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Raising MW raises disposable income for THOUSANDS of consumers. Get it ?Theoretically, as a milk producer, would that not put extra $$$s (AKA SALES??!?!) in my pocket?? Except, what about all those people who now have to pay extra for milk? You tell me, is paying more for milk a good thing or a bad thing? (AKA SALES??!!?!)
Stop polluting the thread with diversions, MR STRAW MAN.Yes...the next step.....make it illegal to fire or reduce hours.......and mandate that all businesses have to hire 10 people........and then slowly increase the number of people they have to hire...
That way they can't avoid not paying minimum wage....and then pass a law that says they can't close their business...that should do the trick....right?
Oh God. Who left the cage door open ? Look who's back. It's Torpedo Todd. Oh yeah, All those people who have the audacity to go around stating fundamental laws of business economics, all must be a bunch of idiots. Especially when it doesn't agree with some greed freak's ambitions to run over everyone in his path, on his way to billionaire status.Your item #1 is wrong.
Your item #2 is wrong.
You're an idiot.
Oh God. Who left the cage door open ? Look who's back. It's Torpedo Todd. Oh yeah, All those people who have the audacity to go around stating fundamental laws of business economics, all must be a bunch of idiots. Especially when it doesn't agree with some greed freak's ambitions to run over everyone in his path, on his way to billionaire status.Your item #1 is wrong.
Your item #2 is wrong.
You're an idiot.
Hey, torpedo, didn't you catch the part where I said you might qualify for an exemption ?
I suppose it never occured to you that by increasing price that diminishes the will of buyers to buy your product (and thus your sales are reduced) , is that right ?My gosh, buy a clue will you, please??? As a provider of milk, I'm not going to let you increase my costs w/o also increasing my prices, therefore, your increase in income is negated by my rise in prices. The only group hurt in this equation are those who a) aren't rich and b) aren't making minimum wage, ergo, the middle class - those already making more than minimum wage who have now seen their buying power decreased.
Sure, sure, Mr Denial Obvious.Nope, just you.
Ok your analogy means nothing. 70% of the economy is consumer spending.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.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.
'Consumer spending drives the economy?' If you learned that in an Econ class I srsly recommend you get your money back. Answer me this, if I take blood from your left arm and put into your right arm, are you any better off before I did anything at all?
Actually all they have to do is understand what a PRICE is >> A price is a market price, It comes from the MARKET, not you. It's the highest price you can charge without causing your sales to drop to where your income is less than before that price hike. If you go higher, guess what happens ? I just told you.If a person is willing to put a tiny bit of effort in doing some easy research you will find that raising the minimum wage does not cause spikes in unemployment or inflation. That is a fact.
Below are three links.
Link 1 shows each date the minimum wage was raised.
Minimum Wage - Wage and Hour Division WHD - U.S. Department of Labor
Link 2 shows historic inflation (CPI)
Historical Consumer Price Index CPI
Link 3 shows historic unemployment
US Unemployment Rate by Month
All a person has to do is match up the dates and it's very easy.
The only time that the minimum wage was increased and unemployment went up was during the Great Recession. Not one economist ever claimed that the minimum wage was the culprit for the rise in unemployment.
Finally, according to Cato, raising the minimum wage benefit s the Middle Class.
Minimum Wage Hike Would Benefit 3X More Middle-Class Workers Than Poor
Minimum Wage Hike Would Benefit 3X More Middle-Class Workers Than Poor
I suppose it never occured to you that by increasing price that diminishes the will of buyers to buy your product (and thus your sales are reduced) , is that right ?My gosh, buy a clue will you, please??? As a provider of milk, I'm not going to let you increase my costs w/o also increasing my prices, therefore, your increase in income is negated by my rise in prices. The only group hurt in this equation are those who a) aren't rich and b) aren't making minimum wage, ergo, the middle class - those already making more than minimum wage who have now seen their buying power decreased.
Here's another question for you. What do you think makes a PRICE what it is ? You thinks it's somebody's lucky number ? Their birthday number ? They just spun a wheel to get it ?
Tom Woodmansee, president of the North Dakota Grocers Association, said the cost of groceries has gone up due to inflation, but no agencies monitor prices at the state or county level. The Consumer Price Index released by the U.S. Bureau of Labor Statistics tracks prices across the Midwest.
