage went up from $3.35/hour to $4.25. You think this hindered my wife's business ? It was never better than after that MW raise. More DISPOSABLE INCOME. More customers. More sales$$$.No need to do anything except listen to the sweet sound of the cash register ringing, much more often.
As for the idea of laying people off, my wife had 10 employees in her little store. Why does anyone here think she had 10 ? You posters think 10 was her lucky number ? You think maybe that was her birthday ? So why 10 rather than 9 ? You think she was a philanthropist, and just wanted to gave another person a job ?

It was because she MADE MORE MONEY WITH 10, than any other number, that's why. And it's the only reason why. So if she cut even one person, she'd LOSE money from reduced sales. That's why she had 10 in the first place. It was the number that maximized her sales. That's all there is to it.

God Damn you are dumb sales might have went up but its just a Fucking number, buying power went down, a $1000 dollars put under a mattress in 1986 is only worth around $600 today and artificially raising wages is trickle up poor, people making $8 to $15 dollars won't get a raise

The minimum wage adjusted for inflation has fallen for 45 years, so any attempt by nuts like you to blame the minimum wage for inflation is pure bullshit.

it's part of the problem blow hard, your precious socialist country's like Denmark don't even have a minimum wage

How can something that gets cheaper for 45 years be in any way contributory to inflation over that time period?

seriously? Ever hear of millions of more people in the past 45 years?

 

[CrusaderFrank]

Just now, I saw another report about the topic of minimum wage increase. This one was on CNN, hosted by Julie Banderas. She was talking to Scott Gamm, of HelpSaveMyDollars.com, a financial website focused on helping consumers save and learn about money. They were talking about the recent 14-1 vote by the city of Los Angeles to raise the minimum wage to $15 by 2020.

Scott might be well versed on various aspects pertaining to consumer finances but, on the minimum wage raise, he is waaay off the mark. He said three things about the minimum wage raise topic. And he was WRONG on all three. Gamm merely recited the 3 most commonly heard (and programmed) descriptions about minimum wage raises.

1. He said it would cause jobs to be lost. FALSE! Employers function with a number of employees that bring them the most income/profit. They CANNOT reduce staff. Any more or less employees results in SALES and income reduction. Layoffs result in losses, not gains.

2. He (and Banderas too) said prices would be raised (or fees created) to compensate for the wage losses, and these losses would just be "passed on" to the customers. More FALSE! scare talk. Businesses CANNOT raise prices because they are already fixed at a market price, related to maximization of sales/income. Any change in price (up or down) results in reduction of SALES and income.

3. He said businesses will move away from LA. FALSE! (in most cases). Does Gamm think that closing down a business and moving to another location can be done scott (no pun intended) free ? Depending on the business, moving costs can vary from just barely economical, to completely UNeconomical, and the latter is much more often the case. Imagine a machine shop with over 100 large production machines, having to pack then all up and move miles away. Some businesses could do it. Not many.

So here's the real crux of all this. As in 1000 other media reports I've seen on minimum wage increases, the most important aspect of this is NEVER MENTIONED. Not a word. That is the increase in DISPOSABLE INCOME resulting in INCREASES SALES$$$. All businesses get this, and generally it far outweighs labor increases, since the number of wage raised consumers (not just those at the minimum wage) by far outnumbers any one employer's workers who are getting wage increases.

Then there's also the fact that many business, while receiving this big SALES boost, do NOT have any wage loss at all. These are businesses who are mom & pop and have no employees, those whose workers are all working just on sales commission (car lots, furniture, real estate, insurance, etc), and third, those with skilled workers (ex. machine shops) whose workers all already get well over $15 hour, or whatever the MW would be raised to.

I think back to when I owned a business. I paid my commission salespeople $350/hour (in 2015 dollars), and they still were only receiving 15% of the sale. In all, I made fine profits and expanded the business. Biggest downer ? All the people who called in and said > "Sorry. I can't afford it." Of course they can't. Not one somebody out there is paying them a low minimum wage. To be successful in business, you have a lot fo things to do. But you can't do anything, if the public around you doesn't have money in their pockets to buy what you're trying to sell.

This is why Conservatives who support raising the MW nationwide, outnumber Conservatives who don't, 54% to 44%.

the most important aspect of this is NEVER MENTIONED. Not a word. That is the increase in DISPOSABLE INCOME resulting in INCREASES SALES$$$.

If I pay my employees another $500,000 a year, are my sales supposed to increase by $500,000?
Is that supposed to be an even trade?

It's beyond moronic. You can tell the op is just totally full of crap. I stopped reading after that

 

[Darkwind]

Just now, I saw another report about the topic of minimum wage increase. This one was on CNN, hosted by Julie Banderas. She was talking to Scott Gamm, of HelpSaveMyDollars.com, a financial website focused on helping consumers save and learn about money. They were talking about the recent 14-1 vote by the city of Los Angeles to raise the minimum wage to $15 by 2020.

Scott might be well versed on various aspects pertaining to consumer finances but, on the minimum wage raise, he is waaay off the mark. He said three things about the minimum wage raise topic. And he was WRONG on all three. Gamm merely recited the 3 most commonly heard (and programmed) descriptions about minimum wage raises.

1. He said it would cause jobs to be lost. FALSE! Employers function with a number of employees that bring them the most income/profit. They CANNOT reduce staff. Any more or less employees results in SALES and income reduction. Layoffs result in losses, not gains.

2. He (and Banderas too) said prices would be raised (or fees created) to compensate for the wage losses, and these losses would just be "passed on" to the customers. More FALSE! scare talk. Businesses CANNOT raise prices because they are already fixed at a market price, related to maximization of sales/income. Any change in price (up or down) results in reduction of SALES and income.

