Minimum Wage Increase: They Never Talks About the SALES

[protectionist]

I would suggest child you open up a lemonade stand for starters
Or take a little course in economics 101

Not reading the thread, huh ? It was mentioned already that I'm a former college microeconomics 101 teacher. And that's what I've been doing here. Teaching it to YOU...you lucky dog.

 

[NYcarbineer]

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

If your pay just went up from $7.25 /hour to $15/hour, you can now buy a car, a boat, nice clothes, a guitar, etc. This year, next year, and the year after that. Have a nice day.

You really have no clue how money is made in a business..do you.....?

again...why not simply raise the rate to 1,000 dollars an hour...then we can all live in mansions and date supermodels....right?

Strawmen lose the argument for you. Sorry.

 

[Anathema]

uhm yea do you really Fucking think I care about overtime when I just worked 9 to 14 hours fixing a problem? No I am gone

If you don't then you're a fool in my mind. I work 4-10 hour days a week. I used to work 5-8 hour days. At the end of the scheduled shift I get up and walk out. Gee, the project isn't done?..... It'll be there tomorrow morning when I come back in. I've had the option of 8 hours of OT every week for 2 years. I haven't worked a single hour of it.

 

[protectionist]

It is a moral issue. It's setting a standard based on the common decency of believing that a day's work ought not be exploited, even IF the business can get away with it, even IF the market would allow it.
Part of what being civilized is is doing things you don't have to do but you do them for the greater good.
You can have civilized economic laws, or you can bow to the laws of the economic jungle.

Which is exactly the way these greed freaks would like it to be. Thankfully, now in 2015, even most Conservatives and Republicans don't accept their shallow, dishonor and lack of integrity.

 

[protectionist]

More proof in this thread that what conservatives want is a larger and larger gap between rich and poor.

FALSE! Polls show most Conservatives SUPPORT raising the minimum wage. Likewise with most Republicans. The people in this thread arguing against raising MW, don't represent American Conservatives. They represent just their own small, dishonorable, ignorant, dum dum group.

 

[Anathema]

Not reading the thread, huh ? It was mentioned already that I'm a former college microeconomics 101 teacher. And that's what I've been doing here. Teaching it to YOU...you lucky dog.

Those who can, DO. Those who can't, TEACH.

 

[protectionist]

Minimum Wage Increase: They Never Talks About the SALES

OK, dum dum MW raise opponents! Here's your chance. You may now talk about SALES$$$$ (and the nice boost of them you get from the MW raise) TALK!!

 

[protectionist]

Not reading the thread, huh ? It was mentioned already that I'm a former college microeconomics 101 teacher. And that's what I've been doing here. Teaching it to YOU...you lucky dog.

Those who can, DO. Those who can't, TEACH.

Like I said. You didn't read the thread.

 

[Wyatt earp]

I would suggest child you open up a lemonade stand for starters
Or take a little course in economics 101

Not reading the thread, huh ? It was mentioned already that I'm a former college microeconomics 101 teacher. And that's what I've been doing here. Teaching it to YOU...you lucky dog.

you know what amuses me? You claim to be a teacher on economics

You are retarded,guess you were Union

 

[Anathema]

Like I said. You didn't read the thread.

I don't need to read it to understand that college professor are so disconnected from reality as to be worthless in any discussion of reality. I say that as a college grad with multiple college professors in my family.

 

[protectionist]

If you read the thread, instead of being just jumping in here mindless, you'd know the correct situation, instead of the assclown comment you just made. Conservatives support raising the MW 54% to 44%. The link has been posted 10 times here already.

Link schmink, NO actual Conservative supports the minimum wage. Supporting it proves these people are NOT Conservatives.

Listen dumbass. I owned and managed a business for 12 years. I paid my people $350/hour (in 2015 dollars), and they still only got 15% of their sales. And my biggest problem was all the people who kept telling me "Sorry, I can't afford it" That inability of them to pay, was, by far, my worst problem. And it was because of screwballs like you who supported keeping the MW down, and all the business owners out there who were paying these guys MW, thereby limiting their capablity to buy the things we other business owners were trying to sell.

You guys aren't conservatives. You're just a bunch of low-life greed-freaks, and compared to my REAL conservatism you'd look like Nancy Pelosi.

 

[Delta4Embassy]

$15/hour is a gift. Accept it graciously or they might ask for something more in line with Australia and Europe like $22/hour.

 

[protectionist]

Like I said. You didn't read the thread.

I don't need to read it to understand that college professor are so disconnected from reality as to be worthless in any discussion of reality. I say that as a college grad with multiple college professors in my family.

If you read the thread, you'd also know that I was a business owner for 12 years, started on near zero $$, and expanded my business to 3 branch offices in 3 counties. Guys like you fuck up a thread like this.