According to the CPI, prices for food at home in the Midwest have risen about 3.3 percent since May 2011. Since May 2008, prices have risen 10.2 percent. The Midwest region includes Illinois, Indiana, Iowa, Kansas, Michigan, Minnesota, Missouri, Nebraska, North Dakota, Ohio, South Dakota and Wisconsin.
Other variables affecting prices include manufacturing costs, crop harvests, market competition and commodity costs, Siemienas said.
Sure! when I was a kid I worked in a department store in New York. They used to pay us in CASH every Friday at noon. Guess what happened after that. We got ourselves a wagon and went shopping. And if our wages were higher, we just would have bought more things$$$.I'm still waiting for the sky to fall from a min wage hike. It's been done many times and the sky has never fallen. Sales will increase. Most the places that are paying min wage have a strong customer base also making min wage. Heck many employees are also customers.
Ok your analogy means nothing. 70% of the economy is consumer spending.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.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.
'Consumer spending drives the economy?' If you learned that in an Econ class I srsly recommend you get your money back. Answer me this, if I take blood from your left arm and put into your right arm, are you any better off before I did anything at all?
The truth is that consumer spending does not account for 70 percent of economic activity and is not the mainstay of the U. S. economy. Investment is! Business spending on capital goods, new technology, entrepreneurship, and productivity are more significant than consumer spending in sustaining the economy and a higher standard of living. In the business cycle, production and investment lead the economy into and out a recession; retail demand is the most stable component of economic activity.
Granted, personal consumption expenditures represent 70 percent of gross domestic product, but journalists should know from Econ 101 that GDP only measures the value of final output. It deliberately leaves out a big chunk of the economy — intermediate production or goods-in-process at the commodity, manufacturing, and wholesale stages — to avoid double counting. I calculated total spending (sales or receipts) in the economy at all stages to be more than double GDP (using gross business receipts compiled annually by the IRS). By this measure — which I have dubbed gross domestic expenditures, or GDE — consumption represents only about 30 percent of the economy, while business investment (including intermediate output) represents over 50 percent.
Thus the truth is just the opposite: Consumer spending is the effect, not the cause, of a productive healthy economy.
I suppose it never occured to you that by increasing price that diminishes the will of buyers to buy your product (and thus your sales are reduced) , is that right ?My gosh, buy a clue will you, please??? As a provider of milk, I'm not going to let you increase my costs w/o also increasing my prices, therefore, your increase in income is negated by my rise in prices. The only group hurt in this equation are those who a) aren't rich and b) aren't making minimum wage, ergo, the middle class - those already making more than minimum wage who have now seen their buying power decreased.
Here's another question for you. What do you think makes a PRICE what it is ? You thinks it's somebody's lucky number ? Their birthday number ? They just spun a wheel to get it ?
Why should it? If you are now making more than you did yesterday, then why should an increase in the price of my product matter?
Here's a question for you? What variables should I as a producer of a good look at when determining a price for my product? Should I ignore my manufacturing costs?
Read this, and then apologize for wasting everyone's time;
http://bismarcktribune.com/business/local/what-determines-food-prices/article_1348dbe8-cd2f-11e1-b02b-0019bb2963f4.html
Tom Woodmansee, president of the North Dakota Grocers Association, said the cost of groceries has gone up due to inflation, but no agencies monitor prices at the state or county level. The Consumer Price Index released by the U.S. Bureau of Labor Statistics tracks prices across the Midwest.
According to the CPI, prices for food at home in the Midwest have risen about 3.3 percent since May 2011. Since May 2008, prices have risen 10.2 percent. The Midwest region includes Illinois, Indiana, Iowa, Kansas, Michigan, Minnesota, Missouri, Nebraska, North Dakota, Ohio, South Dakota and Wisconsin.
Other variables affecting prices include manufacturing costs, crop harvests, market competition and commodity costs, Siemienas said.
HA HA. Dude, if you don't even know that as price goes up, demand goes down, then you really shouldn't be in this thread. Would one of you anti-MW freaks please inform this poor soul that as price goes up, demand goes down ? This has gone beyond ridiculous now. Sheeeesh!Why should it?
Lol you give a rightwing bullshit blog as proof of anything? His logic is so stupid. Businesses cannot invest unless they continue to have consumer demand. Supply depends on demand and vice versa.To say it is merely an "effect" is so stupid it's not even funny. He even acknowledges the fact that it is 70% of our GDP lol. Seriously that article is a complete joke.Ok your analogy means nothing. 70% of the economy is consumer spending.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.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.