3. He said businesses will move away from LA. FALSE! (in most cases). Does Gamm think that closing down a business and moving to another location can be done scott (no pun intended) free ? Depending on the business, moving costs can vary from just barely economical, to completely UNeconomical, and the latter is much more often the case. Imagine a machine shop with over 100 large production machines, having to pack then all up and move miles away. Some businesses could do it. Not many.

So here's the real crux of all this. As in 1000 other media reports I've seen on minimum wage increases, the most important aspect of this is NEVER MENTIONED. Not a word. That is the increase in DISPOSABLE INCOME resulting in INCREASES SALES$$$. All businesses get this, and generally it far outweighs labor increases, since the number of wage raised consumers (not just those at the minimum wage) by far outnumbers any one employer's workers who are getting wage increases.

Then there's also the fact that many business, while receiving this big SALES boost, do NOT have any wage loss at all. These are businesses who are mom & pop and have no employees, those whose workers are all working just on sales commission (car lots, furniture, real estate, insurance, etc), and third, those with skilled workers (ex. machine shops) whose workers all already get well over $15 hour, or whatever the MW would be raised to.

I think back to when I owned a business. I paid my commission salespeople $350/hour (in 2015 dollars), and they still were only receiving 15% of the sale. In all, I made fine profits and expanded the business. Biggest downer ? All the people who called in and said > "Sorry. I can't afford it." Of course they can't. Not one somebody out there is paying them a low minimum wage. To be successful in business, you have a lot fo things to do. But you can't do anything, if the public around you doesn't have money in their pockets to buy what you're trying to sell.

This is why Conservatives who support raising the MW nationwide, outnumber Conservatives who don't, 54% to 44%.

He is right, you are wrong.

Staff can absolutely be reduced, and not only that, those who remain will be expected to work longer hours. Its call automation. Workers can be replaced without any significant loss of output.

Prices have already begun to rise in anticipation of the new minimum wage of 10.10. Increase labor costs, and you WILL increase the product price. Just the same as a business that has to deal with inflating food costs, those costs get passed on. At some point, the owner begins to consider closing shop. That is the reality. My wife has nearly 300 employees and she is already cutting the lazy down to bare minimum hours so that they'll go elsewhere, and she is telling all of her staff that she is expecting an increase in output from them. Simply put, few of them are worth their current wage.

Business is already fleeing L.A. and California. This will only hasten that flight.

Have a nice day.

 

[CrusaderFrank]

He said it would cause jobs to be lost. FALSE! Employers function with a number of employees that bring them the most income/profit. They CANNOT reduce staff. Any more or less employees results in SALES and income reduction. Layoffs result in losses, not gains.

Where is the chart that shows employers the precise number of employees they should hire in order to get the most income/profit?


He (and Banderas too) said prices would be raised (or fees created) to compensate for the wage losses, and these losses would just be "passed on" to the customers. More FALSE! scare talk. Businesses CANNOT raise prices because they are already fixed at a market price, related to maximization of sales/income. Any change in price (up or down) results in reduction of SALES and income.
Where is the chart that shows employers the precise price level they need in order to get the most sales/income?

He said businesses will move away from LA. FALSE! (in most cases). Does Gamm think that closing down a business and moving to another location can be done scott (no pun intended) free ?

Did anyone say moving was free?

Depending on the business, moving costs can vary from just barely economical, to completely UNeconomical, and the latter is much more often the case. Imagine a machine shop with over 100 large production machines, having to pack then all up and move miles away.

Imagine a machine shop with over 100 large production machines, having to pay higher wages than the business could support. Imagine that business running at a loss, just because some politicians, who couldn't pass an Econ 101 class, created a stupid law.

Do you even realize how hollow this response is? You don't even have an argument. Any idiot taking an Econ class knows that consumer spending is what drives this economy. Consumer spending comes from paychecks. This isn't hard to grasp.

Can you name 3 nations with "consumers"?

 

[Wyatt earp]

Again even a lefty billionaire like Warren Buffett knows





FINANCE MINIMUM WAGE
Warren Buffett: $15 minimum wage will hurt the working class

• by
  
• Chris Matthews

• @crobmatthews

MAY 22, 2015, 11:23 AM

Billionaire investor Warren Buffett, chairman of Berkshire Hathaway, speaks on a mobile phone during an interview in New York, U.S., on Wednesday, June 25, 2008.Photograph by Daniel Acker — Bloomberg via Getty Images
The billionaire argues that we should help low-wage workers by investing in education instead.

Warren Buffett is a favorite of the American left for his support of such policies as higher taxes on the rich and healthcare reform.

But advocates for workers rights may be a little less pleased with the billionaire investor after he published an op-ed in The Wall Street Journal Friday, decrying the efforts in many cities across the United States to raise the minimum wage to as much as $15 per hour.

Buffett admitted that the middle class has increasingly hurt by an economy that rewards people with “specialized talents,” but not the vast majority of Americans who hold “more commonplace skills.” However, Buffett argues that trying to solve the problem of stagnant wages for working Americans by raising the minimum wage is misguided. Writes Buffett:

In my mind, the country’s economic policies should have two main objectives. First, we should wish, in our rich society, for every person who is willing to work to receive income that will provide him or her a decent lifestyle. Second, any plan to do that should not distort our market system, the key element required for growth and prosperity.

That second goal crumbles in the face of any plan to sizably increase the minimum wage. I may wish to have all jobs pay at least $15 an hour. But that minimum would almost certainly reduce employment in a major way, crushing many workers possessing only basic skills. Smaller increases, though obviously welcome, will still leave many hardworking Americans mired in poverty.