Yeah, you need to read the thread. And you also need to take a college Microeconomics 101 course, you ignorant putz.

 

[Anathema]

If you read the thread, you'd also know that I was a business owner for 12 years, started on near zero $$, and expanded my business to 3 branch offices in 3 counties. Guys like you fuck up a thread like this.

Yeah, you need to read the thread. And you also need to take a college Microeconomics 101 course, you ignorant putz.

Ah, an Internationalist; someone who knows nothing about Morals either. Sorry to have wasted your time trying g to explain Right and Wrong to you.

I'm long since done with college and never had any interest in economics; micro or macro.

 

[Anathema]

Listen dumbass. I owned and managed a business for 12 years. I paid my people $350/hour (in 2015 dollars), and they still only got 15% of their sales. And my biggest problem was all the people who kept telling me "Sorry, I can't afford it" That inability of them to pay, was, by far, my worst problem. And it was because of screwballs like you who supported keeping the MW down, and all the business owners out there who were paying these guys MW, thereby limiting their capablity to buy the things we other business owners were trying to sell.

Don't market high end products to nitwits who don't have the capability to make more than minimum wage.

 

[JoeMoma]

again...why not simply raise the rate to 1,000 dollars an hour...then we can all live in mansions and date supermodels....right?

In most business, that would be too high for the business to be able to pay. In some others, it could still actually be too low.

How can it be too high? I thought that raising the minimum wage results in a increase in sales and and a increase in profits. Is there a limit to this? If so, how is the limit determined!

 

[CrusaderFrank]

The op and progressive amen choir show why progressives have a 100% fail rate at running an economy irrespective of size

Raising MW is not "progressive" It is supported by majorities of both progressives AND CONSERVATIVES. Please stop dirtying up the thread with ignorance.

Stop lying, Jake. It's pathological at this point.

Conservatives reject the minimum wage

 

[Toddsterpatriot]

Here's my side. A business that has $500,000 in increased payroll expenses, even if it recaptures that entire cost in increased sales, will still be less profitable than before.

Why would it be less profitable if it recaptured the entire cost in increased sales ?

A company has $1,000,000 in sales, $500,000 COGS and $300,000 in wage expenses.
Increase their wage expense by $100,000 and their sales by $100,000.
How does their new profit compare to their old profit? Let's hear it, Prof.

You're not talking about the minimum wage increasing. I have no interest in yout diversion BS, and neither should anyone else in this thread.

You're not talking about the minimum wage increasing.

I'm talking about your idiotic claim that an increase in wage expenses would be offset by an identical increase in sales. It's an idiotic claim and it's all you.

I have no interest in yout diversion BS,

Of course you have no interest. I very clearly refuted your claim.
Now you'll run away.

and neither should anyone else in this thread.

Only the people who understand real world economics will be interested.
Liberals and others uneducated in economics will avoid my refutation of your claim.

1. Dude, I told you way back in the thread, that in the case of businesses who have very large #s of MW workers (who have very little honor), and thus a large increase in cost, exceptions could be made for them if/whenever they show hardship. So why do you keep whining ?

2. You refuted nothing. Yo haven't shown a shed of evidence that your labor cost increase wouldn't be mitigated by your sales increases$$$$$$$$$$.

3. YOU are uneducated in economics. You don't even understand what millions of freshman year microeconomcs students understand. The bell-shaped curve of prices vs business income.

4. In this thread you are

2. You refuted nothing. Yo haven't shown a shed of evidence that your labor cost increase wouldn't be mitigated by your sales increases$$$$$$$$$$.

I used your own example to refute your claim, it doesn't get better than that.

The bell-shaped curve of prices vs business income.

Why would I need to get any deeper than revenue-expenses = profit?

Feel free to show the bell curve that refutes my example.

A company has $1,000,000 in sales, $500,000 COGS and $300,000 in wage expenses.
Increase their wage expense by $100,000 and their sales by $100,000.
How does their new profit compare to their old profit?

Use your curve, if you think it will help you answer my question. LOL!

Your example has nothing to do with this topic. The bell-shaped curve I showed explains it concisely. You just don't WANT to believe it. Here's what that is >> NOT MY PROBLEM.

Now how about if YOU answer the about dozen or so questions I challenged you with all through this thread ? (which up to now you been hiding under the desk)

Why would it be less profitable if it recaptured the entire cost in increased sales ?
Hilarious!!!

 

[Toddsterpatriot]

. 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.

And if some marginal businesses fail so what?

LOL!

Wait, the Professor said it won't hurt profits.

 

[Toddsterpatriot]

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

And then he claimed he taught economics.
Although, Obama taught Constitutional Law. Peas from the same idiotic pod.