'Consumer spending drives the economy?' If you learned that in an Econ class I srsly recommend you get your money back. Answer me this, if I take blood from your left arm and put into your right arm, are you any better off before I did anything at all?
Myth
The Myth of Consumer Spending - Civitas Review
The truth is that consumer spending does not account for 70 percent of economic activity and is not the mainstay of the U. S. economy. Investment is! Business spending on capital goods, new technology, entrepreneurship, and productivity are more significant than consumer spending in sustaining the economy and a higher standard of living. In the business cycle, production and investment lead the economy into and out a recession; retail demand is the most stable component of economic activity.
Granted, personal consumption expenditures represent 70 percent of gross domestic product, but journalists should know from Econ 101 that GDP only measures the value of final output. It deliberately leaves out a big chunk of the economy — intermediate production or goods-in-process at the commodity, manufacturing, and wholesale stages — to avoid double counting. I calculated total spending (sales or receipts) in the economy at all stages to be more than double GDP (using gross business receipts compiled annually by the IRS). By this measure — which I have dubbed gross domestic expenditures, or GDE — consumption represents only about 30 percent of the economy, while business investment (including intermediate output) represents over 50 percent.
Thus the truth is just the opposite: Consumer spending is the effect, not the cause, of a productive healthy economy.
HA HA. Dude, if you don't even know that as price goes up, demand goes down, then you really shouldn't be in this thread. Would one of you anti-MW freaks please inform this poor soul that as price goes up, demand goes down ? This has gone beyond ridiculous now.Sheeeesh!I suppose it never occured to you that by increasing price that diminishes the will of buyers to buy your product (and thus your sales are reduced) , is that right ?My gosh, buy a clue will you, please??? As a provider of milk, I'm not going to let you increase my costs w/o also increasing my prices, therefore, your increase in income is negated by my rise in prices. The only group hurt in this equation are those who a) aren't rich and b) aren't making minimum wage, ergo, the middle class - those already making more than minimum wage who have now seen their buying power decreased.
Here's another question for you. What do you think makes a PRICE what it is ? You thinks it's somebody's lucky number ? Their birthday number ? They just spun a wheel to get it ?
Why should it? If you are now making more than you did yesterday, then why should an increase in the price of my product matter?
Here's a question for you? What variables should I as a producer of a good look at when determining a price for my product? Should I ignore my manufacturing costs?
Read this, and then apologize for wasting everyone's time;
http://bismarcktribune.com/business/local/what-determines-food-prices/article_1348dbe8-cd2f-11e1-b02b-0019bb2963f4.html
Tom Woodmansee, president of the North Dakota Grocers Association, said the cost of groceries has gone up due to inflation, but no agencies monitor prices at the state or county level. The Consumer Price Index released by the U.S. Bureau of Labor Statistics tracks prices across the Midwest.
According to the CPI, prices for food at home in the Midwest have risen about 3.3 percent since May 2011. Since May 2008, prices have risen 10.2 percent. The Midwest region includes Illinois, Indiana, Iowa, Kansas, Michigan, Minnesota, Missouri, Nebraska, North Dakota, Ohio, South Dakota and Wisconsin.
Other variables affecting prices include manufacturing costs, crop harvests, market competition and commodity costs, Siemienas said.
Oh my gosh! Here's what you seem to be incapable of understanding. That one of the most difficult things in life to do is to change the public's perception of what something is supposed to cost. They have a fixed idea about prices, and it is rock solid. If there is one thing I learned in 12 years as a business owner, it is THAT.Ugh. My gosh. What you are not capable of understanding, apparently, IF YOU ARE MAKING MORE MONEY, THAT OFFSETS MY RAISING PRICES!?!
Here, let's try something simple; 2 + 2 =?? Now, 4 +4 =?? Ask the nearest eight year old for help if necessary...
Oh God. Who left the cage door open ? Look who's back. It's Torpedo Todd. Oh yeah, All those people who have the audacity to go around stating fundamental laws of business economics, all must be a bunch of idiots. Especially when it doesn't agree with some greed freak's ambitions to run over everyone in his path, on his way to billionaire status.Your item #1 is wrong.
Your item #2 is wrong.
You're an idiot.
Hey, torpedo, didn't you catch the part where I said you might qualify for an exemption ?
Sure, sure, Mr Denial Obvious.Nope, just you.
PS - I notice you like to ask questions. You're not much for answering them though are you ? Exemption ?
Let's just pay our employees $1 an hour ...... why not?
